1 Not advertising your business correctly;
2 The Perils of Listing with a "Commission Free" agent;
3 Listing with the broker who has the cheapest commission;
4 Listing your business with more than one agent;
5 Not Preparing your Business for Sale Correctly;
6 Falling for the broker who tells you the highest price;
7 Look for the Accreditation.
WHAT TO CONSIDER WHEN
SELLING YOUR BUSINESS
In order to sell the business it must be advertised. Before you select
Do they simply put your business on 3 or 4 sites and hope for the
best or are they more aggressive with placement and work hard to
business will appear.
Any reputable broker should be able to do this. I see time and time
again vendors have paid agents thousands of dollars thinking they
results. Selling your business for the highest possible price is about
advertising can do this.
Not advertising your business correctly
Appearing more and more on the business broking scene are
would rather make a small amount upfront from the listing of your
have listed which are commission based.
vendor to continue to run their business AND put the effort into
is being sold in the marketplace and may severely undersell your
guidance from a reputable hands on broker and it could sit idle for
months. I would advise to stay away from No Commission agents.
The Perils of Listing with a "Commission Free"
The old adage "you get what you pay for" comes to mind. It's
Many agents will offer the cheapest commission only to have your
business added to the hundreds of listings they have in what they
who has less listings but more sales.
They take the business and work hard to get a result. A cheap
agent cannot deliver these outcomes if he is discounting his own
Listing with the broker who has the cheapest
Listing your business with more than one agent
The reality is that business's listed with more than one agent take
The effect is "what's so wrong with this business and why are they
agreements and you should consider this if you are looking to sell.
from the agent.
He knows that others are working on the business and he might
not get paid so he will take his buyers elsewhere or not negotiate
only a certain numbers of buyers in the marketplace so stick with
one broker at a time. Listing with more than one agent is a big
Not Preparing your Business for Sale Correctly
Marketing a business for sale which is not properly prepared is
and make all those minor repairs and facelifts. We see the
on a property can be. Business are essentially the same. Have all
will need this information in a timely manner.
"Australian Business Sales"
Information Memorandum is prepared for every
business. These documents are the only way to present your
business to the market. There is too much competition to sell your
answers all the questions that a buyer could have. If
your business broker is not presenting your business this way then
how is it