Selling FAQ
For more information about our practice sales service, or to register your practice for sale, please click here to use our 30 second seller registration form.
Once completed, a Practice Sale Search representative will contact you to confidentially discuss your practice and explain the process.
Our clients have varying levels of concern regarding exposure and discretion.
We offer different levels of exposure for different levels of discretion.
- Not all practices are on our website. When they are not listed, we use our database to make individual approaches to buyers who we think will be interested.
- Some practices have vague descriptions of where they are (the area, rather than the exact suburb, or a nearby suburb,) in order to satisfy our clients’ confidentiality concerns.
Practice Sale Search endeavours to do everything possible to maintain a vendor’s anonymity and confidentiality. A practice’s information on our website is approved by the vendor before it goes live, to ensure accuracy and anonymity is maintained.
Practice Sale Search does not disclose any vendor's name, contact details or address of the practice on our website listings. We don't provide the details of the practice to just anyone who contacts us and asks for them.
We only pass on further details to potential buyers who have registered with us and agreed to our confidentiality terms of service.
Different practices take different lengths of time to sell.
If the sale process is smooth, all necessary information is available and everyone is responsive, we can sell a practice within four months from engagement to settlement (this includes all legals - see breakdown of this time here). However, variations occur due to:
- Availability: buyers, vendors, lawyers, financiers accountants who are necessary for the deal can go on holiday or otherwise become busy, unavailable or difficult to get responses from.
- The time of year: There is less availability in late December/early January, for all parties involved.
- Complexity of the deal.
- Reasonable-ness of all parties with price and negotiation points.
We will only talk to potential buyers who have registered with us via our registration page. This means that:
- We have their contact details, address and what they are looking for
- We have a history of what they are looking at
- We have a record of them agreeing to our confidentiality terms of service
Stories of unlicensed builders, electricians and mechanics are often covered in the media, which leads to a growing awareness of this issue. Less well-known is the mistake that many business owners make, when (unknowingly) letting an unlicensed professional sell their business… an asset that they have spent their entire professional career building.
Business Brokers, like many other professions, need a license in order to operate legally. They must sit exams, pass courses and keep up-to-date with their CPD requirements, in order to renew their licence every year.
We are registered as brokers and real estate agents in each state that we operate in, so that our clients can rest assured that we are held to national and state standards, and that local requirements as far as disclosures and necessary paperwork are adhered to.
Click here for more information on this.