Important Questions to Ask Before Hiring a Business Broker

A business broker San Diego should make the sale of a business easy. The problem is that not all brokers out there will give you that. Most of them are out to make money at the expense of naïve clients. If you plan on selling your business through a broker, here are the top questions you need to ask to ensure the broker has what it takes to take on your case.

What are your qualifications?
You want to work with a qualified business broker who has not only the papers but also the experience. A good business broker should be heavily qualified. Business brokers San Diego must also have been in the business working full time for several years. An added advantage is having a real estate license. This will come in handy when selling your business together with the buildings.

How many brokers are in your office?
It is always better to work with a real estate company that has several in-house brokers. This is because you will be guarantee of more personalized support with a team that tackles every aspect of the sale. An individual broker will not have the resources needed to handle business valuation, market, qualify buyers while at the same time handle negotiations. This is why you need a brokerage firm that has a sizeable in-house team. The team will help with accounting, marketing, valuation and everything needed to smooth the sale of your business. Working with an agency helps you get personalized services in the sale of a business.

How many businesses do you have listed?
When choosing a business broker, it is good to note that if he has no listed businesses, he is probably not a good broker. You might want to avoid him. On the other hand, if he has too many listed businesses, he might end up not giving your business the attention it needs. A good broker should have no more than 20 listed businesses.

How many qualified buyers do you have in your database?
This is yet another important question you need to ask a broker before hiring. Most business brokers San Diego have several qualified buyers in their database. When they start working for you, they will show your business to their existing buyers and if any of the buyer is interested you will be able to sell faster.

These questions will keep you from hiring the wrong person for the job. Never be in a hurry to hire a broker. Take time to compare services offered by different brokerage firms before making your final decision.

Business broker San Diego

What Client’s Say

We Couldn’t Be Happier

"When we thought about selling we had no idea what our business was worth or how to go about selling. What you were able to do was to cut through the fog so that we understood the valuation issue and had a comfort level with the process. As you know we ended up selling for somewhat more than the original valuation and we got all cash and our CPA loved the way our tax liability was minimized. We couldn’t be happier!"

Over $250,000 More

"Our first contact with you shocked us when you suggested that we wait 18 months before selling because you believed that if we hit our projections that the value would be significantly greater. As it turned out we not only followed your advice but also got slightly over $250,000 more than we originally had hoped for. It is seldom that we have had the opportunity to deal with a firm that doesn’t want both money and a commitment NOW. It was clear and obvious that you had our best interests at heart."

You Got the Valuation We Agreed On

"You did a great job on the sale of our business in really beating the bushes for buyers, including a UK company that was an active suitor. You managed to get the valuation that we had all agreed upon and got it substantially all in cash and got the transaction closed with little to no problems or expensive lawyers involved."

Thank You for Handling Our Business

"Our business was smaller than what your firm normally handles but it was a BIG part of our net worth and savings. Thank you for handling our business and we were very pleased and delighted with the results."

More Than Anticipated

"Our transaction was involved as we had different corporate entities located in different states. Our only regret is that we didn’t retain your services before 2012 when we paid $25,000 to a firm in Texas that did a valuation and market analysis for us before then failing to do anything in the way of trying to sell our business. You got it sold for more than anticipated."

The Sales Process