Dental brokers still have a space in the dental industry and provide value to dentists, says Gary Boyajian, DDS, owner of Nationwide Dental Practice Brokers.
However, there are others in dentistry who feel that there are more potential options to sell a dental practice, including Bridgett Jorgensen, DMD, a dentist of North Gwinnett Dental Care in Sugar Hill, Ga.
But, as DSOs and private equity continue to scoop up dental practices, dentists may want to consider a broker for their experience and expertise when it comes to dental practice transactions and transitions.
Dr. Boyajian recently connected with Becker’s to share the impact that dental brokers can have on dental practice transitions:
Note: Dr. Boyajian’s comments were lightly edited for clarity and length.
Dr. Gary Boyajian: As someone who spent 25 years chairside and the past 15 years facilitating dental practice transitions nationwide, I’ve had a front-row seat to the evolving landscape of dental practice sales. The notion that brokers and their role can be replaced by just creating a few social media posts and an attorney is overly simplistic and potentially misleading to both sellers and buyers for a number of reasons.
1. It’s Not Just a Sale, It’s a Transition
Selling a dental practice is not like selling a used car. You’re not just listing square footage and equipment; you’re transferring goodwill, staff culture, patient relationships and operational systems. Brokers do more than match buyers and sellers, we ensure continuity, compatibility and stability post-sale. We pre-screen buyers, vet their financials, evaluate personality fit and assess their clinical and managerial readiness.
2. ‘Saving’ the Fee Can Cost You More
Yes, brokers typically charge 8% to 10% of the sale price. But the assumption that avoiding this fee means saving money overlooks what brokers actually bring to the table, which includes accurate valuation and strategic pricing, negotiation expertise and deal structuring. In many cases, our involvement leads to net proceeds that exceed what a solo seller might achieve, even after fees are paid.
3. Social Media & Due Diligence
Posting anonymously on Facebook or classifieds may generate inquiries, but they’re often from unqualified buyers, competitors fishing for information or corporate entities looking to lowball. Brokers maintain databases of serious, vetted buyers: dentists with financing, clear intentions, and alignment with your practice philosophy. We not only advertise a practice on a local basis, but we advertise on a national basis, something the average seller doesn’t have the capacity to do. Plus we monitor the phones 363 days a year and if there is an interested buyer, we respond immediately. Often the seller doesn’t have adequate time to do that.
4. Legal and Financial Professionals Are Not Transactional Strategists
CPAs and attorneys are critical. But their roles are complementary and are not interchangeable with brokers. A CPA can tell you what your practice is worth. A broker can tell you what the market will pay. Those numbers aren’t always the same. Attorneys draft contracts, but they don’t identify red flags in deal terms the way a seasoned broker would.
5. Emotions Matter and Can Derail a Sale
Selling your practice is deeply personal. Sellers often overestimate value, underplay weaknesses and struggle to stay objective. Brokers bring neutrality and experience that protect both your legacy and your financial outcome and know how to set up the structure of a deal from day one by aligning the right dental attorneys and dental banks to set up a proper foundation. There is some level of chaos which occurs and since the broker is the only person in the middle that could talk to buyer and the seller, simultaneously along with the two attorneys and the bankers, they can often help negotiate and reduce and solve the chaos that often can occur. Maintaining absolute confidentiality by having every prospective buyer sign a nondisclosure agreement is a critical first step in the sale of a dental office.
In conclusion, dental brokers are not becoming obsolete, they are becoming more essential, particularly as private equity interest, DSO activity and competitive market pressures increase. Sellers deserve informed guidance, market reach and strategic insight – not just a listing and a lawyer. Selling a dental practice without a broker can work. So can pulling your own tooth. But that doesn’t mean it’s wise.
