I've been reaching out to brokers with the intent of introducing myself and getting on their radar. My goal is to have them think of me when an appropriate deal hits their desk.
The overwhelming majority of them have offered to represent me by sending me deals and then reaching-out on my behalf if I see anything interesting. I've asked how they get compensated and they've told me they would share fees with the Seller's broker, similar to the norm in real estate transactions. There is no fixed fee or % of the purchase price.
I agreed to do this with a few brokers to see how it played out. After a few months all I've been sent are deals that are on bizbuysell. My concern is that I'm not really benefiting from this and might even be at a disadvantage (if I was a seller's broker with multiple potential buyers I might screen out the ones where I'd have to share my commission). I've also recently had a few ask me to sign documents saying I would only work with them on any deal they send me, which seems off given they are sending me publicly available deals.
This has all been surprising to me but it also seems like an industry norm since ~90% of the brokers I talk to are raising it. I just want to confirm this is normal? It would also be helpful to understand what others have done - i.e., agree to the arrangement or clarify upfront that you don't want to go that route.
FYI - I am focusing in GA and FL if that makes a difference.