Required disclosures
Brokerage Disclosures
Who we are licensed as, and what relationship we have with you.
Licensed brokerage
The Exit Strategy Co. and The Deal Strategy Co. are registered trade names of The Exit Strategy Group, LLC, a licensed Florida real estate brokerage, license #CQ1069288. Our principal office is at 1600 E 8th Ave, A200, Tampa, FL 33605. Dr. Jamie Klingman is the broker of record.
In Florida, brokering the sale of a business is licensed activity. Section 475.01(1)(a), Florida Statutes, defines a broker to include a person who, for compensation, negotiates the sale or purchase of business enterprises or business opportunities as well as real property.
Brokerage relationship
Under section 475.278, Florida Statutes, a real estate licensee in Florida is presumed to be operating as a transaction broker unless a single agent or no brokerage relationship is established with you in writing.
The Exit Strategy Co. works with sellers as a transaction broker unless we agree otherwise with you in writing.
As a transaction broker we provide you with limited representation. We do not represent you in a fiduciary capacity, but we owe you:
- dealing honestly and fairly;
- accounting for all funds;
- using skill, care and diligence in the transaction;
- disclosing all known facts that materially affect the value of the business that are not readily observable;
- presenting all offers and counteroffers in a timely manner;
- limited confidentiality — unless waived in writing, we will not disclose that you will accept a price below asking, that you will accept financing terms other than those offered, your motivation for selling, or any other information you ask us to keep confidential; and
- any additional duties we agree to in writing.
If you would prefer us to act as a single agent, with full fiduciary duties of loyalty, confidentiality, obedience and full disclosure, tell us before you sign an engagement. That relationship must be established in writing.
Florida’s statutory written disclosure notices under section 475.278 are required for residential sales as that term is defined in the statute. Most business brokerage transactions fall outside that definition. We provide this disclosure anyway, because you are entitled to know how we are working for you.
Information for buyers
If you are a buyer, visit The Deal Strategy Co. for information directed to buyers.
Where we are licensed
The Exit Strategy Group, LLC is licensed as a real estate brokerage in Florida, license #CQ1069288. Our brokers are also licensed in Georgia, Kentucky, Alabama, Missouri, Delaware, Washington, Montana and Illinois. Licensing requirements for business brokerage vary by state, and some states regulate it under real estate law while others do not.
We do not conduct licensed activity in a state where we are not licensed to do so. Where a transaction reaches into a state outside our licensure, we say so and co-broker with a locally licensed firm rather than stretch. State license numbers are available on request and are listed in your engagement letter.
Fees
Our compensation is set out in writing in your engagement letter before you commit to anything. Sell-side listing engagements are structured around a success fee payable at closing. The Exit Readiness Program is structured as an assessment fee plus a recurring program fee. Consulting engagements are scoped and quoted separately.
Fees are negotiable and are not set by law or by any trade association.
No guarantee, and no advice
We do not guarantee that your business will sell, or that it will sell at any particular price or on any particular timetable. We are not attorneys, accountants or investment advisers, and nothing we provide is legal, tax or investment advice. You should retain your own counsel and CPA for a transaction of this kind, and we will work alongside them.
Valuations and readiness scores
Any indicative value range, readiness score or market comparison we provide is a broker opinion prepared for your internal planning. It is not a certified appraisal and should not be represented as one to a lender, a court or a taxing authority.
Complaints
If you believe we have not met our obligations, tell us first through our contact form. You may also contact the Florida Department of Business and Professional Regulation, Division of Real Estate, 2601 Blair Stone Road, Tallahassee, FL 32399, or the corresponding regulator in the state where the transaction took place.