Low Cost Brokers – You Get What You Pay For

A woman, we’ll call her “Jane”, contacted us to sell a business. We gave her our proposal to sell her business. She chose to go with a lower cost broker that is a solo operation. Since then, she has called us repeatedly to ask for advice on how to handle the buyer, how to handle financing, how to handle confidentiality, and to ask for help with negotiation. The other broker is obviously not serving her needs and has no idea that Jane is calling us for help with things that he should be able to handle.

We are to the point where we have been as helpful to Jane as we can be. She needs to hire us to go further, and she feels stuck.

Things to Ask Your Broker Before Hiring Them
What services are provided?
Are the majority of the activities done in house or is it a collection of 3rd parties?
Are they providing strong reasons, based on real numbers, for valuation?
Are they able to advertise your deal to a broad market?
Is it one person, or a group of brokers with combined experience?
How many deals have they done…two or two hundred?
How many deals have they done in the past 12 months in this interesting economic climate?

For more information on how Apex does business, please give us a call at (913) 383-2671.