Agent is not a term of art in business sales, and the people who answer to it are doing three different jobs at three different prices. Knowing which you are hiring is more useful than the title, because the fee follows the work rather than the name.
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The listing agent
A main street business broker who lists the business, screens enquiries and negotiates. Paid a commission at closing, usually with a minimum fee, under an exclusive agreement for a fixed period. Right for a business whose buyer is an individual within driving distance, which is most restaurants, shops, clinics and contractors.
The process runner
An M&A adviser who builds a buyer list, prepares an information document and holds several buyers to one timetable. Paid a retainer plus a declining success fee. Right when enough credible buyers exist to compete, because competition is what moves the price and it does not happen by itself.
The introducer
Someone who knows a buyer and expects a finder's fee. Cheap and fast when the introduction is real. The risks are that transaction based compensation for introducing a share sale can raise regulatory questions, and that an introducer who is not negotiating for you is not protecting you. Put any arrangement in writing before the introduction, not after.
Questions people ask about agent to sell my business
Can a real estate agent sell my business?
Where the sale is mostly a property or a lease, sometimes. For a business sold on its earnings, an agent with no experience of add backs, warranties and diligence is the wrong instrument.
What does an agent charge?
A commission at closing with a minimum fee, or a retainer plus a success fee for a run process. Published US commissions on this site run from 5% to 15% across the firms that print anything.
Do I need one at all?
No. If you already know your likely buyer, a lawyer and an accountant do the parts that matter for a fraction of a commission.