They can expertly value your business, identify potential buyers or sellers, and guide you through the complex legal and financial maze. Market Reach and Access: Forget shouting into the void – brokers have extensive networks, connecting you with qualified buyers and sellers you might never have found on your own.

The first step in negotiating is understanding a business broker's standard fee structure. Most brokers charge a commission based on a percentage of the sale price, typically between 10 and 20 percent. Some brokers may be willing to lower their commission if they feel that they will have difficulty finding a buyer.

Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held businesses in the buying and selling process.

Business brokers can work as independent consultants or as part of a brokerage firm. Business brokers can carry out a range of key responsibilities, including: Preparing company records and analyzing tax data.