TREADSTONE LAW · ONTARIO · DIGITAL LEGAL SERVICES · EST. MMXXI ·TSL
Learn/Ask a Lawyer/Buying & Selling a Business/Should I ask for references…
Buying & Selling a Business

Should I ask for references from a broker's past clients before signing?

TSL Written by the Treadstone Law team· Updated August 2026

Yes, it's a reasonable and common request, and a broker with a genuine track record of satisfied clients should be comfortable providing at least a few. References can tell you things a broker's own pitch won't — how responsive they actually were during the listing, how they handled a slow period with little buyer interest, whether marketing matched what was promised, and how smoothly (or not) the eventual closing went.

When you speak with a reference, ask open-ended questions rather than ones that invite a simple "yes" — what would they have wanted done differently, and would they use the same broker again knowing what they know now. A broker who's reluctant to provide any references at all, or who can only offer one carefully chosen example, is worth more scrutiny than one with a range of past clients willing to speak candidly. References don't replace reviewing the listing agreement itself, though — a Treadstone business lawyer looking at the actual terms, alongside what references tell you about how the broker performs in practice, gives you a fuller picture before you sign.

Key takeaways

  • Asking for past client references before signing is a reasonable, common request.
  • References can reveal responsiveness and follow-through in ways a broker's own pitch won't.
  • Ask open-ended questions rather than ones inviting a simple yes.
  • Reluctance to provide any references at all is worth extra scrutiny.
This is general information, not legal advice. It doesn’t create a lawyer–client relationship, and the rules can change. For advice on your situation, a Treadstone business lawyer can help.
Was this helpful?Share:

Go deeper

Still have questions?

Search 6,000 answers, or send yours to a Treadstone lawyer — we answer in plain language.

All answersStart a File →