I’ve been building a deal-screening tool, so I’ve been testing it on public listings. One auto repair shop on Maui advertised no competition for 24 miles. The listing has no address, so I estimated the location from the area it named and counted auto shops within 24 miles. I got 90. Even if some of those are the wrong type of business or listed twice, it isn’t close to zero. The seller may have meant something narrower, like no one doing the same specialty work. But the buyer only sees the line in the listing, and it can shape what they think the business is worth. For those of you who’ve gone through diligence on a local business: How do you check a competition claim before an LOI? Have you caught a claim like this that didn’t hold up? What was it? Did it change your price, or did you walk? Would love to hear what you actually do. Happy to run the count on a listing you’re looking at if you drop it below.