Business brokers Los Angles have the responsibility of making sure that business owners sell fast and at the best possible price. The downside, however, is that there are those brokers who are just out to make a profit at the expense of their naïve clients. To avoid being a victim of such brokers, you need to know the questions that brokers hope you will never ask. Below are some of these questions and the appropriate answer.
Why did you contact me?
Once your business has been listed, you will start getting calls from business brokers Los Angles. Many times a broker will indicate that he has a buyer for your business. This is not the answer you should accept. A good broker should say he has a buyer for a business like yours. That is how you know he is genuinely interested in helping you sell. The reason this is the best response is because brokers have buyers in different categories such as retail operations, restaurants, service companies and so on. If a broker says he has a buyer for your business, he should be able to explain how and what he knows about you.
How many buyers are you working with?
This is yet another important question you should ask a business broker LA. You need to know what type of clients he has. If he focuses on businesses that are worth millions, he will not be reliable for you if your business is valued at less than a million dollars. Get a broker that is within your realm. Doing so means he will have the right investors in his contacts.
How long have you been a business broker?
The last thing you want to do is to entrust your business with a novice. The business brokerage industry is volatile. Not every person who works as a broker works full time. Some just jump on opportunities. The best broker is the one who works full time as a broker and one that has been in the industry for years. This is not enough. You need also to take a look at the number of businesses that he has sold in the last year.
Do you have a realtor’s license?
This is a very important question you need to ask if you want to sell your business together with the property it sits on. You don’t want to incur huge expenses by hiring various professionals. If you can find a broker who has a real estate license, that will save you a great deal of money since you will not have to work with a realtor at the end of it all.
These are just some of the questions that you should ask a business broker Los Angles. If you have any question, never hold back. You need to get answers to all your questions before you make the big decision of hiring a broker.