Hey guys, this is my first post, long term lurker. I am located in the Reno/Tahoe area and am going to be acquiring a business, hopefully in the next 6 months.
I used my network and was referred to a great and smart local business broker who I have hit it off with. However, every time I try to explain the concept of me hiring him as a buy side representative (this seems very intuitive to me,) the gentleman adamantly says that it is not a thing. I've offered 1% or so and he seems to think that the only way he can get paid and have a duty to me would be if the seller's rep shares the commission, which they have always said no when asked. Thoughts?
Where to find Buy-Side Representative
by a searcher from University of Michigan - Ann Arbor
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Solutions for both exist, but the former is more common. It's typically more expensive than 1% though -- usually a Lehman or modified Lehman formula.
Calder Capital was mentioned, Captarget and Bison Business are other examples at the more mainstreet level.