Unfortunately, there are some shady and unethical practices being used by business brokers nationwide. There are two kinds of business brokers - those like all BSN business brokers who believe in the ethical management of buyer and seller information - and those business brokers whose title should include "GREED".

Whether you are an owner looking for a business broker to sell your business or a business buyer reviewing businesses for sale - be careful

Here are some unethical and deceptive practices to stay away from...

• No representation of financial figures until after the offer is accepted
• No review of how the business was priced
• Representation of profit that can't be verified
• Representation of equipment/inventory that can't be verified
• Asking for a deposit before business is disclosed to you
• Asking for a deposit to review the financials
• Asking for any deposit other than that directly associated with an accepted offer
• Any broker or seller that pressures you with "I have other offers coming" etc.

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