Reasor Professional Dental Services Blog

Buyers Beware

Posted on October 27, 2012

BUYERS BEWARE:

In a normal real estate transaction a buyer is represented by a buyer's broker whose commission is paid by the seller. The seller is represented by a seller's, and/or, listing agent (broker) whose commission is paid by the seller. Both brokers split the commission. In a typical dental practice transition the seller is represented by the dental practice broker whose commission is paid by the seller. The typical dental buyer is not represented by anyone and therefor is left holding the bag, so to speak. They have to find someone to help in their due diligence for the practice they are about to buy. If they do find a dental broker to represent them they have to pay out of their own pocket for their services, either on a hourly basis or a predetermined fee set up ahead of time as the selling broker does not split their commission. This is unique to the dental practice brokering field and is definitely to the disadvantage of the buying dentist. The bottom line is the buyer is at the mercy of the selling broker whose only interest is his client, the seller. This is not fair but is the norm for dental practice brokering business. In addition to this inequality there is no state regulatory agency to oversee this dental brokering business at all. There is a state agency that oversees real estate brokering and has the authority to revoke any broker's license if they do not follow very strict guidelines.

So buyers beware when you are buying a dental practice, and seek guidance from qualified people who will have your best interests in mind. As always I welcome any comments or questions on any topic in my blog.


Our New Blog

Posted on September 14, 2012

Welcome to our first posting on our new blog. We are excited to share with all our past clients, current clients and hopefully new clients another format to communicate ideas, thoughts, and topics that pertain to practice transitions involving selling dentists and buyers seeking to purchase a practice. The possible topics are endless as so much goes into the transitioning of a dental practice for both the buyer and seller. Our intent is to stimulate open conversation and dialogue amongst numerous players in this sometimes complicated and misunderstood transitions process so a clearer understanding of selling a dental practice becomes evident. Whether you use Reasor Professional Dental Services or not we hope this format educates, informs, and stimulates thought so when either a buyer or a seller is ready to enter into a practice transition they will have a smoother and more successful transition that also benefits the staff and the patients who ultimately are affected the most in this transition. Our next posting will address the issue of timing of the sale of your dental practice.








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PO Box 14276, Portland, OR 97293



 

 

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