Business broker Los Angeles is the first expert you should hire once you make up your mind to sell your business. The broker has more experience in the field and will not be emotionally involved. As a result, he will not only market your business objectively but also help you manage your expectations. Even so, you should not just hire the first broker that comes your way. There are a few questions you need to ask to make sure you are hiring the right person for the job.
What are your qualifications?
This is the number one question you should ask. The last thing you want is to work with someone that is incompetent to sell your business. When evaluating the qualifications of the business broker Los Angeles, start by making sure that he is a Certified Business Intermediary and that he is a member of the International Business Brokers Association. Next, you need to make sure that he has been in the business for several years, that he works full-time as a broker and that he has a real estate license. These are qualifications that will make your experience better once you hire the broker.
Do you have a web presence?
Business brokers Los Angeles who lack a web presence will not be able to market your business properly to the right buyers. You should only stick with brokers who have great web traffic with lots of traffic, a network of offices and a team holding their back. Check to see how many businesses the broker has listed on his website as well as the number of businesses he has helped sell in the last few years. Make sure that you get information on how the broker uses his website.
What is your track record?
Being certified and having years of experience is not enough. You need to make sure that the Los Angeles business broker has a good track record. To find out more about the success levels and the type of deal you are about to get into, ask the broker the following questions:
- How many businesses that are similar to mine have you sold in the last year?
- For how long were the businesses you sold listed before they were sold?
- How many of the listings on the site did you represent?
How do you charge for the service?
Nobody wants surprises when selling a business. This is why you should know upfront how much the broker will charge you for the services he will render. Know if there will be an upfront fee and how much the commission will be. Do not be afraid to negotiate a better commission. You must also read and understand all the terms in the service contract before you sign it.
A lot goes into the sale of a business. One of the most important steps is that of hiring the right business broker Los Angeles. Never take shortcuts. You must always ensure that you completely understand what you are getting yourself into before you commit.