What is a Buyer's Advocate?
Making the decision to buy your first practice is a major milestone in a person’s business life, and one that no doubt fills the individual with equal parts excitement and pride. However, without professional assistance, those positive feelings can often quickly turn to anxiety and fear. After all, do you have an endless amount of time to scour through listings or see a practice through the proper eyes? Do you have the proper “due diligence” knowledge to view all the numbers correctly? The entire process can be an exhausting and emotional ride. Don’t let the experience of buying your first practice leave you with regret: instead, why not rely on the skills and capabilities of an expert who will have your best interests at heart?
Enter KLAS Solutions buyer’s advocate services. Many people ask, “What is a buyer’s advocate?” Simply put, a buyer’s advocate or consultant is a practice transition professional hired by a prospective buyer to research, evaluate and negotiate the purchase of a healthcare practice and the purchase of real estate or lease options. Unlike practice brokers who have the interests of the seller at heart, a buyer’s agent looks after you – the buyer. In an industry where the majority of services are designed to help the seller, KLAS Solutions wants you to know that there is someone in your corner and who will work for you.
WHAT DOES A BUYER’S ADVOCATE DO?
KLAS Solutions buyer’s advocate offers these services:
- We will search out practices that meet your criteria and assist in the purchase of that chosen practice and property for sale.
- We will assist in making sure the seller is being transparent with their information and assist you in understanding the “due diligence” of the practice.
KLAS Solutions will also assist in a BOV for the property or lease review. This brings us to our next question: “How much does a buyer’s advocate cost?” As there is much less involved in just bidding for the practice you want, as expected this type of service will carry a lower fee. On the other hand, for a full service that involves the research, evaluation, and negotiation of a property, you may expect to pay a flat fee.