Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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You'll always have an excuse for not putting your business on the market. With hard work and dedication, your mortgage brokers business can be sold at or above fair market value right now.
Laying the Groundwork
Effective mortgage brokers business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium mortgage brokers business opportunity.
Family Business Sale Tips
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your mortgage brokers business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Broker vs. No Broker
When selling a mortgage brokers business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your mortgage brokers business sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your mortgage brokers business on BizBuySell.com and other popular online business-for-sale listing sites.
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