One thing is certain, Dentists will shop around for services, especially if there is a fee to be paid. For instance, we have recently fielded calls and questions about the ADA’s ADAPT program and what they have to offer. Rather than quiz us about it, may I offer a few questions you might want to ask when you give them a call, especially if you are a prospective seller? I’m sure their answers will be really insightful.
Well, we decided to save you some time and answer the questions for you.
- What is the name of the local representative that will be meeting with you and handling your transaction? There are no local representatives.
- What experience or credentials does that person have? See above answer.
- What methods of valuation will they be using? The ADAPT model does not do valuations.
- What lenders can they recommend in your territory? None
- What legal assistance will they be offering? The ADAPT model does not provide or make recommendations for legal services.
- How many transactions have they consummated in your area? None known. Call me if you have.
- How many transactions have they consummated nationwide? Rumor has it that they have accomplished eight (8) matches. The number of actual sales is unknown.
- What is the true, total cost of a transaction when using their services? Unknown as it depends on the cost of outside services.
- Will they help with securing a lease for the new owner? No
- Who will manage the closing? Likely you will.
Perhaps as a way of comparison, you might want to review the “Services for the Seller” and “Buyer Services” links from our website. Maybe it will spark some additional questions for your ADAPT agent.
One final question might be: as an ADA member, are you satisfied with the results of spending a reported $8 million to fund the ADAPT program? Personally, I might be inclined to call my local Trustee.