Brokers Make You BROKE-ER
Let’s Face It: Commissions and Real Estate Salespeople Are Bad For Your Wealth! We’ve Reinvented Practice Sales By Removing Real Estate Salespeople From the Equation. That translates into: You Not Paying 10% Commissions, You Getting the Legal Protection You Need From the Start, and You Getting The Highest Sale Price (because we’ll hopefully have cleaned up any legal issues before / during the sale process). These are things that Real Estate Salespeople CANNOT DO… because they’re not Lawyers. They didn’t study to become lawyers. They SHOULDN’T draft important legal documents. And they’re conflicted because their commissions are tied to the purchase price.
DMC LLP (left to right): Ljubica Durlovska, David Mayzel, Michael Carabash, and Jonathan Borrelli
What’s Our Story?
When we started representing dentist purchasers and sellers (back in 2010), we noticed that Real Estate Salespeople were quite prevalent. But we were confused. Why were they charging 10% commissions and taking a huge chunk of the dentist’s retirement when they simply prepared an appraisal (which sometimes looked like a boilerplate template) and did an open house to try to find a buyer. Does that warrant 10%? We didn’t know why dentist purchasers were using Brokers to make themselves Broker-ER!
We also noticed that Brokers were not doing the best job possible for dentist sellers. No staff on contract. Not properly incorporated. Bad leases. These were the issues we saw coming up time and time again. And then came the Letters of Intent. We saw poorly drafted and incomplete Letters of Intent being prepared by Brokers. And we (as the lawyers on the transaction) had to work tirelessly to get everything cleaned up so the deal could ACTUALLY CLOSE!
And then we concluded: there was no one else out there who could provide an alternative solution to the Brokers. No one to stand up for the dentist who wanted to sell and keep most of their retirement paycheque. No one who could grab the bull by the horns and point dentists wishing to sell in the right direction. So we decided in 2015 that we could help our dentist clients PREPARE, MARKET, and SELL their practices – WITHOUT CHARGING COMMISSIONS!
We don’t do appraisals. We recommend Matt Bladowski of Dental Strategy for all your appraisal needs. We believe you should have an independent appraisal.
What About Our Results?
Since launching this website, www.DentalPlace.ca, we have listed dozens of our clients practices and SOLD THEM. We pride ourselves on making good matches between buyers and sellers. We try our best to achieve our dentist seller’s goals. We market the heck out of practices both online (this website, eBlasts, etc.) and offline (open house, contacting dentists we know, contacting other dentist professionals and vendors, etc.). And we have been successful at BREAKING THE BROKERS – ONE COMMISSION AT A TIME!
We’re also transparent in our results. On this website, you can see the HIGHEST PRICE PAID FOR one of our client’s practices vis-a-vis Revenues and Appraisal. You can also see the COMMISSIONS SAVED (which is based on 10% of the sale price and conditionally sold price NOT BEING PAID TO BROKERS). And you can see how many dentist purchasers have registered – which is growing every day!