The other day I was stood up by a potential buyer. Never mind the fact I had to drive 2.5 hours to the business for the meeting, but the brazen nonchalance of him when I checked to see when he was arriving was infuriating. “Oh, sorry. My wife would kill me if I bought a business, LOL” is not a reasonable excuse.
Keeping appointments for showings with business brokers is crucial for potential buyers for several reasons. First and foremost, these showings provide an invaluable opportunity to evaluate the business firsthand. Unlike merely reading descriptions or viewing photos, attending a showing allows buyers to engage with the property or business environment, assess its condition, and determine if it meets their needs and expectations. This personal inspection is essential for making informed decisions and can significantly influence a buyer's willingness to proceed with a purchase.
Secondly, honoring appointments fosters a professional relationship between the buyer and the business broker. This relationship is vital, as brokers often possess deep insights into the market and can offer advice tailored to a buyer's specific situation. When buyers keep their appointments, it demonstrates respect for the broker's time and efforts, which can lead to more productive discussions and a willingness from the broker to go the extra mile to assist the buyer in their search. This rapport can ultimately enhance the buyer's experience and access to exclusive opportunities.
Additionally, missed appointments can have a ripple effect in the competitive landscape of business transactions. When potential buyers fail to show up for scheduled viewings, they not only miss out on valuable information but also risk losing the chance to secure desirable businesses. In many markets, time is of the essence, and things can move quickly. Buyers who consistently keep their appointments demonstrate their seriousness and commitment, making them more attractive to sellers and brokers alike.
Moreover, keeping appointments allows buyers to gather essential feedback and ask pertinent questions directly on-site. This interaction can clarify misunderstandings, highlight unique selling points, and uncover potential concerns that might not be immediately apparent. Buyers can gain insights into operational aspects, local market conditions, and the overall value of the business, which can influence their negotiating strategies and final decisions.
Finally, the act of maintaining scheduled showings reflects a buyer's dedication to due diligence. This commitment is vital in any purchase decision, particularly in business transactions where the stakes are high. By attending showings, buyers actively participate in the evaluation process, ensuring they are well-informed and prepared to make strategic choices. Ultimately, keeping appointments not only benefits buyers but also contributes to a smoother, more efficient transaction process, paving the way for successful business ownership.
This wasn’t the first time being stood up, and surely not the last. Just a heads-up: brokers have long memories (as do sellers) and second chances are rare.
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