It’s Business, And It’s Personal

Choosing a broker to help sell a business

On Behalf of | Feb 13, 2017 | Buying & Selling Businesses |

A North Carolina entrepreneur who is looking to sell a company may want to do so with the help of a broker. However, there are many questions that a seller should ask prior to choosing one to work with. For example, it is important to know whether the broker is a Certified Business Intermediary. It may also be a good idea to ask if they’re a member of the International Business Brokers Association.

A broker should have several years of service and a real estate license. In some states, a license may even be a requirement. Business owners may want to visit the website of any broker that they are considering. While there, they should check to see how fast the site loads and how much traffic it receives.

Inquiring about the broker’s track record can help a business owner determine how likely it is that the business may be sold in a timely manner. Those looking to sell their businesses should ask how many similar companies a broker has sold in the past year as well as how long those businesses were on the market before they sold.

When selling business assets or going through with a business transaction, it may be a good idea to consult with an attorney. Legal counsel may be able to help a client work with the buyer to ensure that the deal can close in a timely manner. The lawyer may also be able to find a broker who can facilitate a sale. Ultimately, this might help a business owner avoid unnecessary setbacks that could delay that sale.