Best Approach to Brokers

April 01, 2024

by a searcher from Rensselaer Polytechnic Institute in Jersey City, NJ, USA

What are some of the best sites to research and find brokers? Once you have found brokers what are some of the best practices for working with brokers and showing you are a serious acquirer? I am a solo self funded searcher, is it best practice to build a website and organizing a LLC?

Here are some of the steps I have taken to prepare prior to fully engaging in calls with brokers.

I have a prepared Letter of Support from a SBA lender.
I am prepared with funds and can show proof.
I have identified my search criteria to a geographic region and a few industries.

Reply by a searcher
from Harvard University in Philadelphia, PA, USA

Website helps I think just to provide brief background into who you are. Also, proactive communication on your target criteria and providing clear/timely feedback on opportunities are great ways to build a professional rapport with brokers. In addition, would consider looking into axial.com. Beyond getting access to deal flow, its a great way to be introduced to brokers through the platform.

Reply by a searcher
from Pennsylvania State University in Brooklyn, NY, USA

Just starting to have conversations with brokers is your best bet. The good ones will separate themselves. Letters of support and proof of funds are nice to have but they are similar to businesses that are "pre-qualified for an SBA loan" - ultimately meaningless and just helps folks feel comfortable

+4 more replies.

Join the discussion