We represent your interests
After decades of investing in your practice, we know that you are looking for a trustworthy partnership in selling your practice. A question that brokers are often asked is if we are incentivized on both the buying and selling side.
In short, we only represent you as the seller and are only motivated to help the buyer so that the process is smooth for you. Many times, having a broker drive the timeline looks like us doing work for both sides. However, our motivation is to close the deal with your goals in mind.
Here, we offer background on how the industry developed this reputation of having dual agents, and then explain how we operate in plain contrast to the past.
The History:
When the medical practice transition industry first started, some people offered dual representation. Proponents of dual agents preferred the confidentiality it afforded, but the position quickly became controversial in other ways.
As the industry evolved, it became clear that seeking to represent both the buyer and seller created risks of the broker being unable to serve the best interests of either side. At Practice Transitions Group, we are firmly committed to ethical business practices and as such, avoid dual agency situations. We believe that these arrangements create conditions of conflict of interest that do not promote true market exploration for our clients.
How we operate:
We abide by not only the law but also by upstanding business practices. To that end, we do not practice the model of dual agency because it is risky and offers too much room for unethical behavior.
In contrast, our ethos is to partner with the seller and get the best deal possible for the practitioner’s side. These promises we make to every client:
- We do not accept fees from buyers.
- If buyers insist, we will credit the fees to you.
- We believe that being paid by the sellers is the only way to ensure that we always do our best for you.
Summary
We exist to offer you our industry expertise in selling your practice so that you can finalize the deal. At Practice Transitions Group, we ensure due diligence is completed. Our experience tells us that principled operations deliver the best results.
