Business brokers, also called
business transfer agents, or
intermediaries, assist buyers and sellers of privately held small business
in the buying and selling process. They typically estimate the value of
the business; advertise it for sale with or without disclosing its
identity; handle the initial potential buyer interviews, discussions,
and negotiations with prospective buyers; facilitate the progress of the
due diligence investigation and generally assist with the business sale.
Agency relationships in business ownership transactions involve the
representation by a business broker (on behalf of a brokerage company)
of the selling principal, whether that person is a buyer or a seller.
The principal broker (and his/her agents) then become the agent/s of the
principal, who is the broker's client. The other party in the
transaction, who does not have an agency relationship with the broker,
is the broker's customer.
Source: Wikipedia
