IAG Reviews (%countItem)
IAG Rating
Address: 4004 Beltline Rd Suite 112, Addison, Texas, United States, 75001
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We appreciate your feedback and hope your exit is a satisfying one.
Very non truth full of what they could accomplish selling our business. $6000.00 later haven't heard from them in months.
We contracted with these people to sell our restaurant in Sun City Az. They made us pay $6000.00 up front for an appraisal. They came back and told us our business was worth $90000.00. We do over 600 thousand dollars a year in business for 13 years, and have a customer base worth a lot more money than that. We haven't heard from them since and they misrepresented the value during the interview. To me it was a scam.
We want our money back and never have to listen to there *** any more. We caution anybody who they tell that they will sell their business for good money to really think before they act. They are not truthful.
Our buyer department has left messages for the business owner, the most recent call (Oc. 31st) was regarding a buyer that has interest in your business that has received information and would like to speak to you. A message was left for you to call our buyer department to no avail. Also, we have not received any response from you when sending account updates. We have a total of 11 registered buyers that have signed the Non-Disclosure Agreements which means they have received your financials. We have over 700 clicks and views. We are finding buyers and continuing to pull buyer lists and work with our affiliates to find more buyers.
You mentioned you had an issue with the valuation you purchased. The independent valuation firm that prepared your valuation, is fully accredited and highly regarded. You did indeed "do over 600 thousand dollars a year" however your discretionary income and other factors are also part of the valuing process which determines the bottom line. Your asking price is not just based on your annual revenue but many other factors including 0wner's profits, competitive edge, bankability, industry standards and more. We would like to work with you to resolve your issues and concerns.
(The consumer indicated he/she DID NOT accept the response from the business.)
We were misled by the gentleman who took our application at our house. He suggested that the business with what we told him, was worth a lot more than the appraisal that came back. I guess that was just to get our $6000.00. It's a shame that a company makes you think one thing, when in actuality it was a whole different story. Why in the name of God would we give someone $6000.00 to tell us that our business is only worth $90000.00? We would have never proceeded with this if we even remotely thought our business was worth only $90000.00. You can think what you want, but they should guide prospective clients in the right direction and not mislead them. I am filing a complaint with the Attorney General. This is a scam and it needs to stop. All we want is our money back and never deal with dishonest companies like them again and hope they don't do this to any other honest hard working people.
I would like to advise the Revdex.com that this situation was totally resolved by IAG. We worked out a satisfactory conclusion and I am more than satisfied. I would like to thank Ellie and Linda *** for their professionalism and urgency handling this situation. Once again this matter is closed as far as I am concerned and I am totally satisfied.
Charles Olson with IAG.LLC is one of the hardest working business professional that I have ever seen and I have worked with many professionals. He called when there were no leads in selling my business and called when there were leads. When I was about to give up the process of selling my business, he would give me a call which would encourage me to keep going. There wasn't a lot of money to be made from the sale of my business for IAG but Charles gave me top rate service. I sold my business with the assistance of Mr. Olsen and would recommend him highly to anyone.
This company makes you pay 10k for a business evaluation that other brokers do for free. They claim to not have any affiliation with exodus but do your research.
Regarding the statement that "company makes you pay 10K for a business evaluation that other Brokers do for free", is incorrect. The Valuation, Offering Document and Executive Summary that IAG,LLC ordered and received from Exodus Business Solutions are unbiased, fully accredited documents that are court defendable. The Valuation determines what the asking price range is and the Offering Document is a synopsis of the business that is sent to buyers and which fully explains all aspects of the business. Our client signs a 3-year agreement with IAG, LLC which begins the process of showcasing businesses to the buyer community. IAG, LLC then manages the process and fields buyers as they come in and facilitates the sale. In today's market, buyers expect a breakdown of revenue and full accountability when looking for a business to buy; IAG, LLC provides that service. Exodus Business Solutions is a vendor for IAG, LLC which supplies the Valuation, Offering Memorandum and Executive Summary. We utilize Exodus and other firms to prepare documents for our clients. Once the documents are received, a conference call with the business owner(s), the valuation company that prepared the documents and IAG, LLC occurs. During that call a starting price is set, and marketing begins. IAG, LLC wants our business owner's business to be displayed in the best possible light and all our preparation sets us apart from brokers and realtors. Feel free to contact IAG, LLC with any questions.
I specifically asked the sales person you sent to my house if I could list the business without it and his answer was no. I then asked him for the name of the company that would be doing the evaluation so I could research them and I was told I couldn't have that information at that moment.
In response to the question regarding listing with IAG, LLC without the necessary reports (Valuation, Offering Memorandum, Executive Summary) IAG cannot issue a listing without full documentation from our sellers. This is because buyers expect clean, concise information when they are looking to purchase a business and it is imperative that the reports be prepared by an impartial third-party valuation firm. In today's marketplace, buyers anticipate financial statistics that show how the business has performed in the past; along with their current pecuniary situation as it relates to its daily operations. Today's buyers are savvy of this effective process and require all the data to be readily available before making any offers. IAG, LLC has vendors that prepare documents.
As it pertains to who generates our valuations, consultants cannot know or decide who our corporate office will use. That is the job of our Executive Board after reviewing the information gleaned from the consultant when visiting the business owner, to then determine which valuation company is best suited to prepare the necessary documentation. Also, regarding the comment about the relationship with Exodus, they are one of the vendors we utilize but they are not affiliated with IAG. At IAG, LLC it is vital to showcase valuation information that is both accurate and flaunts the business in the best possible light.
SICK OF THEIR CALLS
THIS BUSINESS CALLS OUR COMPANY REPEATEDLY WANTING TO KNOW IF WE ARE WILLING TO SELL OUR BUSINESS. I HAVE TOLD THEM NO. I HAVE TOLD THEM *** NO. I HAVE TOLD THEM *** NO. THEY CONTINUE TO CALL. I AM SICK OF IT. THE NEXT PHONE CALL WILL BE MET WITH A REFEREE WHISTLE IN THE EAR.
THIS BUSINESS CALLS OUR COMPANY REPEATEDLY WANTING TO KNOW IF WE ARE WILLING TO SELL OUR BUSINESS. I HAVE TOLD THEM NO. I HAVE TOLD THEM *** NO. I HAVE TOLD THEM *** NO. THEY CONTINUE TO CALL. I AM SICK OF IT. THE NEXT PHONE CALL WILL BE MET WITH A REFEREE WHISTLE IN THE EAR. NO MORE CALLS FROM THIS BUSINESS, OR I WILL FILE A POLICE REPORT!!!!!!!!!!!!!!!!!!!!
We at IAG certainty do not want to continue to call a business owner who has no desire to sell their business. If we could get a phone number we will add to our do not call list as we know that a business owner's time is very valuable. Please call me at 972-331-7365 so I could get your phone number to add to the do not call list. We are sorry for any convenience this has caused you. Our business development division is confidentiality searching for business owners who are wanting to sell as we have buyers that are looking to buy.
(The consumer indicated he/she DID NOT accept the response from the business.)
Cold calling with pushy salesmen to buy people's businesses? What a rude way to do business. You've called THREE times, after I told you to stop. So your "apology" is not accepted. If you call again, I will file a police complaint.
Taking money and not producing accurate results as well as misrepresentation ignoring their own contract.
Signed up in March 2018 - was given a contract for the amount of 9000.00. 4500 first installment was due immediately and the second was to be done when the appraisal and ads were completed - approved and ready to go "live". We were required to submit the second installment of 4500 in June 2018 when we did not go live till December of 2018 due to inaccuracies from IAG and their representatives information regarding our business. We are an automotive repair shop - all of the reports that were given were based on a "Transmission Specialist" shop and the employee's listed - never heard of them. Their salaries - not from my bank. The appraisal was based on this incorrect data. I waited to hit the one year mark with zero results from IAG and then placed a complaint directly with IAG expressing our disappointment and desire to recover the funds given to IAG. I received an immediate contact that it would be brought to the "Boards" attention that week (March). Since that contact I was told they still have time to produce leads and sell the business if we would lower the price!!! They have been told that our business has grown over 30% consistently for the past 6 months and their answer was to lower the price.
I want a refund - we have been scammed!!
They have no idea what our business is or who we hire and what we do - not to mention, not a single lead.
A full refund.
In response to the complaint dated 5/15/2019 IAG, LLC did order and pay for a Valuation, Offering
Document and Teaser from a fully accredited third-party vendor per our agreement. The business
owner paid 1/2 of the retainer when they signed up and the rest on 6/27/18. When the final payment
was received from the client to start the project, our vendor began the preparation of the reports per
the agreement documents on 6/27/18. The project was delayed due to lack of financial information
needed from the client to complete the valuation process. Once the required financials were received
the valuation firm sent out the preliminary reports to the client 10/10/18 for editing. The client indicated that there were errors. The errors were fixed, and the reports were adjusted. On Oct. 30, 2018 a conference call was done which included IAG, the Valuation firm and the business owners who agreed upon an asking price of $442,000. The marketing plan was determined with the client's approval and buyer lists were pulled. Our internal database was searched for registered buyers and affiliated deal makers/brokers were notified of the new listing and to check for buyers. A Transaction Specialist was assigned to the account. We then began the marketing of the business on external listings which did bring buyer interest. IAG, LLC also had the business owner's business pre-approved for an SBA loan. A progress report was sent to the owner showing the status of the buyers. Our contract clearly states the we can't guarantee that we will sell the business. We prepared the business for sale and searched for buyers and had the business ready for the SBA process if needed. We would very much like to continue the marketing plan with our client. We left many messages for the Mr. and Mrs. Saul's to no avail.
(The consumer indicated he/she DID NOT accept the response from the business.)
9/17/18 to Aaron Davis from me
(now stating they are waiting on previously sent items)
I resent the employee list which should have been part of the workbook completed and sent to *** - as well as the top customer's. Would you like the entire workbook sent to you?
I also have resent the pictures, let me know if you are not getting them please.
Steve *** will be the one doing the interview. Should he be calling you or Ron?
9/17/18 me to Kris Quistgard
"We have given all we have to Aaron - please read what I have wrote.
Steve will do the phone interview with either Ron or Aaron tomorrow.
It's been a long while since we have heard from you.
- I realize that we have paid prior to receiving or going to market.
- What can we expect and when?"
9/24/18 me to Kris Quistgard
"When should I be expecting to see the "Marketing Package"? "
9/27/18 from Aaron Davis
The documents are complete and currently under review by the CEO of Exodus, Keith Campbell. After his revisions are made he will send the documents to you directly. With that being said, he is out for the rest of the week for business travel so I am hoping early next week. I will keep you updated on the status of the documents.
Thank you for your patience,
10/11/18 me to Aaron Davis
Good Morning Aaron,
Looks like other peoples information might have gotten mixed up with ours.
Personnel are not people I know. That should have our employee's there correct?
The wholesale to retail sales do not look right but I will check those out.
Unable to open the first attachment that says "noname"
Should the information which is contained in the reports be factual regarding the employee's and such?
Our Business started on 02/03/2003 - and other items looks off.
10/11/18 FROM AARON TO ME IN RESPONSE
***,
Please find attached the documents which include the correct information. In regards to the date the business was started it was stated on a form from IAG that the business was started in 2001 but that is no problem I made the change. Additionally, I have fixed the employee section and organizational chart. While looking through my records I do not see a top customer list. I know we had talked about it in the past but if you can please resend it to me I can add it to the document quickly. Furthermore, please be advised that these changes will not have any impact on the valuation and if you have any more edits send them back to me directly and I will happily make the changes. If you also still cant open the documents let me know and I will figure out another solution so that you have access to them before I schedule our call.
10/23/18 from Aaron to me
When
Tue Oct 30, XXXX Xam - 10am (PDT)
Where
XXX-XXX-XXXX Access ID; XXXXX
Who
***, Jeannette Zimmerman, Steve ***, Sr., Aaron Davis*
10/24/18 from me
Steve still needs to review the paperwork - like I said I already have. I will sit him down this evening and shoot for tomorrow getting the corrections back to you.
What I can already tell that I saw is
Our Rent is 3293 monthly
Our sq ft is 3600
Those are the two that stuck out to me from my review.
10/30/18
here is the actual meeting and who attended the conference call:
XXXXX-MakeStar Automotive CBR & Valua...
When
Tue Oct 30, XXXX Xam - 10am (PDT)
Where
XXX-XXX-XXXX Access ID; XXXXX
Who
***, Jeannette Zimmerman, Steve ***, Sr., Aaron Davis*
_____________________
11/28/18 from me to Ja'Neise ***
Hi Ja'Neise
Teaser? Like a little overview ( I am sorry I do not know what you are looking for).
Pictures - I will send you all I can today.
I am *** - Steve's wife and I am the better contact for this stuff. I check my email daily, as I sit at a desk all day.
Thank You!!
***
MAKESTAR Automotive
XXX-XXX-XXXX
***NOTICE THE PHONE NUMBER AND THAT I SIT AT MY DESK ALL DAY
IAG CLAIMS THEY'VE LEFT MANY MESSAGES - HOW IS THAT WHEN I ANSWER THE PHONE - WHAT NUMBER ARE THEY CALLING - WE DO NOT HAVE AN ANSWERING MACHINE ON THAT NUMBER?? WHEN I SENT MY FIRST COMPLAINT LETTER TO THEM - THEY CALLED ME AND REACHED ME JUST FINE THE FIRST TIME.
I HAVE SENT EMAILS TO *** SINCE ASKING WHERE WE ARE WITH THE COMPLAINT AND REQUEST FOR REFUND (TO THE SAME EMAIL THE COMPLAINT WENT TO AND RECEIVED RESPONSE) AND HAVE NOT HEARD ANOTHER WORD. AND THAT IS WHY I CHOOSE TO FILE THE COMPLAINT THROUGH THE Revdex.com FOR RESOLUTION.
FROM Ja'Neise to me in response 11/28/18
That sounds good, thanks ***!
In regard to the teaser, I was under the impression it had already been sent to you by my colleague Jeannette Zimmerman. It looks like she is still working on the teaser, once it is complete I will send it to you for your review and approval.
From me to Ja'Neise in response 11//28/18
Just for my own clarification - does this mean we still have not hit the market yet?
From Ja'Neise to me in response 11/28/18
Yes that is correct, your approval of the teaser was a necessary step before moving forward to any external marketing sites. Nonetheless, we have worked with private equity firms, performed searches of buyers in our database that have shown interest in your type of business in your area. Also, we have notified our Transaction Specialist Teams, affiliates, and business brokers that your business is in the process of going to market. Now that we have your approval we are now moving to Level 2 which begins the external marketing.
My opinion:
I DO NOT SEE THAT FINANCIALS HAVE ANYTHING TO DO WITH THE DELAY HERE. WOULD APPEAR TO ME AS THOUGH THEIR INCORRECT INFORMATION THAT THEY HAD REPRESENTED WAS THEIR HOLD UP.
AS FAR AS THE FINANCIALS - KRIS QUISTGARD WAS TOLD FROM THE FIRST MEETING AND MANY PHONE CALLS AND EMAILS WITH MY CONCERNS - I HAD NEVER DONE A BALANCE SHEETS INTERNALLY AND USED OUR CPA FOR TAXES WHERE THEY WERE GENERATED ANNUALLY.
I WAS REASSURED MANY TIMES THAT THIS WAS NOT UNIQUE AND WOULD NOT BE A PROBLEM. I ASKED IF I SHOULD PUSH TO HAVE THE PREVIOUS YEAR 2017 TAXES DONE TO KEEP THE BALL ROLLING. IT WAS NOT UNTIL SPEAKING WITH RON FROM EXEDUS DID I GET A STRAIGHT ANSWER THAT THE BALANCE SHEET WAS A NECESSITY AND HAD TO BE DONE FOR HIS END OF THE EVALUATION - RON AND I AGREED THAT THE BEST COURSE OF ACTION WOULD BE TO SUBMIT THE TAXES TO THE CPA AND GET ONE COMING TO THEM. TOO BAD IT TOOK HIM 5 MINUTES TO GIVE ME THE STRAIGHT ANSWER I HAD BEEN LOOKING FOR OVER THE PAST 8 MONTHS.
12/6/18 ME TO JA'NEESE
RECEIVED THE TEASER
This teaser is much closer to who we are (not sure where the transmission stuff came from originally).
I am forwarding pictures as well.
December 2018 thru March 2019SILENCE - SILENCE - SILENCE
3/25/19 EMAIL FROM *** TO ALL THE IAG CONTACTS
SUBJECT: VERY DISAPPOINTED
I feel we have been more then patient but, we are disappointed in the representation that we are alleged receiving.It has now been a year since we signed up with You and AIG, the results are less then represented and unacceptable. It is our intent to move forward on getting back our funds that were allocated to AIG total of $9,000.00. To date I have the numerous emails and an appraisal which was done on a "Transmission shop" and employee's that were not from our establishment. We remained calm and cooperative during the misrepresentation of the business. Ron from Exedus is also aware of.The second half of the funds ($4,500.00) which was required 6 months ahead of the actual time the funds were due per the contract (yet were required by you). Very unhappy with the results and misrepresentation. Make no mistake, it is our intent to recover our funds.
3/26/19 FROM *** TO ***
Dear Ms.,
I will present your issue to our Executive Board this week. I will get back to you as soon as I have an answer for you.
3/26/19FROM ME TO ***
Thank you for the quick response. I look forward to hearing from you.
SPOKE OVER THE PHONE WITH *** AFTER THIS EMAIL AND THEIR RESPONSE WAS PRETTY MUCH WE HAVE DONE THE WORK AND WE WOULD LIKE TO LOWER THE ASKING PRICE. I INDICATED THAT WAS NOT GOING TO WORK FOR US AS OUR INCOME HAD GROWN OVER 30% FOR THE PAST 6 CONSECUTIVE MONTHS. WE WOULD LIKE REFUNDED.
THEIR ANSWER IS TO D EVALUATE OUR BUSINESS DURING A GROWTH PERIOD AND ZERO ACTIVITY OR COMMUNICATION FROM THEM. THINK MAYBE SOMEONE SHOULD HAVE ASKED THE STATE OF THE BUSINESS?
The following email was a "reply" to the above and should have been received - but to date there has not been no response.
4/17/19 from me to ***
I have not heard a word since the meeting you stated in your email and phone call you placed to me.
What is the official form or procedure to request a refund still needs to be answered please. Thank You.
more attached
In response to the claims that we have not attempted to contact you, the phone number that
was indicated and was filled out by the owner on the Client Summary as the Confidential Phone
Number contact to be used number ends with 3954. Messages have been left on that number to no
avail. Many of the issues raised were with the valuation company that IAG hired to prepare your
documents. However, we are responsible for our clients and have been attempting to reach you to work
on a resolution to this issue. I, *** did suggest a drop-in price only because when we do so it
brings your listing to the top of all external advertising. The drop can be very small but is beneficial as
buyers will see your listing near or at the top of their sites. We have done extensive searches in our
databases, with affiliate brokers and have contacted potential buyers on your behalf. We want to
resolve this issue. Please contact me directly @ XXX-XXX-XXXX.
Final Consumer Response /(2000, 22, 2019/07/05) */
David has always been a patient and knowledgeable advisor.
He looks out for your best interest and you'd have a difficult time finding someone as good.
Definitely would recommend IAG and David to anyone looking to buy or sell a business.
IAG helped me sell my business! There are a lot of other "brokers" out there, and tons of sites to list on, but IAG found more than one interested buyer for our business to give us options that helped us make the best decision.
They spam call my business and when you ask to be on the DNC they hang up.
They spam call my business and when you try to tell them no they hang up. You call back and get a voicemail. I spoke to a lady who has another number you call and says she will DNC you but does not. The calls continue.
That they be blocked from spam calling numbers who are on the FCC DNC.
5-16-2018
As soon as we received the complaint Linda *** (Senior Director of Business Development) checked the do not call list and found XXX-XXX-XXXX was indeed listed already. We attempted to contact the owner with no success. We are very careful to not disrupt a business owner again that has indicated to us they have no desire to sell their business. Perhaps they have another business number associated or forwarded that we are unaware of. If so we will absolutely add any numbers to the do not call list so there is no chance of IAG contacting the owner or the business again.
All representatives from IAG are RUDE and horrible to deal with! You should not be in business.