Here are five more things to consider when hiring a Business Broker or Sales Agent or third party to represent you in a transaction, whether you are buying or selling a business.

1. Association memberships

Accreditations are good; keeping up with the accreditations is better. To see if a Business Broker or Sales Agent is a member of their industry association, check the International Business Brokers Association (IBBA) at http://www.ibba.org or the California Association of Business Brokers (CABB) at http://www.cabb.org or find an organization or chapter of a brokers association in your state.

Communication

Selling or buying a business requires dealing in financial, legal, industry and other forms of jargon. Are you able to communicate easily and clearly with your Business Broker or Sales Agent and understand what they are talking about?

Network of professionals

Selling a business often brings together different professionals such as Accountants, Attorneys, Property Management Companies, Landlords, Escrow officers, Appraisers, Tax Agents, Lenders, Franchisors and Financial Planners. Does your Business Broker or Sales Agent have professionals he can introduce you to if your business requires that expertise?

Testimonials

What do past customers have to say about the services of the Business Broker or Sales Agent?

Finance

Most sellers do not wish to carry any finance or they wish to carry as little finance as possible. Is your Business Broker or Sales Agent able to introduce you to finance professionals who would finance the deal for a qualified buyer?

What experiences have you had, be it good or bad, with a Business Broker?

What have you learned from those experiences?