If Not This, Then That” – A Strategy for Navigating Business Brokering Listings

In the world of business brokering, you need to think strategically about your listings, especially when it comes to how buyers perceive them.

In this section, we’ll explore a powerful concept that will help you manage buyer expectations and turn potential no’s into future opportunities: If not this, then that.

Understanding the Concept
The term If not this, then that comes from the reality of how business listings are presented. In business brokering, we often don’t share all the information up front, and that’s by design. We don’t list every detail of a business because, for confidentiality reasons, a lot of sensitive information is withheld until a buyer signs a Non-Disclosure Agreement (NDA). After signing the NDA, the buyer receives the Confidential Information Memorandum (CIM), a more detailed document with insights into the business.

However, this can lead to surprises for the buyer. Often, they might assume that the business listed is something different from what it actually is. For example, a listing for a dry cleaning service might attract buyers thinking it’s a laundromat. Once they review the CIM, they realize that it’s not what they thought, and they may say, “No thank you.”

Using This to Your Advantage
This is where the If not this, then that mentality comes in. As a broker, you need to understand that buyers might assume certain things about your listings. And when they realize it’s something different than what they expected, that’s where you have an opportunity to redirect their interest and make a new connection.

Think about this: When someone calls about a listing, they may think it’s something entirely different. Let’s say you have a business listed that provides camping services—glamping, in particular. A buyer might assume it’s a real estate deal because of the pricing structure, thinking it’s a property listing. However, once they sign the NDA, they realize that it’s actually a business model leasing land and offering structured campsites, not a real estate deal.

When this happens, it’s your job to pivot and turn the conversation into a positive one. For instance, if someone calls and says, “I thought this was a real estate deal,” you can respond with, “That’s understandable! I can help you find a real estate opportunity or a business that meets your needs. Let me know what you’re looking for specifically, and I’ll find the right fit.”
This shift in thinking is key. Buyers aren’t backing out; they’re simply realizing the business they thought they were getting isn’t quite what they expected. Instead of letting them walk away, use this as an opportunity to start asking the right questions, understanding what they truly need, and offering them alternatives that might be a better match.

Imagine you have a listing for a car detailing business, but potential buyers are calling, assuming it’s a car wash. In their mind, they’ve got a completely different vision of what the business entails. When they sign the NDA and look at the CIM, they quickly realize it’s not what they expected, and they might walk away.
Here’s where the If not this, then that strategy kicks in. You already know they’re interested in a business related to cars—whether it’s a car wash, detailing shop, or something else. So, you can pivot and say, “I see you’re interested in businesses related to cars. I actually have a few car wash listings available. Would you be interested in looking at those as well?” This is an effective way to keep the conversation going and move toward closing a deal on a different business.

Let’s say you have a glamping business on your books, and potential buyers are reaching out, assuming it’s a real estate listing due to the price and structure. Once they sign the NDA and see the CIM, they realize it’s a business opportunity involving the leasing of land and setting up temporary structures. At this point, many buyers might dismiss it, thinking it’s not what they were looking for.
However, with If not this, then that, you can reframe their perspective. You could say, “It sounds like you were hoping for a more traditional real estate opportunity. While this isn’t a real estate deal, it could be a great business investment for you, and I have other properties that might suit your needs. Would you be open to discussing other opportunities?”

By leading with alternatives, you keep them engaged and show your flexibility as a broker. They might just need a little more guidance to see the opportunity differently.

In business sales, 99% of transactions are handled by an intermediary broker. As the broker, you’re in a prime position because most buyers aren’t working with their own brokers, which gives you a unique advantage. You can leverage this by engaging with the buyer and finding out exactly what they’re looking for—whether it’s a car wash, a laundromat, a dry cleaning business, or something completely different.

Once you understand their goals, you can direct them to businesses that fit their needs. And often, this will lead to opportunities for you to secure additional listings or represent them in a new sale. Buyers trust brokers because they offer expertise and guidance, and by positioning yourself as a resource, you increase the likelihood of successfully closing deals.

When you think in terms of If not this, then that, you’re setting yourself up for success by being prepared for buyer misperceptions and transforming them into opportunities for new listings or deals. So, the next time you get a call about a listing that doesn’t fit a buyer’s expectations, remember: If not this, then that. And always be ready to pivot.