Can a business broker represent buyer and seller?
Question: The business broker I’ve been using is also representing the seller. Is this a normal situation and am I responsible for all or part of her commission? Answer: This situation does happen quite often but you may need to rephrase your question as the business broker may not be “representing” you at all. Business brokers almost always represent the seller (or the deal if they’re in the capacity of a transactional broker). Their fees are paid by the seller so you must have the broker clarify what their role is specifically in this transaction. If their fiduciary duty is to the seller, they may provide you with some advice/guidance but they will not jeopardize their relationship with the seller. Their mandate is to sell the business for the best price and terms possible, on behalf of the seller. You cannot expect the business broker to be 100% in your corner and while you may not have to be overly concerned that there’s just one broker in the deal, ultimately, YOU need to possess
