Vested Business Brokers - Subscription to See Deals

I am curious on people's experience with Vested Business Brokers (https://www.vestedbb.com/). It seems that they have a lot of interesting listings but have a VERY unique process of not putting CIMs together and requiring you to pay $10/month or $100/year to be a Premium Buyer (https://www.vestedbb.com/premium-member-page.html) which is what allows you to basically get financials on the business and speak to the selling broker & buyer. It feels kind of weird and very much not par for the course, so curious on peoples experience. ---//--- Details a Broker sent me on their process: Almost every business we represent for sale is classified as an owner operated, small, privately held business. Our procedures, and those of the sellers we represent, may not be a good fit for you. Most of these businesses are owner operated and do not lend themselves to absentee or portfolio ownership. For many years, I have dealt with dozens of equity group / portfolio buyers and there is usually a high level of frustration with acquisitions of small privately held businesses. There are no CIMS for any of our clients. Many of your requests for additional information would be part of the due diligence process and, in the majority of cases, would only be provided after a non-binding, Letter of Intent is in effect. Sellers prove their recast free cash flow after an accepted offer based on the seller's representations in the profile. I know you are accustomed to a more formal M&A process where due diligence is done prior to determining value and making an offer. Many owners need to meet with the prospective purchasers before they release any financials with sensitive information. Officer compensation is always part of cash flow. Your ROI will be lower if you operate this business absentee with a paid management team but these businesses are not valued for absentee ownership. Many of the recast add back items that determine owner cash flow that are common for these types of businesses like officer salary, perks, personal vehicles and insurances, depreciation, etc. are problematic for equity buyers and investment bankers. At this level of business brokerage and low end M&A, these items are part of recast EBITDA and valuation is based on a multiple of this recast number. Whether asset, stock or balance sheet sale, most of these sellers expect to keep their cash and receivables and will clear all payables at closing. Inventory may or may not be included and the seller may not want to release tax returns until he has spoken with the buyer, met the buyer or in due diligence because they may not fully reflect the business. We require buyers to upgrade to Premium Buyer so we can verify who the actual buyer is. We only deal with principals or need to know who the principal is.