1) A good broker should have several years of business broker experience and should have completed a minimum of several business sale transactions.

• Alternatively, a broker with less experience who meets other criteria established here should have evidence of a strong mentor with the necessary knowledge and skill.
  • It's even better if the broker's experience includes transactions that approximate the size of your transaction.
  • In evaluating a broker, ask about his/her educational background, previous work experience and/or business ownership.  You need to know the person who may be handling your largest asset!
    • If the broker has some sort of professional designation (CBI, CPA, etc.), it may be a good indication of competence, but should not necessarily be a major factor in your determination.

2) A broker should be working full-time in business brokerage.

• Ask the broker if he/she is working full time in the profession.  There are many individuals attempting to work in business brokerage on a part-time basis, while also trying to earn a living in other ways.  With few exceptions, a good broker will be working full-time at business brokerage.
  • If you are also selling real estate with your business, you'll need a licensed real estate agent as well.  Many business brokers are also licensed real estate agents.  Conversely, there are many real estate agents who dabble in business brokerage.  Unless the value of your real estate far exceeds the value of your business, never use a real estate agent who is not a full-time business broker as well.  Always try to use a full-time business broker who has obtained a real estate license primarily to satisfy the needs of business sellers who also own real estate.

3) At the appropriate time, a broker should be willing to provide references to past seller clients.

• For confidentiality reasons and to keep from bothering past clients, some brokers may be hesitant to provide client references early in the "courting" relationship.  But the broker should be willing to provide references after preliminary agreement has been reached on an offering price and imminent to your decision to sign the listing agreement.

• • • • • • • • • • • • • • • • • End of Preview • • • • • • • • • • • • • • • • • •

So far, you have read less than 20% of this very valuable Special Report which is packed with Insider Secrets to Selling Your Business.

To download the full content of the Special Report, please provide the following information and we will email a download link to you.