There are other ways, of course. How many real estate deals have you heard of that come so close to closing, only to fall apart at the last minute, leaving both the buyer and the seller feeling disappointed and upset?
Most of us have heard plenty of stories like these; some of us have even lived through them. It’s common for a reason: Pitting buyers and sellers against each other in a sale is a recipe for the kind of adversarial situation that can quickly crumble under pressure.
It shows in the numbers. Studies show that practices listed under these circumstances face a rocky road to closing. Practices listed by brokers who don’t have (or seek) specialized expertise in the dental industry will close about 50% of the time. Meanwhile, practices for sale by owner will close only 20% of the time.
The good news is that for you, it doesn’t have to be that way. At PARAGON, we successfully close 95% of the deals we take part in — and everyone leaves with a smile. That’s because PARAGON handles sensitive matters in a sensitive way. We look out for both the buyer and the seller in a win-win process called Dual Representation.
Dual Representation means we represent both sides: The buyer, and the seller. In our way of thinking, involving both parties is the most sensible way to arrive at a transaction that feels good, fair and equitable for both parties involved. Though it may sound a little unconventional, it is the secret behind PARAGON’s decades of successful dental practice transitions.
This idea of “Equitable Transactions through Dual Representation” is the cornerstone of PARAGON’s business philosophy. PARAGON believes that you, like most healthcare professionals, want to conduct business in a non-adversarial, constructive environment. PARAGON believes both the buyer and the seller deserve a fair, equitable transaction guided by a well-informed, experienced and competent third party. We are here to make that possible.
Our transition consultants are trained to represent both sides with integrity and honesty. That’s what allows us to build the kind of relationships with our buyers and our sellers that let us understand their hopes, needs and concerns, and match them with the best opportunities. Instead of focusing on “the transaction,” we focus on the people — and the process of transition. These are the building blocks of a smooth and successful outcome, and they are only possible through Dual Representation.
Without the option of Dual Representation, both parties would have no choice but to simply accept the fragile, frustrating nature of typical negotiations.
PARAGON’s Dual Representation approach has earned our consultants a tremendous reputation not only for professionalism and fairness, but for positive financial results for our clients through well-matched, equitable transitions. We would love to do the same for you. If you are considering buying or selling a dental practice, give yourself the gift of a positive experience. Talk to a PARAGON consultant today.