Are You Selling Your Dental Practice?

Why You Need More Than A Dental Broker

If you are thinking about selling your dental practice your first phone call might be to a dental broker to start the initial discussions about the selling process. But before you pick up that phone let’s discuss the difference between a dental broker and a dental transition expert.

The goal of a dental transitions expert is to build a relationship with a dental owner. They are happy to help a dentist sell their practice right away, but they prefer working with a dentist three to five years before they want to sell. Getting the conversations about started earlier rather than later helps the dentist understand the true value of their dental practice and gives them time to make adjustments and changes to increase the value. It also helps make the transitions process smoother. The transition expert not only understands the dental practice, but they have developed a strong relationship with the owner and employees which is helpful when looking for a dental buyer to ensure a perfect fit.

When you’re a dental broker it is not required to be licensed. However, a dental transition expert understands the importance of being fully accredited and have their real estate licenses that allows them to assist in the selling the building when other brokers cannot. And to maintain their licenses they have to complete constant continued education making them more educated and aware of possible benefits and concerns for buyers and sellers.

Dental transition experts do their homework! They will do their own appraisal by walking through the dental practice with the owner. The appraisal will not be performed behind a desk… which is a common process with dental brokers. After the walkthrough, a dental transition expert will then review the appraisal line item by line item with the dentist to ensure both parties agree with the appraisal and that there are no questions.  

Dental transition experts also offer sole representation, meaning they will only represent the buyer or the seller, not both at the same time. This ensures that the transaction is fair and completely honest. Brokers are known to represent both the buyer and the seller at the same time.

Working with a dental broker or a dental transition expert will help to get your dental practice sold, but a dental transition expert better understands the buying process and is invested in making the process a more positive and profitable experience for the dental owner. At PMA, we have a team of dental transition experts with over 30 years of experience in the buying and selling process of dental practices with an extensive network of industry experts, accountants, bankers, consultants, and more. Contact us today to begin the discussions about selling your dental practice.