Code of Professional Responsibility
Business Broker Council members must agree to the following professional ethics code as a condition of membership. The Council reserves the unilateral right to suspend or terminate membership for violation of this Code.
Rule 1 – Golden Rule
We follow the Golden Rule, that is, we treat others with the same courtesy and respect that we would like to receive.
Rule 2 – Good Faith Efforts
Whether representing a seller or buyer, we make good faith efforts to achieve our client’s goals, subject to applicable laws and regulations. This includes, but is not limited to, promptly submitting to our client all offers and counter-offers made.
Rule 3 – Dual Agency
We make written disclosure to, and get consent from, seller and buyer to dual agency representation. We do not serve as a dual agent where such representation creates a conflict of interest that prevents us from making good faith efforts to achieve both clients’ goals.
Rule 4 – Material Connections
We disclose to each client in writing any known material connection we have to a business that may be adverse to the client’s interests. This includes, but is not limited to, personal and financial relationships we have with a business, its principals, or employees.
Rule 5 – Prompt Communication
We provide our clients with at least two methods to contact us and make good faith efforts to respond to client inquiries within one business day.