What to look for when interviewing business brokers?
Confidentiality : All business brokers should protect the confidentiality and integrity on all businesses for sale. All business brokers should protect confidentiality through the use on Non-Disclosure agreements that prevent the businesses for sale buyer from disclosing ANY information about the business to anyone. If said confidentiality is broken then the business brokers will go after the buyer in court for damages – usually set at 10% of the listing price or minimum $10,000. Buyer Qualification : All good business brokers should qualify buyers based on experience, financial means and a basic credit history – though most – if not all – BSN business brokers DO NOT require credit reports or financial statements as part of the qualification process. Instead, BSN business brokers interview all businesses for sale buyers through an interview set-up similar to an employment interview. Buyer Financing : Can the business brokers you are talking to arrange financing for the buyers. If so, a
