Why You Shouldn’t Try to Sell Your Dental Practice on Your Own | Best Dental Brokerage in Baltimore
Dental Practice Sales & Transitions
If you have ever considered selling your practice on your own, stop and think about how daunting and detailed the selling process can be. Hiring a local, highly qualified dental broker like Schiff Dental Brokerage, LLC, can save you time, money, and stress.
Here are some of the responsibilities a broker can take off of your shoulders:
Meeting Your Goals
The commercial real estate market is constantly changing. A qualified dental broker with strong local ties will work with you to determine a fair market value for your practice.
The process includes building a detailed cash flow analysis that encompasses many factors including collections, payroll, taxes, and goodwill. An experienced broker will create a detailed appraisal. This summarizes important information that potential buyers will need to evaluate the practice fairly.
When appraising your dental practice for sale, you might also consider hiring a firm with a certified public accountant on staff to analyze your assets. Schiff Dental Brokerage, LLC can assist you with all aspects of selling a practice, including CPA services for dentists.
Marketing Your Dental Practice for Sale
Your broker can help you find a suitable buyer for your dental practice through networking and sophisticated practice marketing techniques honed over many years. Finding a good fit for your practice ensures goodwill among your patients and team.
When it comes to marketing your practice, our dental practice broker in Towson, MD can handle many time-intensive tasks. He or she can showcase the practice to qualified buyers with confidentiality in mind. Instead of interrupting your evenings and weekends with in-person showings, your broker can assume this duty.
Ensuring a Fair Transaction
When you try to sell your practice yourself, you are likely to lose impartiality. Dentists you know personally may try to offer you less than you believe the practice is worth, making negotiations uncomfortable.
Instead, consider hiring an experienced dental broker who only handles a single party per transaction. A proper separation of parties ensures neutrality, fairness, and maintains goodwill.
In the long run, hiring a dental broker is more efficient and cost-effective than trying to sell the practice on your own. It allows you to focus on patient care instead of minute transaction details.
See how our services can help you get the maximum value from your dental practice sale. Contact our dental brokerage office in Towson, MD today to schedule a complimentary consultation.