Would you find broker reviews helpful?

November 04, 2022

by a professional from University of Texas at Austin in Houston, TX, USA

Hey all — From time to time, I've seen posts on here asking about reviews for a particular brokerage and looking for feedback from both a buyer's and seller's perspective on working with them.

In the past, we started putting together reviews of particular brokerages by actually chatting with the folks there and trying to understand their process, what they do differently etc. and here's an example of one we put together.

I wasn't sure how helpful this was so we didn't continue beyond a few reviews but I thought I'd get some feedback and see what you all think? In particular, does this provide meaningful insight or does it just become a way for brokers to pitch themselves and what they do well? Is this something you all would want to see with more brokers, heck even other service providers?

If it is helpful, we'd be happy to start it up again. Thank you in advance for the feedback!

Reply by a searcher
from The Johns Hopkins University in Sunnyvale, CA, USA

I believe you'll have the same problem as online reviews of anything else. Someone will have a bad experience and want to crow about it, those with good experiences may not leave reviews. If you know what you're looking for, what your deal criteria are, and recognize that the broker's job is to sell the business to anyone who they think can close, you can set yourself up for success...my $0.02

Reply by an intermediary
from Harvard University in San Diego, CA, USA

If you can get honest reviews that would be awesome. Shitty brokers need to be pushed out. I'm pushing BizBuySell to implement something as well. Even implementing something like average response time on a listing would be helpful, but if you can leave feedback on your experience with a broker I think that would help clean up the industry.

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