How to Find a Business Broker and Why Referrals Are Best

When it comes to how to find a business broker you have to ask; how do brokers find clients? 7 times out of 10 it was from a referral. Many business owners and budding entrepreneurs aren’t sure where to look for a broker. The first thing you should do is simply ask a broker to refer you to someone with the time, know-how and determination to bring you the best deal.

Refer business right out the door? Is that crazy talk? Why would a business broker refer business that they could take? Small businesses aren’t closing very often these days. When you are working with an experienced broker that builds their business model around the connection of a specialized, well-qualified, pre-screened broker, screened for both expertise and location but also the available time they have to devote to you and your transaction, you get the best brokers to choose from. You are getting to pick from the cherry picked by experienced and knowledgeable broker’s that are motivated to have you in the best hands, those that will deliver you the best results in price and convenience.

Firms willing to refer you to a broker outside of their firm are hard to come by. The referral firm only gets a fraction of the commission received from the broker you work with and only get paid if your broker closes the transaction. How to find a business broker that offers to refer you to the best broker, not just the broker in their firm that is currently available, is completely free to you but an enormous value since you don’t buy or sell a business very often and want it to go smoothly. It’s also worthy to note that if you are a buyer the representation by your broker is typically free to you since the broker usually gets paid by the seller’s broker with a split of the commission fee paid by the seller.

How to find a business broker is simple, simply ask a broker willing to refer you to the best available broker of all brokers. The most important thing you should have when you are buying or selling a business is a team of great professionals. An attorney, an accountant, possibly a tax adviser and most definitely the best business broker so that you get the best price in the quickest time. Speak to the owner of the firm; ask if they refer deals outside the firm. I think you will find few that will.

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