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Why Use a Professional Business Broker?
So, why list your business for sale with WA Brokers when I could list with a Real Estate Brokerage for a smaller commission. Business Brokers charge 10% to 15% commissions/success fees, with a national averageof 12%, and they have minimum commissions of $10,000 to $25,000. Real Estate companies charge 5% to 10% commissions.
ANSWER:
In the State of Washington, anyone who holds a Real Estate License can legally sell businesses. However, the State Department of Licensing discourages Real Estate Brokers who do not specialize in business brokerage from attempting to engage in selling businesses. The Washington Real Estate Manual, on pages 171-172 states that: "The opportunity to list or sell a business will often tempt a licensed broker or salesperson to plunge into activities that exceed his training and competence. The result can be a disservice to the seller and risk of misrepresentation to a buyer. Business opportunities brokerage requires skills not ordinarily acquired in residential brokerage."
WA Brokers Offers the Business Seller Unequaled
Expertise, Exposure, and Confidentiality.
WA Brokers agents are trained professionals. You don't always buy the cheapest car, or hire the cheapest attorney, or look for the cheapest doctor. Real estate brokers are trained professionals too, but their training doesn't include the skills needed to sell businesses. Because real estate agents are not trained in valuing businesses, they are more likely to list your business for an unrealistically high price, giving you false expectations, and eventually making the business “shopworn” and unsalable. When the residential market slows down, any inexperienced real estate brokers will be tempted to list a business in the hope that someone else with the experience will sell it.
You wouldn't go to a dentist for surgery, you'd go to a doctor. Any competent dentist would refer you to a doctor for a medical condition. Many of our listings were originally referred to us by real estate brokers.
The key to selling your business quickly, and for the best possible price, is exposing the business to as many qualified buyers as possible. You may evaluate our traffic relative to our competitors anytime at www.alexa.com to see the difference noting the smaller the number means a higher traffic rank such as Google being ranked #1. A Safeway attracts more customers than a 7/11 store because Safeway has more products to offer. In the greater Seattle area, WA Brokers generally has businesses listings for sale than most if not all our competitors. As a result, most serious, qualified businesses buyers will call WA Brokers at one point or another. We get hundreds of leads each month from prospective business buyers, and we have the staffing to personally interview and quality those prospects before disclosing the name or location of your business. A real estate office may give out the name and address of your business over the phone, and tell the prospect to drive by. For 5-8% commission, that's all they can afford to do. You do get what you pay for. A real estate office may have one agent who is qualified to sell businesses. A smaller business brokerage may have one to five agents. With WA Brokers, we have more than 10 trained, professional agents, with all the resources of the WA Brokers network working to sell your business. If the other brokers were good enough to work at WA Brokers and earn 10-15% commissions, why would they choose to make less? Brokers can only charge for results and what they're good enough to earn.
A real estate office may tell you that they can give your business maximum exposure by using their multiple listing service, which allows brokers to share listings between themselves and potential prospects. Your business will then be listed in a way that many unqualified buyers may have access to your confidential information. That eliminates confidentiality. And most of the people who look through the multiple listing services are looking for real estate, not businesses. At WA Brokers, we will not disclose the name or location of your business to any prospect until they have sign a confidentiality agreement. Furthermore, we meet with these buyers personally to help prove they’re qualified. We invite these buyers to our office, interview them, review their financial qualifications, and have them sign a Non-disclosure agreement and a strict Confidentiality Agreement.
The decision to sell your business is one of the most important decisions you will make in your life. Our business is selling businesses. That's all we do, and we do it better than anyone. And that is how WA Brokers got to be leaders in business sales.. Have more questions?
Call WA Brokers at 425-771-5590
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