If you are thinking about selling your practice, one of the most important steps is making sure the person representing you is properly licensed. In Arizona, a broker’s license is not optional when it comes to practice sales — it is the law.
Unfortunately, many people are “brokering” business sales without the license required to protect you. That puts physicians at risk of working with someone who isn’t qualified or regulated.
What the Law Says
The Arizona Department of Real Estate (ADRE) has made it clear that business brokerage falls under real estate law. That means anyone who helps you sell your practice must be licensed and operating under a licensed brokerage.
Here are the statutes every physician should know:
Negotiating a practice sale without a license is not a small matter. It is a
Class 6 felony in Arizona and can carry fines that may reach
$10,000 or more, along with other criminal penalties.
Why This Matters for Physicians, Dentists and Veterinarians
You wouldn’t trust a dentist who wasn’t licensed. You wouldn’t see a veterinarian or physician without credentials. The same logic applies when selling your practice. If your “broker” isn’t licensed, you have no guarantees that they are following state regulations or safeguarding your interests.
This is especially important for dentists. Many of the doctors who asked us for help with practice sales came from dental practices. They wanted the same level of trust, expertise, and compliance they expect in their clinical world applied to the sale of their practice.
Why GILE Offers Business Brokerage
We launched our business brokerage division because our clients asked for it. Many physicians who worked with us to lease or buy space later wanted help when it was time to sell. We saw a gap in the market — too many unlicensed individuals offering to handle practice sales.
By being both licensed real estate brokers and experts in healthcare practices, we make sure your transaction is handled legally, ethically, and with the specialized knowledge you deserve.
What to Do Next
Before you sign with anyone to sell your practice,
check the Arizona Department of Real Estate website to verify that your broker is licensed. It only takes a minute, and can save you from costly risks.
