I have run into a situation where I and a broker at a small firm got off on the wrong foot. Despite letters of support from multiple banks they, for whatever reason, don't consider me a capable buyer. And they will not share my questions or interest with their seller; much less arrange a management meeting. The deal has promise and I at least want to get in front of the seller.
My question: are business brokers generally required by their contract with the seller to share all submitted IOI's / LOI's with their clients? Or do they have discretion to decide what to share with them?
The idea being to submit an Indicator of Interest based on the public info just so that I can get in front of the seller.
Are Business Brokers Required to Share All Submitted LOI's With Sellers?
by a searcher from Duke University
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You could go direct to the seller but will likely burn the bridge for future dealings with that broker.