Dental transitions are definitely favored toward the seller, but there are plenty of buyer brokers. However, there’s also a lot that try to create perceived value since you’re paying them that ends up shaking the deal itself. The other problem in dental transitions is you have seller brokers making 8-10% commission of a practice, so there’s significantly more revenue in that side of the space which makes it the sandbox most brokers want to be in. Many will claim to help you too, but it’s more of as a customer than as a client if anything as they’re being paid by and directly representing the seller’s best interests.
Copper Dental Transitions primarily helps buyers nationwide and believe we bring value when we are involved in the transition from search to close, and even post sale if necessary. It’s about using our experience in acquisitions to make it a seamless transition for you on your new journey of practice ownership, not just crackin skulls on price and rates. One thing to be mindful of is a lot of people out there basically have one call with you, pass you off to a junior team, and give you some documents for a large fee. You should stay away from those types as you’re basically paying for their marketing and overhead. It would be more beneficial to find someone who will coach you through the process themselves as every deal is unique.
A lot of the time a buyer broker isn’t going to directly find you a practice that’s off market though, but will teach you how to do it. Then you also have leverage when speaking to an off market practice because you have a broker that they don’t have to pay who can help facilitate the deal as soon as possible if they’re ready. This saves them the time to list the practice, be on market fielding offers, and the commission to a seller broker.
Other than staying in contact with local seller brokers in your area, you should also monitor sites like the Dentaltown classifieds and Provide even keeps a pretty good list. They don’t have every broker on there though, so don’t think it is all of the listings available. Sometimes the off market practices will also post themselves on your state’s dental association classifieds as a way to avoid having a broker list it for them. Unfortunately there’s not like a Zillow for all dental practices. A lot of deals are done through seller brokers, but there’s plenty that can be done through your own dental network or even some old school mailers to the radius of practices in your desired area. If these tips don’t work, you could always venture out into the startup route!
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