Business broker

From ArticleWorld

The Business broker (also referred to as a business transfer agent) is an individual or company that enables other businesses to get sold. The activity also includes Internet businesses and web sites given the boom they had in the past years. The Business broker’s job is normally to assess a business, advertise it on specialty channels related to it and eventually handle the initial discussions with the possible buyers. In most cases, he/she also needs to advice the client on the course of action to take. Payment for them is done through a fee or by a fixed amount of money, no matter if the sell or not.

Several methods are being used for attracting buyers and customers. In some cases the listing of details on a web site is a used technique that works but buying advertising space or directly targeting prospective buyers are also methods used. In most US states the business broker needs to have a license but it is not necessary in others. Every state has different rules regarding licensing. Problems usually appear with transactions that are taken between people located in different states, which need to abide to different rules. The International Business Brokers Association (IBBA) is the current leading association of business brokers.