How hairy are intermediaries non-competes?

intermediary profile

July 13, 2022

by an intermediary from University of Georgia in New York, NY, USA

First - thanks Searchfunder community for so much love on my inaugural post! I'm back...

Super curious how the business brokerage ecosystem handles non-competes. Asked another way, could a broker from Transworld / Murphy Business Brokers, etc join another broker and take their listings with them? Seems highly unlikely, but I can't seem to find any details on their website saying otherwise. Any insight appreciated!

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commentor profile
Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
Interesting, possibly loaded question? At least the way we are structured, the short answer is no, unless agreed to by the brokerage firm. The listings are technically/contractually the firm's, not the broker's. And then there is the non-compete to comply with.
commentor profile
Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
Speaking only for Murphy, we have a great direct marketing team that can work hand-in-hand with the brokers for sell and buyside engagements. Like most deal generation though, it's a mix of direct marketing, net working, referrals, etc.
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