For those of you who have never heard of a business broker, you are not alone. Business brokers are agents that work on behalf of buyers and sellers to help them realize their goals of owning their own business or selling, possibly, the biggest part of their portfolio. Selling or buying a business can be the largest transaction of your life.

A business broker can help a seller to determine the value of commerce, whether or not a sale makes sense, and recommend proper terms for selling the business. The business broker can handle the various aspects of a transaction including developing a marketing plan, locating and screening potential buyers, negotiating the price and the structure of the sale, and assisting buyers in obtaining proper financing.

A business broker can help a buyer to determine exactly what type of business they are looking for, based on the buyer's goals, financial situation and past experience. The business broker can then match and evaluate businesses that meet the buyer's criteria. A business broker can handle all aspects of the transaction, including negotiating the price and the terms of the acquisition and assistance in securing financing.

Finally, a broker maintains a large network of contacts in the business community that provide information about confidential situations that are not available through public channels. This allows a buyer or seller to learn about potential opportunities that may not be available to the public.

Why use a business broker?

In most situations the business you own is your largest asset. Therefore, you want to obtain the best possible advisor for the sale or purchase of your largest asset.

A business broker adds remarkable value to the sale or purchase of a business. The process of buying or selling a business can be time consuming and stressful. A business broker has the experience to navigate the buyer and/or seller through the entire transaction. Another important value a business broker adds is how to properly value businesses and structure the deal to ensure that the seller gets the best deal possible.

For sellers, using a business broker will result in more buyer activity by advertising on various web sites, direct mail campaigns, and newspaper advertisements and previous buyer contacts. This creates a more competitive environment in the bidding process. A business broker will know how to identify the right buyer - the one who truly understands the value of your business. For both buyers and sellers, using a business broker will mean having an experienced and knowledgeable representative assisting you in the transaction. You will leave the closing table feeling confident that you got the best price and the best terms possible.