Buyer Rapport with Sellers Broker

April 23, 2026

by a searcher from Missouri State University in Santa Rosa, CA, USA

I am trying to understand what a reasonable relationship looks like between a buyer and the sellers broker. I've been working towards an LOI on specific deal. This is as far as I've gotten on any deal. So far, I've only communicated with the sellers broker via email. Submitted NDA. Gotten initial CIM. Many questions outstanding. Haven't spoken with them real-time. Is this the normal professional procedure? Should the broker be initiating this when they think the time is right? If they're not, is this a sign they a) don't think I'm a legitimate buyer or b) they're skeptical that the seller's expectations represent a deal that can close? Should I be setting up a call to build a rapport with the seller's broker? If so, at what stage? Would be interested in seller's broker perspectives in particular. Thank you.

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Reply by a searcher
from University of Central Florida in Caldwell, ID, USA

Hey Dennis, I'm on the buy side rather than broker side, but five months in with three LOIs across different brokers, here's what the rapport pattern has looked like for me. Email-only at the CIM stage is normal at sub-$3M EV. Brokers at this size are juggling 8 to 15 active listings and they triage phone time hard. They'll move to a call when they decide you're real. The question is whether you wait for them to make that decision or you speed it up. Across my three deals: Deal 1: NDA, CIM, I emailed thoughtful questions, broker called within 48 hours. Walked from the deal but the broker was straight with me throughout. Good relationship today. Deal 2: NDA, CIM, lots of email, no call until I asked for one. Responsive but transactional. Deal died on a bait-and-switch counter. Deal 3: NDA, CIM, broker pushed for a site visit before any phone call. More pressure dynamic than the others. Currently in negotiation. The pattern I've seen: thoughtful, specific questions in writing earn you the call. Generic "send me the financials" emails do not. On your specific question of whether broker silence signals skepticism, usually no. Sub-$3M brokers are not strategic gatekeepers, they're working their list. If you've signed the NDA and they sent the CIM, you're already in their pipeline. The move: after you've read the CIM, send a follow-up with three or four specific questions about the deal. Owner role and time commitment. Customer concentration. Recurring versus project-based revenue mix. Transition expectations. Reason for sale. Close the email by asking for a 30-minute call to discuss. That puts the ball in their court professionally and signals you've done the work. If they still go quiet after that, you have a signal worth paying attention to. But I wouldn't assume bad intent yet. Hope that helps. Happy to compare notes anytime. Jason

Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA

I'm not likely to talk with a buyer until they've read the CIM, and if we get on the phone and it is clear they haven't read it, it's a short call. Also, if the business has a lot of interest, we will probably require indications of interest before we set up any time for the buyer to talk to the seller. Also keep in mind we probably get two to four requests a day for "Can we grab 15 to 30 minutes of your time?". We typically don't have time for that, unfortunately. But once you get to the buyer-seller meeting stage, I am going to be in contact with you as much as I am the seller. At that point, my job is to help you get what you need to get to the finish line, or decide this isn't the deal for you.

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