are professionally represented by National Business Brokerage can
enjoy the advantage of an experienced advisor and deal facilitator.
Professional representation also creates an Agency relationship
between NBB and their clients. An Agency relationship means that
NBB has a fiduciary duty to serve in their clients best interests
before all others, including its own.
The common law
of agency applies no differently to intermediaries than it does
to attorneys and C.P.A.s, and sets forth six Fiduciary Duties:
An agent must reveal all material
information learned about the transaction.
Matters of price and terms may not be
freely discussed and must be kept confidential.
An agent must follow the clients legal instructions, even
if disagreeing with them.
An agent must use his/her professional expertise to protect the
client against foreseeable risk.
An agent is responsible for all funds in
their trust until the transaction is closed.
An agent must serve the clients best
interests above all others, including their own.
1. Sellers Agent: represents seller exclusively.
2. Buyers Agent: represents buyer exclusively.
3. Dual Agent: Upon agreement by buyer and seller, an agent may
represent both in a transaction. As such, they cannot do anything
to benefit one that would harm the other. However, duties of confidentiality,
full disclosure, reasonable care, accountability and obedience still
It is NBBs
standard policy to disclose their agency relationships during initial
meetings with clients. NBB may perform their fiduciary duties in
any of the three (3) agency relationships, however, it is NBBs
ordinary practice to act as a dual agent.
buyer agency relationship can be accommodated between NBB and a
buyer in transactions for purchasing businesses not currently represented
by NBB. A retainer fee is required to establish this relationship.
Your NBB associate can further explain the details and advantages
of professional representation, agency relationships, and NBB retained
acquisition search services.
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