We have vendors who request the opportunity to try and sell to a buyer who will pay our fees on completion. Effectively a ‘fee free service’.
As we are a service lead business we have responded to that client feedback and introduced a category of buyers called ‘Top Tier Buyers’.
We are therefore inviting all our buyers to be considered as ‘Top Tier Buyers’.
Top Tier Buyers agree to pay our fees of on completion of a purchase in lieu of the vendor.
Most of the dental practices will go to the open market so that Top Tier and Regular Buyers create a competitive commercial environment which works to the advantage of our vendors.
We share all the bids we receive for a practice with a vendor because in our experience it is often not all about the money. Sellers like to have a personal and clinical connection with the person(s) they are selling to.
We share information with purchasers on how their offer is positioned with the competition, so they know what the likely cost to them will be if they wish to secure a business. Our job is to maximise the value for our vendor client’s business and we find that is best achieved by giving purchasers sight of where the bar is being set by other interested parties.
We advise the vendor on the overall proposition from purchasers depending on whether it is the buyer or the vendor who will be settling our fee of 2.5% of the purchase price.
- Top Tier purchasers get the opportunity to set themselves apart from other purchasers by offering to pay our fees.
- All purchasers get to understand where their offer is positioned with the chance to respond accordingly.
- A highly competitive commercial environment is created around each sale.
- Vendors get their pick of the bids with an option for a free service.
- Vendors are not obliged to accept any offer and no fee would be due in those circumstances.
- We receive our fee either way.