Perspectives on asking for private meetings with the seller (w/o broker)?

searcher profile

August 15, 2022

by a searcher in San Jose, CA, USA

Brokers have their place and purpose in the deal-making process. However, I also find that they can stifle some of the relationship-building and level settings aspects of conversations with sellers. What's your take on asking for 1-1 meetings with the seller after the initial conversation with everyone in the room? I had a conversation with a seller recently, and the two brokers were basically just observing the whole time. It felt unnecessary.

0
11
171
Replies
11
commentor profile
Reply by a professional
from University of Southern California in North Palm Beach, FL, USA
More essential than ever: Interview employees before buying a business. And so is doing it the right ways at the right times.

Watch my webinar recording: https://youtu.be/fOvfLJoW8Qk.

You get a list of 20 questions. You'll hear how business buyers are blindsided by the seller's employees. And how to avoid it.

Perspective: The pandemic is accelerating the decisions of employees and employers. Increasing dissatisfaction and changing expectations is something searchers need to delve deeply into before buying companies. Get this wrong, or too late, and you could (and probably will) regret your M&A transaction.

We can Zoom if you want to talk about it.
commentor profile
Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
A good broker will provide value in the meeting, even if just appearing to be "observing". They are likely taking notes and documenting things that the buyer and seller are discussing or agreeing to (some of which may, and many of which will not reach the level of being documented into the APA) so that later the broker can remind the seller (or buyer) about something that was agreed to (e.g., remember when you were talking about the vehicles and you agreed to get the hydraulics on the bucket truck serviced prior to closing?). The broker can also ask clarifying questions when it is clear that the seller thinks one thing is being agreed to and the buyer thinks something else is. That helps avoid disagreements and ill will later in the transaction.
commentor profile
+9 more replies.
Join the discussion