If you are in the market to buy or sell a company and have made the decision to work with a professional business broker Industry, please use caution that you deal with.
Unfortunately, not all “experts” in the industry adhere to a strict code of ethics or have the highest professional integrity, as they should. This article will explore some of the more common things to consider and look out for when working with a company or a securities professional.
What is their reputation as the industry?
Is the company you are considering working with have a good reputation in the industry? They are considered honest and ethical with their peers? Be wary of dealing with a company who espouse themselves to be moral experts in business Brokerage Industry when, in fact, a quick survey of industry peers would suggest otherwise.
As with most things, it is easy to present himself as a leader, a moral institution. As a potential customer, please make sure this is really true and if it is also recognized by the wider profession.
Have they crossed any ethical boundaries?
Before you commit to a deal with a company, ask around. They have crossed any ethical lines that they should not have? Have they truly put their customers first? Do they adhere strictly to the Real Estate & Business Brokers Act ethics?
Before you sign on the dotted line to work with the company, brokerage firm or professional, make sure that they put ethics first and foremost.
Growing industry can attract unsavory “experts”
industry is growing in Canada and it can attract unsavory business brokerage “experts” to the industry. In the area of commercial mediation is considered “growth” area. The number of ‘baby boomers’ retiring the next 10 years will cause a rise in demand for business brokerage services. Boomers who own businesses in southern Ontario may want to retire and sell the business and boomers who are in the corporate world decided it’s time for a new challenge and want to buy a small business. The point is that there may be players attracted to this industry only see dollar signs associated with such growth and are willing to put ethical behavior towards customers and industry colleagues aside for.
As a consumer, please be vigilant to protect your interests and please, only work with business brokerage professional who has a good reputation and if it “right.” Usually, if the business does not feel right or if something “professional” or business seems ill hunch is probably right that you find another business server to work with.
buying or selling a business can be a convoluted process. The decision to work with business brokerage professional is a wise one. The vast, vast majority of experts in this field are ethical and do not cross ethical boundaries. The point to remember is to be careful because, as in all industries, it may be a few ‘bad apples “who spoil it for everyone.