Even if you sell FSBO, brokers will be in your orbit, calling, listing alongside you, representing buyers. How you engage matters.
Picking a broker (if you go that route).
- Specialization: someone who's closed at least 5–10 service-business or route deals in the last 24 months. Generalist business brokers may not understand recurring-revenue valuation.
- References: ask for the contact info of 3 sellers who closed in the last 12 months. Call them.
- Fee structure: most are 8–10% with a minimum (often $15k–$25k). Negotiate the minimum, not the percentage; the minimum hits small deals hard.
- Exclusive vs. open listing: exclusive (one broker for 6–12 months) gets you their full effort. Open dilutes everyone's incentive.
- Marketing plan in writing: specific channels, timeline, expected number of qualified buyer touches per month.
Avoiding broker pitfalls.
- Listed and forgotten: confirm a 30-day check-in cadence in writing
- Pressure to take the first offer: brokers are paid on close, not on best-fit. Push back when needed.
- Lead lock-in: some brokers claim a lead they brought even if you sourced separately. Define this clearly in the listing agreement.
If you go FSBO. Brokers representing buyers will still contact you. Most expect a 2–3% buyer-side fee paid by the seller; some buyers cover it themselves. Decide your policy before the first call: "We're not paying buyer-broker fees; if your client wants to pursue this, we'll work directly."
Dual-agency caution. Brokers who try to represent both sides of the deal have an inherent conflict. Strongly prefer single representation per side.