Business brokers Orange County have the professional qualifications, connections and the resources you need to sell a business fast and profitably. The downside, however, is that not all brokers will give you the level of support that you need. Some of them are real estate agents who work part time as business brokers. Knowing how to hire the right person for the job is as important as setting the right selling price. Here are the key things you need to look for when deciding on the broker to work with.
No contract no deal
Just because a business broker Orange County has been in business for many years does not mean you go ahead and take his word for it. This is the worst mistake you can ever make. If there is no written contract and something goes wrong, it will be his word against yours. Needless to say, you will be on the receiving end. Prior to hiring a broker, you need to go through his terms of services and make sure that everything you agree on is put in writing. The written contract must also include the fees that you will be required to pay and the payable commission.
Being in business for years doesn’t mean the broker is good in his work. There are so many professionals who have been in business for years but render questionable services. In whatever you do, you need to check the qualifications of the broker you are about to hire. You need to check his education qualifications, his licenses and also if he belongs to a recognized body of brokers. It is also good to check if he has sold businesses that are similar to yours in the last year.
Take it slow
When selling a business, rushing in is a terrible mistake you can make. You have to weigh your options keenly. The case is the same when deciding on the broker to work with. You need to interview at least 3 different business brokers Orange County before making your choice. Don’t forget to ask for references and call the references.
Working with a qualified business broker Orange County will save you a great deal of time and money. You just need to make sure that you hire the most qualified person for the job. It is good to also remember that the size of your business will also influence the broker you end up hiring. For example, you cannot expect a broker who only sells businesses worth a few hundred dollars to be effective selling your multimillion dollar company.