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Architecture Guide
Cost vs. Value Report
Good Neighbor Awards
Handouts for Customers
Top 100 Companies
Take a Quiz
30 under 30
Young Professionals
REALTOR® Emeritus |  | WORKING WITH A BUSINESS BROKER | | ||
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|  Are You Ready to Retire? Retirement Budgeting Sources of Retirement Income Tax-Deferred Savings Vehicles Estate Planning Selling Your Business Getting Your Business Ready for Sale Working With a Business Broker Closing-Your-Business Sale More Resources: Retirement Planning | An outside consultant's formal appraisal can expedite negotiations between buyer and seller and help both sides reach their goals," says Tom Wright, a commercial business broker at Century 21 T.L. Wright Realty in Cobleskill, N.Y. "The most valuable service a business broker performs is establishing value." 5 Things to Look for in a Business Broker 1. Experience in selling real estate brokerage businesses 2. Assistance in preparing your financial records to facilitate the sale 3. Confidentiality 4. References from other business owners, preferably owners you know personally 5. Fees—either a commission or a flat fee—that are competitive TIP: For help in locating a business broker, consult the International Business Brokers Association, The Business Brokers Network, or theCouncil of Real Estate Brokerage Managers' online referral directory. Build Your Business-Sale Team Tom Wright of Century 21 T.L. Wright Realty in Cobleskill, N.Y., suggests assembling a team of professionals to help with the marketing and sales process. Your team should include
TIP: If you feel that you need help in pricing your company and getting it in order for sale, but not in locating buyers and negotiating the deal, consider hiring an acquisitions consultant instead of a business broker. —Albert J. Mayer, CRB, president of Fred Sands Inc., Malibu, Calif. TIP: Using business advisors to help you sell your business will give you time to continue running and keeping your business profitable while looking for a buyer. TIP: Use an attorney who specializes in mergers and acquisitions; otherwise you pay for your regular attorney to learn about the topic. After all, when you buy or sell a home, you want an attorney who specializes in real estate. —Beatrice Mitchell, Sperry Mitchell & Co., New York City Closing Your Business Sale > |