Most small businesses are sold without the help of a business broker. However, if you decide to hire a broker for business valuations, here are some suggestions on how to choose the right broker.
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In many countries, you don't need training or certification to become a business broker. In other states, real estate agents require a real estate license.
These states often have real estate agents who act as additional businesses as intermediaries. When you work with a broker who is also a real estate agent, you make sure that being a business broker is more than just a hobby.
You're paying a lot of money for the realtor's knowledge and experience – you need to make sure they have that experience when it comes to selling businesses, not just selling homes.
Business Brokerage Fees: The brokerage can provide the sellers of a business with two advantages. First, it can find potential buyers while maintaining the privacy of the seller. Second, the broker qualifies these potential business buyers in such a way that the seller saves time by not having to deal with bad prospects.
Brokerage Guarantee – Add a paragraph that says you don't have to pay a commission if you find a buyer. Without this clause, regardless of who finds the buyer, the agent will usually receive the payment. Before signing a listing agreement, an attorney should review it to make sure your interests are protected.