Automotive Buy Sell Report: Dealership Brokers - Who Needs Them?

Articles / Publications

In his third article in a series for Automotive Buy Sell Report, published on May 9, 2018, Burr & Forman's George Taylor provides dealers with insight into when to consult with a broker to assist in buying or selling a dealership, and how to ensure they will be the best fit. Taylor recommends that dealers should carefully consider whether to use a broker in a dealership sale or purchase and, if they decide to use one, he recommends finding a broker with qualities that fit the person or firm. Taylor touches on what differentiates a good broker from a great one. "In the negotiating process, a good broker will ensure the acquisition document falls into place and will insert himself at critical moments where a particular clause or provision threatens to derail the process. The experienced broker works in concert with accountants and lawyers to provide guidance regarding what you should be seeking in the transaction and what is of lesser importance."

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