Agents Beware!
I am not a negative person, and some will think this negative information. However with that being said, every agent that sells businesses and recommends that their customers have a CPA review the financials of a business should be aware that the CPA can and may take your client. I had this happen to me, I referred a cleint to a local CPA to review the books on a company they were looking to purchase. The CPA called them directly and told them a friend and client of his was selling his business... From their the nightmare began, after numerous meeting at the CPA's office, the CPA passed a message to my client that the Seller did not want them to use us as their representative. Yes I had a buyers agency agreemnt. Fortunately our buyer was loyal to us, but I had to be the "secret agent" and stay in the backgroung. Was this ethical of the CPA, not in my opinion, even after he was told repeatedly to only contact me regarding the business he refused. He is the former Partener of a large Franchise Real Estate Company here in Port Charlotte and Punta Gorda and obviously knew better. I called the legal hotline and was informed that a CPA can in their capacity sell a business without a real estate license and was told to contact their licensing authority to see what ethics they are bound by.
Comments(2)