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If I am unhappy with the service and advice given by a business broker, who can I lodge a complaint with?

I came to Florida last Summer and viewed a number of businesses through a certain broker on this site. I found one I liked and put in an offer which was accepted. I returned to the UK to begin delling my house etc in preparation for the move. I had a call from the broker to say the seller had pullef out to sell to somebody else but that he had an ideal business for me coming on his books soon.
I asked for details of numerous other salons whic h I had seen and liked and he dismissed all of them.
He eventually said the aforementioned business had come on the maket but at double my budget which he assuref me it was more than worth. I took his advice and put down s 10% deposit to secure it. On arrival in the US I went to view it and it was everything I did NOT want. Old, dirty in a downmarket area. I wanted to pull out but he said it would jeoperadise my visa. We were forced to go ahead with the purchase of this premises which in 7 months has lost us over$50, 000 as well as the $155, 000

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The BAF Group LLC
MD

In Florida, you have the Real Estate Commission that overseas regulation of Business Brokers. You also have some potential for seeking civil suit, by engaging an Attorney. All of this if your Broker was truly at fault, in some way. Frankly, I don't understand why he advised you about the Visa; did you have an Attorney involved in the Visa application process? And if so, why did he/she not advise you on that issue? And if not, why not? Moreover, why would you have gone that far with purchasing a business, without having seen it?

Were any of the comments you state came from him in writing? Did you keep emails or other correspondence that suggested that the Broker stated the business you bought was worth more? Do you have a written record of him saying that your Visa would be in jeopardy? You will need something tangible to take to the Commission, or to an Attorney.

Finally, did you pay the Broker, or did he receive compensation from the Seller? Did you sign anything that stated that he worked for you, in your best interests? Or was he acting on behalf of the Seller? This is important to know and to have on record.

Oct 11, 2013

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