3 Essential Qualities to Consider when Selecting a Business Broker Near You

Posted on 20 Jan 2023

3 essential qualities to consider when selecting a business broker near you

We are all aware of the power of the right assistance. The same applies when attempting to buy or sell a business in Australia. Finding the "right" business broker near you would enable you to maximise profits and obtain the best offers. However, how do you choose the best business broker in Australia?

There are literally thousands of business brokers and intermediaries in Australia who can assist business owners in buying or selling their businesses. But selecting the best brokers based on your company's size, industry, location, etc., and then narrowing the list based on costs, fees, contractual terms, etc., can be time-consuming.

If you are having trouble selecting the best business brokers near you, continue reading. In this article, we will go over the three key characteristics you should consider when hiring a business broker.

#1 Do you they work with a business like yours

One of the most crucial and first things to look for is - if the business broker works with businesses like yours. The shortlisted business broker may have stellar reviews and be a licenced broker, but can they really help you? Do they understand the nature of your business?

You must ensure that the business broker you have chosen has a wealth of experience in your sector. And, you can discover this by checking their client list and asking questions about the industry.

#2 Accreditations

The best business brokers have the right certifications and accreditations. Additionally, the accreditation proves the business broker has the training and experience necessary to act as a trustworthy broker when helping you buy or sell a business.

In Australia, you need a real estate licence to work as a business broker. However, the legal requirements for business broker licences vary by state. Find out if the local business broker near you has made the effort to become certified.

#3 Reputation

Even if a business broker possesses all the necessary credentials and years of experience, one of the best ways to determine whether they are competent in their line of work is to look at their reputation. You'll need to conduct some online research for this.

Look at customer reviews on Google and their testimonials, as well as search their socials and website, to see their company profiles, ethos and individual brokers. This will ensure you choose a broker and company that align best with your own business values and will be the best fit to represent your business.

Looking for the best business broker near me? We can help.

Most brokers will be happy to travel, so you are not restricted to choosing a broker within your town or suburb. Absolute Business Brokers can represent any business, Australia-wide and proudly represent many regional or rural businesses as well as interstate, with successful sales history.