If you're considering selling your business, a business brokerage firm can assist you in pricing and selling your business.  Business brokers are often referred to as business transfer agents or intermediaries.  These individuals or firms assist both individuals interested in purchasing businesses as well as business sellers.  These companies provide numerous services that both buyers and sellers can take advantage.

Business brokerage firms assist in the following areas of business sales:
• Estimating the value of the business
• Advertise the business for sale
• Handling the initial interviews of interested parties
• Negotiations with buyers
• Facilitate in the due diligence process of business sales
• General assistance to the seller throughout the sale of the business

In the event that a business brokerage firm successfully locates a buyer for the business and completes the business sale, the business brokerage firm then receives a commission for their services. Contracts differ from business brokerage firm to business brokerage firm, but a typical contract requires a successful business sale and exchange of funds between buyer and seller. The typical commission in the US ranges from the 10-12 percent range. The commission is negotiable between the seller and brokerage firm. This commission typically covers the cost of advertising and other expenses that occurred during the business sale process.

Licensing of business brokerage firms in the US is regulated by the states. Some states may require a business brokerage license while others do not. The following states require a business brokerage license:
• Arkansas
• Colorado
• California
• Florida
• Idaho
• Georgia
• Illinois
• Michigan
• Minnesota
• Nebraska
• Nevada
• Oregon
• South Dakota
• Utah
• Wisconsin
• Wyoming

In all states, the business brokerage firm is required to be licensed as a real estate agent if real estate interests are involved.