Buyer Beware - Peddling Illegal Business, Not Fully Disclosing Details, No One is On Your Side
I have been researching QuietLight listings for over a year now and its just busting with red flags and scams. Agents are strangely rude and combative, above and beyond reasonable business etiquette. The time they were selling an illegal business: In one case, a business's entire revenue model depended on reselling tickets. Which was prohibited by the venue's own published rules. Yet the QuietLight listing represented the business as fully compliant. The time they didn't do proper technical diligence, and ignored it when I did: In another case, I conducted a deep technical review of a SaaS business and found a serious infrastructure problem. The technology was hanging on by a thread and would require substantial modernization to remain viable. None of this was made known or factored into the valuation. I raised the issue with the agent who did nothing. I didn't want the business of course, but I know whoever did go through with it got stuck with that unpleasant surprise. Buyers should not have to discover material risks after they've already committed to a transaction. As some sort of negotiation strategy, they pair dishonesty with scammy, cringe negotiation tactics in which they have toddler-esque tantrums and act offended at any offer below asking. As if facilitating offers is not the job they are paid way (too much) to do. Their only negotiation strategy seems to be to become emotional, volatile, and adversarial. I feel bad for the suckers who fall for this posturing. Hot tip: making a seller feel safe, confident, and trusting in your and your business is a way more effective way to close a deal over playing juvenile mind games. I've also had experiences where I presented an offer supported by market comps and came prepared with specific, legitimate due-diligence questions, only to encounter an over-the-top, combative response from the broker. Disappointing from a firm that positions itself as facilitating transactions "fairly and professionally" for both the buyer and seller. Another bold faced lie. Whatever their game is, they lost my trust and quite a bit of money from me on deals over the years due to this dishonest, concerning behavior. After more than a year of researching QuietLight's marketplace, my conclusion is: I can't trust them and I'm taking myself off of their list.
By Dave