Don't Let the Buyer Run the Show!

I just closed a transaction a month ago in which we thought we had a great match. The buyer was quite confident, aggressive, and not demanding at all of the seller.

The parties agreed to four weeks of training. After two weeks, the buyer told the seller, "All is well. We can handle it from here." In effect, they were saying "Don't call us; we'll call you."

Meanwhile the seller is home receiving phone calls from the employees saying, "She thinks she knows everything. She isn't warm and open like you. I think I'm going to get my resume out there."

The moral of the story: Stick around and help make a smooth transition. Key employees need to feel valued, safe, and respected. Educate your buyer ahead of time about the personality of each key player so they can begin building rapport gradually. Most sellers will be carrying a note, so they definitely have a vested interest in the success of the new owner.