Important Questions to Ask Before Hiring a Business Broker

business broker San DiegoA 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 certified by the CBI (Certified Business Intermediary), and be a member of an International Business Brokers Association. 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.

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