You are here: Home > Dental > Do I Really Need to Use a Broker When Selling My Dental Practice?

Do I Really Need to Use a Broker When Selling My Dental Practice?

As a dentist, you’re probably very accustomed to making crucial business decisions on your own. You’re also used to regularly providing your patients with advice designed to help them maintain good oral hygiene. But do you really have what it takes to sell a dental practice when the time comes to move on either due to retirement, relocation or a future partnership with another practice?

While you may be inclined to get that appraisal you need so you can list your practice for sale yourself, you should know that it’s been proven that those who do sell their own practices rarely achieve the same results as brokers who specialize in selling dental practices. Not only does the average dental practice broker get a higher sale price before commission but he or she also usually negotiates more favorable terms for the seller such as the preferred closing date or fewer “inclusions” such as furniture and equipment.

Here are a few benefits associated with allowing a broker to put your practice up for sale.

A Broker will Almost Certainly Get you a Higher Selling Price
Because it’s in his or her best interest to do so in regards to the commission earned, a dentist practice broker will almost always yield a higher selling price. If you were to handle the entire process yourself, you could end up becoming very frustrated if your practice sits on the market for months and months without any interested buyers contacting you. This would surely prompt you to lower your price and maybe more than once just so you can make the sale and close the deal. On the other hand, a broker will be working hard to market your practice so it gets seen by people who are actively looking for dental practices to buy.

A Broker will Have the Time Needed for Advertising and Marketing
Would you consider selling your own home knowing that you’d have to do all the advertising and marketing on your own? If the answer to that is a resounding “No” then you should not even think about selling your dental practice. It takes a whole lot of time to properly market and advertise a dental practice for sale. And, if you’re still practicing dentistry, you can expect not to get a whole lot of sleep over the next few months as you’ll be busy taking photos, placing ads online, in dental publications & real estate magazines and being a marketer for your practice. Whew! Leave all the hard work up to a competent dental practice broker who is actually in business selling practices like yours.

Dental Practice Brokers are Specialists
Just as you’re a healthcare professional who specializes in dentistry, dental practice brokers are professionals who specialize in valuating, buying and selling dental practices. The aim of a broker is to make the entire process of selling your practice as painless as possible by marketing your property appropriately to your targeted audience. A broker will save you time by ensuring that you only speak to potential buyers who are seriously interested in your practice. You can rest assured that throughout the entire process, the highest level of professionalism will be used and that all your business details will be treated in a confidential manner.

Tags:

Comments are closed.