There is a common misconception that a dental broker is only needed for real estate drafting and tenancy disputes, but the reality is that sometimes the insight and guidance of an experienced dental real estate broker is crucial for your dental practice to succeed.
A broker can give you legal advice, inform you about all the aspects of your practice’s success within the chosen building and help you increase the overall profitability.
A dental practice broker is well-versed and knows how to help you set up and run a successful dental practice. They represent dentists in a variety of legal, real estate matters all the time, including those involving the retirement, purchase, or sale of dental practices.
Make effective choices for your dental practice and protect your interests with some of our best dental real estate brokers. Here are some more of the many reasons why you need one.
Experience with Business Law and Dental Industry
The healthcare industry (including dentistry) is one of the most heavily regulated sectors in the United States, with rules, public guidance, employee handbooks, administrative decisions, declaratory statements, advisory opinions, and many other regulations.
An experienced dental real estate broker can provide in-depth knowledge of the dental shareholders and focus its practice on helping dentists protect their lab and office sites, preserve or/and advance their careers, and grow their businesses within a heavily regulated real estate industry.
A good dental practice broker understands the nuances involving partnership agreements, practice purchase agreements, non-compete provisions, space sharing, dental office leases, associate contracts, vendor contracts, and all the other possible transactions.
Protecting Your Brand and Business
Your dental practice broker offers guidance on how to protect your brand through site property management and advises you on which type of protection you need for your business name, local customer recognition, and trade secrets. This can prevent competition from your practice within the same area where you do business.
Choosing the Best Real Estate Structure
When starting a new business, each person has unique real estate goals, equally as the financial ones. Dental real estate broker can help you select the most appropriate real estate structure for your practice because every commercial property project is unique and you need to ensure that your business structure is in line with your financial goals.
Employment Of the Law Issues
Whether your dental building employs one or fifty experts, staying in compliance with state and federal tenancy laws is extremely important. An experienced dental broker can advise you on issues regarding state and federal employment laws and assist you with building management and disputes, retaliation claims, communal tenancy issues, wrongful claims, and others.
Getting You the Value You Deserve
Whether you are the buyer or seller, hiring an experienced dental practice broker is imperative when negotiating the sale or acquisition of a dental practice. An experienced dental practice broker will negotiate the terms and the agreement to ensure fairness and mutual benefits to both parties.
This way, both parties are protected from the risk of liabilities, with the seller receiving a fair price for the practice and the buyer paying a sum accurately reflected as true market value.
Lease Negotiation
The dental lease agreements of your office space are carefully crafted by property owners and their attorneys to maximize the value of the property and to give the owner complete control over it.
This may not be favorable to you and your dental practice. That is why the help of a dental real estate broker is important. His/Her knowledge of lease audits and negotiation steps is essential for further understanding and addressing.
A knowledgeable dental practice broker acts on a simple ground that you have the right to be assigned a sublet, have tenant improvements, pay reasonable tax provisions, option for renewal or relocation, be assigned with exclusivity clause and recapture clause, among others.
Conclusion
As a dental business owner, you have to think about things such as hiring professionals to assist you with your business. A good dental broker is familiar with necessities crucial for your existence and relevance. Connections to accountants, tax professionals, financial planners, business management consultants, lenders, insurance brokers, and other advisors to whom you can be referred are a great advantage of a broker’s business.
Whether you are ready to purchase, expand, relocate, sell, or retire from a dental practice, a dental real estate broker is a man you go to. As a qualified dental broker firm, IPG has the necessary business, law, and dental industry experience to help you successfully navigate any process you may face, and protect your interests every step of the way.
Make a consultation in order to achieve your business, real estate, and financial goals. Hire our experienced dental practice broker for legal advice regarding your dental practice. IPG Group is ready to answer all your questions and assist you along the road to success.
