What Is A Business Broker

A business broker is a trained professional who helps people to buy and sell businesses. Business brokers will estimate the value of a business, advertise it, and conduct interviews with potential buyers.

If you've ever bought or sold a home, then chances are you've worked with a real estate agent.  You can think of a business broker's role being very similar to a real estate agent, only the broker is helping you to buy or sell a business.

Business owners in general do not have the time or knowledge to recognize and understand the complexities of a business transaction. Someone familiar with the nuances of selling a business will prove to be an invaluable asset. The selling process is littered with problems and obstacles and the business broker acts as a strategist of how to resolve.One of the key functions of a business broker is to act as a cushion between the buyer and theseller and negotiate the details of the deal at a time when emotions can, and will, run high.  As seasoned negotiators, brokers know how to deal with objections of a buyer that prevent a sale from closing.

Confidentiality as well as establishing the right selling price, is crucial to the success of the deal. Brokers have access to comparable prices of sold businesses.Brokers can play a very valuable role in the process as they provide guidance, advice, and an ability to effectively utilize marketing tools and other resources that you may need to make the transaction happen. Business brokers typically have years of training and experience in buying and selling small to medium sized businesses and therefore can provide you expert guidance that can save you precious time and money. Brokers are well connected with finance professionals, accountants, attorneys, and other professionals who may be needed to facilitate the sale.