Choosing among brokers to sell your business is a decision made almost entirely on evidence you have to ask for, because almost nothing that matters is published. This page is the shortlist method: what to ask, what to verify independently, and which clauses in the agreement decide what the arrangement really costs.
Get quotes to sell my business
Build the shortlist from closed deals
Ask each firm for businesses like yours that they closed in the last two years, by trade and by rough size, and ask to speak to two of those sellers. Firms that sell what you sell have the buyers who buy what you sell. Marketing spend, office frontage and how many listings they carry tell you nothing about whether they can close yours.
Verify what you can independently
Look at their current listings and count how many are in your trade and how long they have been up. Check whether the state requires a real estate license for sales involving a lease or property and whether they hold one. Trade body membership is a signal about training rather than quality, and is worth exactly that much.
The clauses that decide the cost
The commission rate and the minimum fee. The length of the exclusive period. The tail, and whether it covers all buyers or only introduced ones. Any marketing charge payable regardless of outcome. A seller who negotiates the tail and the minimum has usually saved more than one arguing about a point of commission.
The question that reveals most
Ask what price they think it will fetch and why, then ask what they would do if you insisted on twenty percent more. A broker who says they would list it anyway is telling you they will take the mandate and let the market educate you, at your expense in time.
Questions people ask about brokers to sell your business
How many brokers should I interview?
Three is the usual answer and it holds here. Give each the same numbers, ask the same questions, and compare the written proposals rather than the meetings.
Should I pick the one who quotes the highest price?
No. Overpricing a listing is the cheapest way to win a mandate and the most expensive way to sell. Ask for the reasoning and the comparable sales behind any number.
What if I want to leave mid listing?
Read the termination and tail clauses before you sign. Many agreements allow termination on notice while keeping the tail alive for introduced buyers, which is reasonable; a tail covering every buyer is not.