Selling your business? Learn this word: Co-broke
We have many clients ask us what is co-broke and how does it work. The simplest answer is that it is when another business broker brings, there existing client, to us inquiring about one of our listings. Or vice versa. If the business is sold the two brokers split the sale fees.
This is an important feature and one that is standard and automatic in the real estate world but not for some business brokerage firms. Some business brokerage companies out of the area (a SW Florida business broker company comes to mind) don't actually co-broke and that only hurts the buyer and seller. Although they may claim they co-broke in reality they do not. Imagine trying to sell your business (or house for that matter) and only having access to a small percentage of potential purchasers? That would harm your sale and the sale price. Reduced exposure to buyers results in a reduced sale price. Why would a large cookie cutter out of town business broker not want to co-broke you ask? It centers around the business broker (read their employee) being greedy for himself and wanting the full sale commission even it it means a reduced amount in your (seller) pocket. At ABBEX you deal directly with an owner and avoid this problem altogether. We have always participated and co-broke from day 1 and always will - it truly results in faster sales and more money for the business owner who is selling.
Abbex fully supports co-broke sales and ensures maximum exposure to ALL potential buyers thereby maximizing your sale price.