Are Business Brokers licensed ?
In Nova Scotia, the sale of a business is regulated under the Real Estate Trading Act. Anyone brokering a business should be licensed accordingly. The business brokerage industry also has an industry association and all brokers are encouraged to become members. This association, the International Business Brokers Association, provides a rigorous certification program leading to the designation Certified business Intermediary. How Can I Sell My company For The Most Money? This can be achieved by presenting your business in its best light and creating competition among buyers. Can I Do This Myself? Yes you can but why would you? It takes specialized skills and experience to do the job right and to keep the sale confidential. Experience shows that it can take up to 400 hours of professional time to sell a privately owned company. The experience of a professional Business Broker can be invaluable in identifying a buyer, negotiating a deal, and keeping the transaction alive through to closi
There is probably no other question that causes as much controversy as this one! There is no one fast answer of ‘yes’ or ‘no’. The answer depends upon which state or country the business or Business Broker is in. Some laws apply only if the Business Broker actually sets foot in the state to sell the franchise or business. Some laws fall under Federal Consumer Protection laws; Fair Housing Laws; anti-discrimination laws; handicapped laws; American Disabilities Act and Agency laws both local and Federal to name a few. Let me explain my opinions below and you may draw your own conclusions. Most people ask “Is a Business Broker required to have a real estate license?” It depends on what the Business Broker is selling and which state you are asking about. There are at least 20 states (and DC) that require a ‘real estate’ license to sell a business, business opportunity or franchise. Of the other states, if you are selling only assets of the business including personal property, fixtures and
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- Are Business Brokers licensed ?
