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Business Broker

Business Facilitator / Business Intermediary. Business Transaction Advisor / Business Brokerage

What is a business broker?

A business broker is a person or firm who/which acts as an intermediary between sellers and buyers of small businesses. Other common names for a business broker are Business Intermediary, Business Facilitator and Business Transaction Advisor. In the event you're planning to buy a business, sell a business or transfer a business, a business broker can help.

Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held small business in the buying and selling process. Some of the services provided by a business broker include estimating the value of the business, advertising it for sale with or without disclosing its identity, conducting the initial potential buyer interviews, facilitating discussions and negotiations with prospective buyers, facilitate the progress of the due diligence investigation and providing overall assistance with the business sale or transfer.

How do business brokers get paid?

There are three methods by which business brokers receive compensation: hourly, retainer and success fee (commission upon a closing). A business broker may use any one or combination of these when providing services. The most common form of compensation is a success fee commission where the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the business for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

Does the ICBC provide business brokerage services?

The ICBC is a professional organization of multi-disciplined professionals. Members of the ICBC draw from one another's talent to provide support services to their clients. The ICBC itself does not provide Business Brokerage services, but its members do. The ICBC does provide business broker training opportunities for its members.

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