Business brokers perform a similar role to real estate agents in that they act on behalf of the seller for a success fee if they sell the proprietors asset.
The difference being that the real estate agent sells a house- and the business broker sells the business for his client.
The other major difference is that the business broker has a far more difficult and complicated task. Why is this so....well because a house will always end up selling once the asking price drops to meet the market.It is only a matter of time.
However many businesses will fail to sell no matter how far their price is discounted. This can be because they do not offer any maintainable profits to buyers, or because they have a potentially fatal flaw which buyers shy away from (for example, a demolition clause in their lease).
Business brokers also have to contend with many more stakeholders in the sale of a business than does a real estate agent in the sale of a house. People such as accountants, lawyers, conveyancers, landlords, managing agents, franchisors and government licensing authorities can all veto the sale of a business. Therefore it is critical you engage a highly professional business broker who can manage all these conflicting interests and recommends you deal with AIBB member business brokers, because as members of the AIBB these brokers are highly regarded and engage in continuing professional development programmes.
These business brokers also have a great network of knowledge from which to draw. AIBB business brokers have the skills, empathy and patience to nurse the transaction thru to a successful settlement. The business valuer network can recommend individual brokers available in your area to help you. Talk to Graham O'Hehir on 1300634588.