WHAT TO LOOK FOR IN A BUSINESS BROKER

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WHAT TO LOOK FOR IN A BUSINESS BROKER

• BY
• http//benchmarkbusiness.com.au/

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It is no secret that there are hundreds of
brokerage firms and just as many business brokers
nationwide. The key is to know what to look for
before engaging a business broker to represent
you and deliver an outcome that is a win-win for
all. Just as if a buyer would conduct a due
diligence process before purchasing a business,
you should consider conducting a due diligence /
interview with the business broker you intend to
engage.   What questions should I ask then?  17
ESSENTIAL CHECK POINTS TO MAKE BEFORE YOU ENGAGE
A BUSINESS BROKER.  Here is the list that was in
that blog
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• THE ESSENTIAL TIPS  before engaging a business
  broker
• Check if the business broker is licensed in your
  state
• Ask to view their personal license.
• Cross check the license number with the office of
  fair trading in your state.
• Where is the brokerage companies head office
  based?
• Is the company an accredited Real Estate Agency?
• How long has this brokerage company been in
  business?
• What type of licenses does the company hold and
  which states?
• Ask for the principals details and ask to speak
  or meet with them.
• Ask if you can come to their head office to be
  shown around on how they operate.
• Is the broker a specialist? If so, what area do
  they specialise in and how long have they been
  doing that?
• What have they sold that is similar to your
  business?
• Ask them to explain their methodology to you (or
  preferably your accountant) on how they came up
  with the price.
• What level of service is to be expected from the
  broker?
• How often can I expect communication?
• Will you be the same broker throughout the entire
  sales process?
• Can you run through the entire process from start
  to finish?
• I would like to discuss my options to list my
  business with my solicitor first, do you mind if
  I do this?

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You can view the full blog by clicking on this
link http//benchmarkbusiness.com.au/17-essentia
l-check-points-to-make-before-you-engage-a-busines
s-broker/   If you adopt these 17 essential tips
before engaging a business broker, then you can
rest assured the small investment of time (your
due diligence) is going to give you comfort and
piece of mind as you move forward through the
sales process.   Ian Salter Senior Business
Broker   Businesses for sale quick
links Businesses for sale Gold
Coast  Businesses for sale Brisbane  Businesses
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