SELLING A BUSINESS - What is a Business Broker?

In much the same light as attorneys and accountants, business brokers (or intermediaries) are professional service providers who supplement a company’s skill set in a specific area of expertise in order to achieve an objective. Brokers' particular areas of expertise include:

Valuing a business
Evaluating alternatives (selling the business might not always be the right choice)
Positioning a business for sale
Preparing the necessary marketing materials
Evaluating and preparing a buyer profile and list of potential buyers
Negotiating the transaction
Closing the transaction

Research shows that owners who used an experienced intermediary were more likely to sell their business, more likely to receive a higher price, less likely to waste time, and more likely to avoid pitfalls than owners who represented themselves.