First, good business brokers are there with you from beginning to end. All reputable business brokers work from the moment there is buyer interest down to the offer then into the due diligence and into closing. HERE IS A HINT: Ask the business brokers when the process begins and where it ends - and have them define each step. If the business brokers do not cover the following then we recommend looking for other business brokers...

The general business broker involvement.

1. Determination Of A Market Value For Listing
2. The listing
3. Buyer Marketing
4. Qualify Buyers
5. Get Qualified Buyers Under Confidentiality
6. Full Disclosure To Qualified Buyers
7. The Business Tour With The Qualified Buyer The Business Broker And You
8. The Business Financial Review To The Qualified Buyer
9. Due Diligence - Getting Updated Info For Qualified Buyer
10. The Offer
11. Offer Negotiations
12. Accepted Offer
13. Due Diligence Making Sure All Contingencies Are Met
14. Due Diligence Making Sure Financing Is In Place and Other Like Lease or Real Estate
15. The Closing And Dispersal Of Funds

FYI: Not only are Step #'s 13-14 above vital - it is also where many lazy business brokers falter and create the cancellation of the deal. If the business brokers you are talking to do not cover #'s 13-14 then find other business brokers.

Questions to ask prospective business brokers

1. How do the business brokers protect confidentiality and can they demonstrate it?
2. How do the business brokers qualify buyers and can they demonstrate it?
3. What types and how many lending sources do the business brokers have in place?
4. Are the business brokers fully trained, certified and supported by a reputable source?
5. Can the business brokers prove #4 last above?
6. How diversified are the business brokers as far as networking affiliations to find qualified buyers for the businesses for sale.
7. How many listing do the business brokers and their agents take. If it is more than 10-12 listings per broker or agent then how could they possibly give your business for sale the time and resources it needs to sell.

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