A Good Broker is Essential

Who Does the Broker Work For?
A business broker works for the client who engages them. If you are selling a business, the broker will act for you on the sale of that business and is responsible to you, their client. The broker still has a responsibility to the buyer of the business in providing, under law, a duty of care but in essence is working for the seller.

" It is important to discuss and clarify what the broker is to do ..."

Even if the buyer befriends the broker and develops a relationship, the broker still is responsible mainly to the client (the seller), and therefore must act with all diligence in obtaining benefit for the client. However, a broker can also be engaged by a potential buyer, so in that case will be acting for the buyer in respect to assessing and finding potential businesses for the buyer to purchase.

When the buyer finds a business ...

Membership required (FREE)

The rest of this article is freely available to StartRunGrow members.
Not a member? Join Here - Its FREE!