Why Can't I Have Addresses of Businesses For Sale to Drive By on My Time?

Yesterday I was asked by a buyer if they could have the addresses of businesses for sale to drive by them to see if they would be interested. My answer was, "no, not unless the following conditions are met:

1. I have a signed non-disclosure agreement for each individual listing.
2. I have proof of financial viability if any of the businesses require more than a $100,000 down payment.
3. I have either met with you in person, or you have provided a copy of your photo ID.
4. I have contacted the listing agent, provided the listing agent a copy of your non-disclosure agreement, and the listing agent has agreement from the seller to allow the drive-by.
5. We have discussed what is appropriate and what is not appropriate prior to your driving by a business and you have agreed to follow these rules with no exceptions.
6. You have given me full confidence to trust you will not enter the business and ask questions of customers, employees, or the owner without me or the listing agent present."

Just as business brokers develop an in-depth relationship with sellers prior to listing their business for sale, buyers need to develop a similar in-depth relationship with their business broker prior to reviewing confidential materials and visiting business either by appointment (always preferred) or a drive-by (always discouraged).

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.