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Who Should You Use to Sell Your Business?
04
Apr 2018

Who Should You Use to Sell Your Business?

By The CBA Group

Michael Norman


While there are many choices that might answer this question, the two most prominent answers are either a Realtor or a Business Broker.


I would like to point out a couple of the major differences to help you make a solid decision.


First, a realtor sells physical property, like a building potentially on a piece of property. A Business Broker sells a living entity, because a business is a moving and changing organism. It has inventory, accounts receivable, employees, cash flow and sales. These things constantly change and if you want to sell your business you should consider working with someone who understands what these are, how they change and how they can benefit you.


A realtor typically works with an appraiser and a mortgage broker. Once the appraiser states the value of the property/building, the value doesn’t change, except very slowly over a long period of time. The Business Broker will estimate the market value of the business, market the business “confidentially” and prepare projections of where the business is going. They will also keep this value updated along with any changes in the business value. The Business Broker will bring bankers to the table to assist in the sale and they will help the buyer work out conditions that are favorable to you, the seller.


Realtors will want to keep the buyer and seller apart and many times only work with one of these parties to the detriment of the other. Business Brokers work to build relations with the buyer and seller and to build trust. After all, the buyer will be taking over the business that you have worked hard to develop over the years and carry on your legacy while making it grow into something more.


Realtors advertise the property/building on public forums put a sign on the property “For Sale”. Business Brokers market businesses to keep the potential sale out of the public eye and away from your competitors and employees and focus on the prospective buyers while confining the sale to serious buyers on a “Confidential” basis.


Lastly, we know many realtors, we work with many realtors and we have many who are our friends and we respect them. However, we have found the successful ones are concerned about what they do best and let the Business Brokers help by doing what we do best.


There are many other aspects to selling a business and if you have questions regarding a business for sale or buying a business, please feel free to contact me for a confidential conversation.


Michael Norman
The CBA Group


Michael Norman signature

Michael is Managing Director of The CBA Group. He has over sixteen years of business brokerage experience with a combined total of 45 years of business experience. In addition to handling several multi-million-dollar deals, his experience also comes from owning several businesses himself and serving in an executive management capacity of several organizations, including two public companies.


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