We listed our HVAC company about 3 weeks ago. Not a single call or email from anyone. I knew it wouldn't be like selling a house, but zero? Starting to wonder if we made a mistake or if the broker is just sitting on it. We're asking $1.2M, seller financing available, solid crew. Is this normal or should I be worried?
Listing
Is it normal to get zero inquiries right after listing?
3 weeks is nothing. Took us almost 4 months to get a serious buyer. But we were in a niche market. HVAC should get some attention though. Who did you list with?
Zero inquiries? You sure the listing is actually live? I'd check the broker's website. I've heard of listings being buried under 'coming soon' or just not syndicated. Not saying that happened, but worth a look.
HVAC is hot right now. Unless you're in a super rural area or your numbers are weird, you should be getting some nibbles. How's your broker marketing it? Just a blurb on their site or actually pushing it out?
Also, price. $1.2M might be a bit high depending on revenue and owner involvement. But I'm no expert. Just saying.
Honestly, I wouldn't panic yet. But I would ask your broker for a weekly update and see if they're actually doing anything. If they can't show you a markEting plan or proof of activity, that's a red flag. Some brokers just list and wait.
Lol @GrumpyPanda 'just saying' after dropping a bomb. I agree though, could be price. But zero calls is weird. Even overpriced businesses get some tire kickers. Maybe check if your broker is using confidentiality agreements that scare people off? Some require NDA before they even see basic info. That can kill interest.
OP, did you have to provide a ton of financials upfront? That could be a barrier. I looked at one listing where they wanted 3 years of tax returns just to ask a question. I passed.
Could also be that your broker has a poor reputation. Maybe check reviews or ask around. Not saying they do, but worth a quick search.
I still think 3 weeks is too early. But if you're really worried, call your broker and ask for a status report. If they get defensive, that's your answer.