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Buying or Selling

How To Choose A Tempe Business Broker

By Phil Reese · · Updated

How To Choose A Tempe Business Broker

Choosing the right Tempe Business Broker to sell your business is one of the most important decisions you will ever make. If you choose right, you will most likely end up selling your business and for the most money possible. If you choose wrong, you may not sell your business or may leave money on the table. Below is a list of questions you should ask when interviewing an Arizona Broker:

How To Choose A Tempe Business Broker

How To Choose A Tempe Business Broker

Your best bet when selling your business is to work with an experienced Arizona business broker to ensure great results.
Tempe, Arizona

1. How much experience do you have?

You don’t want to leave the sale of one of your biggest assets in the hands of a novice. It takes years of experiencing to learn how to properly facilitate the sale of a business. Only choose an experienced Broker.

2. Are you a member of the AZ Business Brokers Association (AZBBA)?

The AZBBA is the local trade organization for the Business Broker Industry. Members agree to abide by certain ethical standards. By choosing an AZBBA member to sell your business, you will be dealing with an ethical Broker.

3. Are you a member of the International Business Brokers Association (IBBA)?

The IBBA is the largest Business Broker trade group in the world. Members of this group receive advanced education and great global networking opportunities.

4. Are you a Master Certified Business Intermediary (MCBI)?

The IBBA awards the Master Certified Business Intermediary (MCBI) designation to Business Brokers who successfully complete educational classes and tests to prove they are competent to facilitate the sale of businesses. You’re taking a chance hiring a Phoenix business broker to sell your business who doesn’t take their career serious enough to spend the time and money to make sure they are as up to date and educated as possible in the process of selling businesses.

5. Do you co-broke with other agents?

Many local Business Brokers do not co-broke. This is a disservice to their clients. By not co-brokering with other agents, they severely limit the pool of buyers they can sell your business to.

6. Are you a full-time agent?

Being a successful Arizona Business Broker takes a lot of time and hard work. I have never met a successful part-time Broker.

7. Do you only sell businesses or do you sell residential real estate also?

It is in your best interest to hire an agent that specializes in selling Tempe businesses. Selling a business takes a different skill set than selling a house. If you would like to speak with a Arizona Business Broker who meets all of these criteria, contact Phil Reese at 480-707-7721 or [email protected]

Related Reading

  • Why Pricing Your Business Too High Can Backfire

    Question one is about experience, but here is a question the list does not ask: did the broker agree to your price too easily? This explains why some brokers do exactly that to win the listing, what it costs the seller in time, and why the broker and the price are two separate decisions.

  • What Is My Arizona Business Worth?

    Question four asks whether the broker holds the Master Certified Business Intermediary designation. This shows what that training looks like in practice: a valuation done line by line from your actual financials, built on Seller's Discretionary Earnings, with every add-back checked before it counts.

  • How Do I Find a Buyer For My Business?

    Question five, whether a broker co-brokes, matters because of what is on this list. Eight ways I market a listing, including pitching it to the other agents in my office and to AZBBA members at our meetings, which a broker who refuses to co-broke cannot offer you.

  • “I Don't Need A Business Broker To Help Me Sell My Tempe Business."

    Before choosing a broker, some owners decide they do not need one at all. This is the story of an Arizona owner who sold on his own, carried a note for half the price without checking the buyer's finances, and never collected the balance when the payments stopped.

  • Selling a Phoenix Area Business is Tough

    What you are hiring a broker to absorb. The negotiations, the insulting offers, the well-meaning advice from friends that is usually wrong, the buyer research and screening, and the paperwork a seller would otherwise handle alone while still trying to run the business.

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