Tag: Boston MA

What’s The Difference Between A Good Business Brokerage and A Bad One?

Well, this question is difficult to answer, but I've thought about it a little bit and found that the main factors that separate a good broker from a bad one are:-

1. Ethics- Most of the terrible stories I hear are the result of a realtor's lack of ethics. It is sad and embarrassing in my opinion. Unfortunately, there is no easy way to check a broker's ethics. You can now easily hire professionals to buy business for sale in MA via https://awbusinessbrokers.com/sell-a-business/.

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My best recommendation is to make sure you have reached your definition of the IBBA CBI. All CBIs agree to comply with the IBBA Standards of Professional Conduct and Code of Conduct.

2. Honesty- Again, it can be difficult to judge with an untrained eye. But what is your stomach saying? Are you getting vague answers to your questions? Or are the business brokers you interviewed willing to sit down with you and answer your questions as often as possible, sometimes over and over again? If so, it's usually because they have nothing to hide. As a result, you don't have to give up on your questions.

3. Pricing Opportunities- Being open, honest and ethical are only part of the game. It is equally important that business brokers are trained in corporate valuation matters. One of the most important factors in selling a business is getting it right. Companies that misjudge will never sell (if the value is too high) or be thrown out of the market. 

Both situations are bad news for you as a business person. If it is too expensive, it will sit on the market, stigmatized and difficult to sell even with other brokers. If this is underestimated, don't maximize your retirement benefits.