Should You Work with a Business Broker?

Is a Business Broker the Right Fit for Your Exit?

Selling a business isn’t like selling a house. It’s more complex, more personal, and often more emotional. And yet, many business owners don’t seek specialized help when it’s time to sell. One of the most debated questions in exit planning is: Should I work with a business broker or go it alone?

This decision can shape your outcome—financially and emotionally—for years to come.

Why This Question Matters Now

Baby Boomers own roughly 40%+ of U.S. small businesses, and many are preparing to exit in the next 5–10 years. That means more sellers, more competition, and more pressure to get it right the first time.

In today’s market, buyers are more selective and due diligence is more sophisticated. A weak exit strategy—or an underqualified broker—can mean leaving money on the table or losing a deal altogether.

That’s why the question of whether or not to engage a broker isn’t just tactical. It’s strategic.

What I’ve Seen as an Exit Advisor

Not all business brokers are created equal. Some are highly skilled negotiators with deep buyer networks and a strong grasp of valuation. Others… are more like listing agents.

In my work helping owners value their business, prepare for sale, and grow transferable value, I’ve seen three types of situations:

• Brokers who added massive value, driving up the sale price and attracting well-qualified buyers

• Brokers who added cost but no clarity, pushing generic listings and rushing sellers

• Owners who sold without a broker—successfully—because they had strong advisors, great books, and a pre-identified buyer

The right broker can reduce stress, increase your net proceeds, and keep the process moving. But the wrong broker—or no broker at all—can sabotage even the best-laid exit plans.

My Perspective: Be Selective, Not Skeptical

I don’t believe every business owner needs a broker. But every owner needs an exit team.

That might include:

• A valuation expert

• A tax strategist

• A financial planner

• A legal advisor

• And sometimes, a business broker

Here’s my take:

• If your business has revenues over $2M, or your buyer will be a stranger, you should strongly consider a broker.

• If your business is small, highly local, or likely to be sold to a known party, a broker may not add much value.

• If you’re not financially or emotionally ready to sell, no broker in the world will fix that.

Brokers are best when you need deal flow, guidance, and confidentiality. They’re not a replacement for strategy.

Where This is Headed: Specialization Will Win

As the exit planning industry matures, I predict a shift:

• Generic brokers will lose market share to specialists who understand specific industries or exit goals

• Advisory firms like mine will take a more central role, helping owners build value before a sale and vet brokers carefully

• Owners will demand more transparency around how brokers are paid, what their buyer network looks like, and how they add value

The future favors business owners who treat selling like the major financial event it is—not just a transaction, but a transition.

Takeaway for Business Owners

If you're asking whether you need a business broker, take a step back and ask instead, "What kind of help do I need to exit on my terms?" Then build the right team—whether that includes a broker or not.

For more help planning your exit timeline, maximizing value, and deciding who belongs on your exit team, visit our Exit Planning page.