"Guidance is, by nature, multidisciplinary and spans over the long term. Brokers make their resources and skills available to their clients so that, together, they can achieve their common goal: a successful sale," explains Tanguy della Faille, co-manager of Fondaris.
Remuneration is very often (largely) tied to success, ensuring strong commitment and motivation to achieve the objective. This fee structure based on a "success fee" is another key differentiator compared to other actors. Given the high stakes, both financial and human, it is easy to understand why certain professional and personal qualities are imperative to practice this profession effectively.
Yet, it must be noted that in Belgium, there is no legal framework for this profession. Unlike in some neighboring countries, access to this profession is not regulated, and the professional title is not protected. As a result, the brokerage business is unfortunately plagued by smooth talkers and sorcerer's apprentices. The damage can be severe: loss of time and money, aborted transactions, legal disputes, risk of corporate bankruptcy, etc.
While waiting for the profession to perhaps be regulated one day, Sowaccess took a welcome initiative. By requiring its accredited partners to adhere to an "ethical charter," certain minimum principles must be respected by them, under penalty of revocation: integrity, independence, confidentiality, professionalism, and transparency.
What should we think of business owners who try to sell alone or with poor guidance? Often over cost concerns—even though the commission is largely tied to results—they entrust their most precious asset to individuals who risk mismanaging the case, sometimes even rendering it unsellable later on. Certain deals, having lost all credibility, end up circulating around the market with no hope of succeeding. A good reputation takes years to build, but can be lost in a matter of moments.
"Contrary to popular belief, the broker's role is not limited to simply 'finding' a prospective buyer. That part, while essential, is only one aspect of the mission.
Guidance is above all about building a climate of trust, with both the seller and the prospective buyer. Because a good deal is one where both parties win!" concludes Tanguy della Faille.
