Business brokers Orange County play an essential role in the sale of businesses. They will not only help with the listing but also help with business valuation, negotiations, preparing for succession and so much more. The problem, however, is that not every broker out there is worth working with. There are a couple of things you will have to consider before you bring any business broker on board.
When it comes to the qualification of a business broker Orange County, you have to look at much more than his professional experience. The first thing you have to make sure of is that he is certified. He should be a Certified Business Intermediary. Second, the best broker will be a member of the International Business Brokers Association. You will then need to consider the number of years he has served as an Orange County business broker, make sure he works full time as a business broker and check if he has a real estate license. A real estate license is essential if you plan on selling your business along with the real estate it sits on.
Now that you have confirmed that the broker is qualified, the next thing you have to look at is his web presence. Long gone are the days when newspaper ads were sufficient. Today, for a business broker Orange County to be good in what he does, he has to have a good web presence. Take a look at the amount of traffic his site generates, how many brokers use his website, the number of businesses listed on his website and the number of qualified buyers he has in his database.
Just because a broker is qualified and has a web presence does not mean he is the ultimate fit for your business needs. You have to check if he has sold any businesses in the recent past. If he has never sold any business that is similar to yours, chances are he will end up struggling with yours. Take a look at how many businesses he has sold in the past year and how long it takes, on average, for him to sell a listed business. In addition to that, you need to take a look at the number of listings that the business broker Orange County represent. This will help you know if he is a major player in the industry or not.
An important question you should never forget to ask is that on how much the Orange County business broker charges for his services. The commission of a broker can be as low as 5% or as high as 15% or more. You need to understand that the commission will bite into your profits. Pick the broker who charges a fair commission.
These are the most important considerations you need to make before hiring a business broker. Other important things you should consider include how the broker prices a business and whether he has ever been sued.