Requirement to engage buyer agent to look at a listing?

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April 28, 2021

by a searcher in Galena, IL 61036, USA

Has anyone dealt with a business broker that required you to engage their services as a buyer's advocate simply to look at listing information? Gottesman Company had a business listed and my assumption is that this would make them the selling agent, but before they would send me any financial information on the business, I had to become a registered buyer of theirs, and as an example, were we to purchase the business for $10million, we would owe Gottesman Company $320,000 in fees.

I've heard of similar things but have never come across it. Seems really weird and completely counterproductive to selling their listing.

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Reply by a searcher
from University of Pennsylvania in Miami, FL, USA
that is their business model. I recommend moving on. alternatively, i have found that you can sometimes find those deals by doing a google seach.
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Reply by a searcher
in Galena, IL 61036, USA
Absolutely agree. I just find it odd that a seller would list with a broker that has such requirements in order for a potential buyer to simply look at their listing. I can't help but feel it would turn some prospective buyers away.
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