Richard Parker Discusses Using a Business Broker versus For Sale by Owner when Buying and Selling a Business
When a buyer is not prepared and a seller is not prepared, it’s like two blind guys hunting; chances are they’re going to shoot each other
(EMAILWIRE.COM, April 27, 2008 ) Detroit, MI—Selling a business is more difficult than selling a home. When owners attempt to sell their own business, without the advice of a broker, to a buyer who isn’t accompanied by a consultant of his own, this could be a disaster for both.
Lance Hood of Success Insiders recently interviewed Richard Parker, a business owner and consultant. Richard spoke about buying a business which was listed as being for sale by owner. Owners who sell without a broker have a know-it-all attitude and they’re not properly prepared to negotiate the sale of a business. A well educated buyer can get a great price from an unprepared seller.
Lance then asked Richard about using brokers or outside consultants. Richard explained the advantages and disadvantages of using brokers. He started by explaining that brokers do not work for the buyer; they work for the seller or the “deal.” They are not a trusted advisor. People are more familiar with real estate brokers and agents than with business brokers. Business brokers are very different; they rarely cooperate with each other or co-broker, like real estate agents. Brokers can help in locating businesses and act as a buffer between the parties, but they do not work in anyone’s best interest, except their own.
Richard also talked about how to recognize a good broker; one who will be effective to work with. When one is looking to buy a business, they need a lot of information. If the broker doesn’t take the time to put a good report together for a perspective buyer, he probably isn’t going to be very effective. The broker should be able to explain the business well; he should know it as well as the business owner. When a broker doesn’t take the time to learn about the business, he is constantly calling the owner, who is still busy running his business. It is important the owner continue to focus on the business until it sells, otherwise, the business goes down and becomes less desirable to buyers.
Richard Parker is a business owner, author and consultant. He is a featured expert on http://www.successinsiders.com/ a website for members to log into and ask the experts questions, attend teleseminars, listen to interviews with millionaires and much more.
SuccessInsiders.com is dedicated and committed to helping people succeed in their personal and business life by providing access to millionaires and experts in wealth creation and personal development through interviews and other resources. With this type of resource, proper application and dedication, the chance of being successful is increased. SuccessInsiders.com will provide the ultimate in training and discovery by providing a team of experts from which people can learn skills in prioritizing and glean information via teleconferences and monthly interviews. SuccessInsiders.com will do whatever it takes to assist anyone on achieving their goal. People from all over the world can benefit from these strategies. This is such a great opportunity for people to expand their horizons by way of modeling someone by reading their books, watching their teaching DVD’s, listening to interviews and much more.
“Today is Your Opportunity to Rise Up and Live the Life You Choose!” says Lance Hood. Pick up a free CD, “The Secrets of a Self Made Multi-Millionaire” http://www.successinsiders.com/home.html
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Research, Investment, Buying Business, Business Brokers, Chambers of Commerce, Making Money, Building Wealth, Business Skills
