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This is a question that comes up time and time again and most people think they know the answer. However, I think the obvious answer is only just scratching the surface of a larger issue. If we take a step back, why did you employ an agent to help you sell your business anyway? Among the most common answers are: to make it easier, because I don’t have time and last, but not least, to negotiate me a better deal.

So why choose a local Business Broker?

If you were to look at this from the perspective of selling your home, you wouldn’t appoint an interstate agent to handle the sale for you, would you? So why would you trust your business, one of your greatest assets, to an interstate broker to sell?

Firstly, you can meet a local agent face to face, and you can work out if they are the right fit to sell your business. They know other businesses in the area as well as other businesses that are for sale. They have a greater understanding of the South Australian market because they are immersed in it daily. However, there is more.

One of the most common reasons a buyer does not move forward with a business purchase, even if they seem keen, is because they don’t understand the documents they have been given or they don’t know what questions to ask to get the answers they need. If a purchaser simply doesn't feel comfortable or confident in what they are looking at they put the business into the too hard basket and move on. Unfortunately, this is very common when a buyer first starts looking or when the sales documents have not been prepared well.

When you are working with a local agent, not only do you have someone who can be there to attend meetings with you in person, they are also able to attend inspections with buyers, instead of just setting up a meeting and letting you deal with the buyer on your own. It also gives the buyer someone to talk with in person. Often buyers will meet with us before or after inspecting a business to ask extra questions about the process and how it all works, what they should do next, or if we can recommend other local professionals that they might be able to talk with. Some buyers don't know what questions to ask and an experienced agent can guide them through this, which helps to build confidence and trust with a buyer.

Interstate agents are good at taking marketing money but when it comes down to it ,very often that is all they do; they aren’t able to prepare contracts as interstate all contracts must be prepared by solicitors, so they send sale documents to solicitors for preparation. We are able to prepare contracts and legal documents on your behalf which costs less than having them prepared by solicitors and takes much less time.  We are also up to date on South Australian legislation.

The outcome of all of this is a local broker has local knowledge, they have spent time with you and not only understand what you as the vendor want to achieve, but also what the buyer wants and needs, ultimately resulting in a better sale, smoother transaction and overall more positive outcome for all.