Report: #1486211

Complaint Review: NAABB - Hampstead N. Carolina

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  • Reported By: Maryann — Morton IL United States
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  • NAABB 31 Julep Trace Hampstead, N. Carolina United States

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Don’t do this unless you already to have experience in this field! Or, consider joining an existing moral business broker in your own hometown!

I went to the bank to get a loan and paid Scott Radin $20,000 with two cashiers checks to buy the right to represent two area codes in the state of Illinois under his company umbrella, two days of training, promotional materials and paperwork templates, the right to post listings on bizbuysell.com, to be part of the annual conference held in Biloxi Mississippi in April 2019, and for the representation for my company on social media via his office staff.

My biggest complaint is that he (actually his partner at that moment in the training), trained ONE way to value a business. ONE simple cut-and-dried way to muddle through tax returns and value a business. I received leads via his companies robo-calls and I worked very hard to list two very nice businesses and his staff posted them on bizbuysell.com.

Both businesses were valued incorrectly and both listings received zero inquiries. The price of the businesses didn’t make sense with their actual cash flow I later learned.   But when I went to have them posted, neither Scott nor his partner said anything about the disparate numbers.. They just let my listings sit there with zero calls about them.

I did make attempts to call people on my own who may be interested in buying the businesses with no success. In April 2019 the annual conference was held in Biloxi Mississippi where one of our successful brokers brought up that the way we were taught to value a business with NAABB is not correct. That valuing a business is an art not a science, and there are many variables to consider and you have to know what you’re doing.

The other experienced businessman agreed. The reply by Scott's partner was that it is the only way we value a business at NAABB, and it was successful for her.  Scott wasn't at the conference due to health issues. The inexperienced brokers such as myself left the conference bewildered and frustrated. I went home from Biloxi to tackle my listings to re-value them.

My listing sellers would not return my call and I lost my listings. I went to Bradley University's entrepreneurial business school to get help on valuing business and I tried to continue on to get and list new businesses. This all takes time. (By the way, you can forget his offer to pay you $200K if you jump through his quarterly required hoops and don't make a sale.

They're impossible) In the meantime, in September 2019, (one year from my buy-in), I get an email from Scott Radin curtly telling me that he will not be renewing my territory agreement. That’s it. It’s over. I’m done. He gets my $20,000. No refunds.

Now, I can see that money was spent for him and his partner flying to Peoria to train me for two days as well as costs to set up and maintain my webpage and share business templates with me (which were already in existence, I just had to replace my name and number and I helped correct the numerous grammatical errors on them), and the cost of the seven robo-dial lead blasts I received.

But I doubt that was $20,000 worth of expense. So he pockets the rest.  As a result, I STRONGLY advise against buying into NAABB to become a business broker. You’ll be set up to fail and you won’t get your money back, even when Scott Radin sells your territory to someone else… again.  

This report was posted on Ripoff Report on 10/10/2019 03:05 PM and is a permanent record located here: https://www.ripoffreport.com/report/naabb/hampstead-n-carolina-scott-1486211. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#4 Author of original report

Quit Lying Scott.

AUTHOR: Maryann - (United States)

POSTED: Tuesday, August 11, 2020

I did not have to be trained twice because I failed the first time.  I asked to sit in on Jeff's training because your said my investiment of $20K included as many trainings as I'd like to attend so long as the newest student agreed.  Jeff agreed.  I attended.  And you're a liar.  

You said I didn't understand the info and wasn't paying attention during my training...  Then why did you happily go to the nearby store to purchase a celebratory bottle of wine that you nonshalantly gave me at the end of the training?  You said, "Congratulations!  You're a business broker!" and walked away.  Then when I drove all the way to Biloxi to learn more at the annual conference, I find out there is more than one way to value a business.  That's not what you taught. 

You made it plain and simple... THIS one way is how you do it.  Then when I did get three listings, no one came to me and said the numbers don't look right- let's look at this together.  Nope.  You just sat back and let me fail then discarded me when the year was up and kept my $20K that you spent on your new girlfriend in Texas.  Hope you enjoyed that.  You'll get what you deserve in the end.  Enjoy your online encounters while I pay off my loan each and every month.  Less than upstanding you are.  

                                                    DON'T GIVE YOUR MONEY TO SCOTT RADIN  


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#3 REBUTTAL Owner of company

From Scott Radin

AUTHOR: Scott - (United States)

POSTED: Wednesday, July 29, 2020

 This was just brought to my attention. Your name is MaryAnn Redhead and you had to be trained twice because you didn’t pay attention in training and argued with us most of the time. You didn’t listen to our advice because you knew better. So lay blame where blame is due. We can only lead a horse to water. Anyone who would like to hear the whole story - call me at 910 524-4439. Scott Radin

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#2 Consumer Comment

more informaiton

AUTHOR: Al - (United States)

POSTED: Sunday, June 14, 2020

This Radin guy keeps making up new businessn names because his reputation is marred. New name, same scam.  No he is using family to hide behind.  

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#1 UPDATE EX-employee responds

Beware of Scott Radin

AUTHOR: Burned Broker - (United States)

POSTED: Tuesday, January 14, 2020

This lady is right on the money.  I have dealt with Radin in the past.  He is a smooth talker.  He will convince you why what he does is lucrative.  But it is not.  He will rip you off for $20,000 and make a load of promises. Most of which he doesn't keep.  Now he is under an new business called Global Alliance of Business Intermediaries.

If you ask me, he is just trying to hide from North American Alliance of Business Brokers (NAABB).  He keeps changing his business name.  If you are considering joining this organization, ask for proof of sucessful brokers.  He doesn't have any.  I got burned.  Don't put yourself in the same situation.  AVOID ANYTHING RADIN TOUCHES.

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