What should I do if my business broker stops responding?

Silence from a broker in the middle of a sale is a problem you can work on in order. The aim is to get an answer, build a record and keep your options open. Before you cancel or hire someone else, check whether your agreement could leave you owing a fee to both brokers.

Build the record

Write down every call, email and message, with dates, and keep copies. Then send one clear written request: say what you need, such as an update on enquiries or on any offers, and set a reasonable date to reply. Your agreement may say who your contact is and how often the broker must report, so read it first and refer to those terms in your message. The listing agreement answer shows what to look for.

Escalate inside the firm

Write to another person at the firm, such as the owner or manager, with the same request and your record attached. Ask who is responsible for your file and when you will get an answer. Keep the tone factual. If a buyer or an offer is waiting, say so. BDC describes the letter of intent stage as the point where, after initial marketing and buyer interest, a serious buyer submits a letter of intent.

Give formal notice before you change course

Éducaloi says you can sometimes cancel a contract if the other party is not performing its obligations, and that in many situations you must send a demand letter before going to court. In Québec, the Civil Code of Québec also provides that a mandatary must act with prudence and diligence, and that a client may unilaterally resiliate a contract for services, subject to paying what the Code sets out for costs, expenses and work already performed. Whether those rules fit your agreement is for a lawyer to say. Before you sign with another broker, ask the lawyer how the first agreement’s fee and tail terms apply to buyers already introduced.