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Five Key Factors to Consider Before Hiring a Business Broker

Whether you have decided to buy or sell a business, having a broker is a good idea. If you have a broker on your side, then you can make the difference between a successful outcome and a nightmare. However, all business brokers wouldn’t be suitable for your specific situations. Use the following tips to choose the right broker to get the best deal.

You may need to broad your network to find a pool of qualified business brokers that specialize in brokering deals such as yours. Once you have several potential brokers, it’s time to narrow the field down the list by analyzing following factors:

  1. Individual or firm?

Your broker is face for your business. So, choose broker who is dynamic, smart, and capable enough to handle the client in an effective manner. If you are not able to find a good individual broker, then it is better to hire a firm.


  1. Experience of the Broker

Check the broker has a prior experience in handling the business dealing or not. If yes, then find out he/she is suitable for your situations.


  1. Broker’s Qualification

Check the personal information of broker like education, certification, licensing, experience, and membership in professional associations. With this you can put yourself in the comfort zone.


  1. Preparedness of the Broker

Did the business broker do his or her research prior to your initial meeting? Brokers use comparable sales, business and industry reports, and other tools to price businesses. Your business broker should be able to support any suggested listing prices, which should be presented in writing, with documentation.


  1. Check references

No matter how professional, personable, experienced, qualified, and prepared potential broker appear, cover your bases by checking references. Ideally, the broker should give you references from businesses with similarities to yours.

If you are looking for one of such firm/broker who promises to deliver you as per requirements, then hire ValleyBiggs.com for your needs.

Published on: November 11th, 2016