Business brokers perform many duties including:
- Pricing the business with a professional valuation.
- Marketing the business to the widest possible audience while maintaining strict confidentiality. This is one of the important distinguishing differences between business brokers and real estate agents. Real estate agents put a sign in front of their properties and typically without the need for confidentiality, advertise widely the specific location. Business brokers are trained to maintain strict confidentiality.
- Introducing prospective buyers to the business after ensuring confidentiality agreements have been executed.
- Facilitating meetings between the seller and potential buyers.
- Handling negotiations between the parties after an offer has been made.
- Assisting the buyer in obtaining business acquisition financing.
- Scheduling and facilitating the closing of the transaction.