7 Reasons Why You Should Use a Broker to Sell Your Business

In the first quarter of 2025, 2,368 businesses transitioned to new owners – a 2% increase from the previous quarter and a 9% jump compared to the first quarter of 2024. The message is clear: more and more business owners are preparing for what's next.

This isn’t surprising when you consider that baby boomers own 51% of private businesses in the U.S. As retirement approaches, many are starting to think seriously about how, and when, to step away from the companies they’ve built.

If you're in a similar position and you’re not sure why to use a broker to sell a business, here’s the short answer: unless you already have a qualified buyer lined up, partnering with a broker is one of the smartest moves you can make.

In this article, we’ll explain how brokers help sell businesses and walk you through seven key reasons why using a business broker is in your best interest – especially if you’re nearing retirement.

How Brokers Help Sell Businesses

Selling a business is nothing like selling a car or a home. It’s significantly more complex, which could help explain why only 20 to 30% of businesses that are listed for sale end up selling.

Your business is a dynamic operation. There are employees, customers, contracts, systems, and, most likely, you at the center of it all. Buyers want to know the business can keep running and making money without you. That means full transparency, providing accurate financials, and having a well-documented transition plan in place.

There’s also the matter of confidentiality. If news of a potential business sale gets out too early, it can shake employee morale or clients may leave you for a competitor.

Business brokers help make all of that easier. They know how to market your business confidentially. They can connect you with serious, qualified buyers, and negotiate deals that protect your interests.

Most importantly, a business broker will guide you through every step of the sale, from business valuation and listing to due diligence and closing, so you can stay focused on running your business or preparing for retirement.

Why Use a Broker to Sell a Business?

Working with a broker to sell your business can greatly improve the experience of selling your business as well as the outcome. Let’s take a look at the reasons why.

1. Business Brokers Have Business Valuation and Pricing Strategy

Determining a fair and accurate sale price for your business is critical, and one of the most important and challenging steps of the sale process. Many owners are so emotionally attached in their business that they end up pricing it too high and driving away potential buyers. Others undervalue their business and price it too low lowering their returns in the sales process.

Business brokers provide professional valuation expertise. They have the right tools and comparable sales data to assess the true worth of your business in current market conditions. By helping you set a realistic asking price, they ensure you only attract serious buyers without leaving any money on the table.

If you're counting on the sale to support your retirement, getting the best possible price and terms matters. After years of hard work, it only makes sense to turn your business into a strong financial foundation for the future.

2. Access to the Right Buyers and a Screening Process That Works

Brokers are in the business of selling businesses.

As such, they maintain extensive networks of pre-screened business buyers, investors, and industry contacts. They know how to promote your business in the right channels while keeping it under wraps from the general public. This boosts visibility and can even spark competition among buyers – both of which can lead to a better deal.

Just as important, brokers thoroughly screen buyers. They verify financial capacity, intent, and reliability so you're not wasting time with anyone who can’t actually close. When a reputable broker is involved, only serious buyers make it to the table.

3. Professional Deal Negotiation and Structuring

Negotiations can be tough when you’re so deeply invested in your business. With the back and forth of offers and counteroffers you could end up making a rash decision. Not with a professional business broker.

They know how to structure win-win deals that satisfy both parties. More importantly, they act as a buffer between you and the buyer, protecting your best interests while maintaining momentum.

If you're planning to retire soon, this kind of support can mean the difference between a rushed exit and a smooth transition.

4. Total Confidentiality Throughout the Entire Sale

Confidentiality is one of the biggest reasons why you should use a broker to sell a business rather than trying to go it alone. Many owners who take on selling their businesses themselves risk accidentally exposing sensitive information or their intent to sell.

Business brokers provide an added layer of confidentiality. They require potential buyers to sign non-disclosure agreements (NDAs) and carefully vet them before revealing key company information. This helps preserve trust and stability inside your business while the sale is underway.

5. They’ll Guide You Through The Entire Process and Paperwork

From documentation to deadlines, there’s plenty of paperwork involved in selling a business. Any mistakes throughout the process can negatively affect the sale, but brokers know exactly what’s required.

They can help prepare essential paperwork like:

Non-disclosure agreements
Purchase and sales agreements
Closing documents and tax filings
Lease transfers and licensing paperwork

They’ll also coordinate with attorneys, accountants, and escrow agents to make sure everything is legally sound and well organized.

Their experience in handling business sales will keep things moving forward on schedule. They can help you navigate regulatory requirements, and you can trust the process is in good hands.

6. Better Odds of Closing the Sale

As we’ve mentioned, the majority of small business sales never actually close. Deals fall apart for any number of reasons, but working with a broker improves the odds of your sale closing.

Brokers are skilled at identifying common issues before they come up and keeping the deal on track until everything is finalized.

If problems do arise, the broker can often mediate a compromise to save the deal. And because their compensation often depends on a successful sale, they’re highly motivated to see it through to the finish line. This means you’re much more likely to sell your business and get the payout you’re counting on for retirement.

7. Less Stress, More Time for What Matters

This could easily be one of the biggest benefits of using a business broker. It’s a culmination of everything on our list. A business broker’s experience and ability to keep the sale on track ultimately saves you a lot of time and headaches.

With everything involved, selling a business is a full-time job. If you’re still handling the day-to-day operations of your business, you probably don’t have time to handle marketing, buyer screening, negotiations, and paperwork.

When you use a business broker, you can focus on maintaining normal operations so that your business stays healthy and on track as you get ready to sell it.

Get Ready For Your Business Exit With Chatterton & Associates

Ultimately, business broker advantages come down to their experience.

They know how to sell a business successfully by finding the right buyers and structuring deals, and they know which mistakes to avoid while selling a business. Whether you’re preparing for retirement or getting ready to start a new venture, a good business broker can help you sell your business successfully, with less stress and more confidence.

If you’re considering selling your business with a broker and need assistance planning for retirement, we can help. Schedule a complimentary retirement planning consultation and let’s discuss setting you up for success in the next chapter of your life.

Sincerely,

The Team at Chatterton & Associates