Most Australian businesses that sell, sell through a broker — and most owners have never engaged one before. This guide covers what a broker actually does, how to choose well, and what the process looks like from the inside. It pairs with our guide to what brokers charge.
What a broker does, stage by stage
A good broker appraises the business and recommends a price range; prepares the information memorandum; markets the business confidentially; qualifies buyers and has them sign NDAs before anything sensitive is shared; runs inspections and manages negotiations; and coordinates the deal through due diligence to settlement. In short: they run the campaign so you can keep running the business — because a business that dips while it’s on the market is a business that sells for less.
When a broker makes sense — and when not
A broker earns their fee when you need reach (you don’t know the buyer), confidentiality (staff and customers mustn’t find out), or negotiating distance (emotion is expensive at the table). You may not need one when the buyer is already known — family, a business partner, or an employee — or for very small, simple sales a lawyer and accountant can paper directly.
How to choose the right broker
Interview two or three. Ask: How many businesses like mine — industry and size — have you sold in the past two years? What did they list and sell for? How will you market confidentially, and where do your buyers come from? Who exactly will handle my sale? What’s the full fee structure, in writing? Then check AIBB membership and speak to two past clients. Beware anyone who wins the listing with a flattering appraisal they can’t evidence — overpricing costs you months and momentum.
The engagement: what you’re signing
Broker agreements are usually exclusive for a set term (commonly six to twelve months). Look closely at: the commission and any minimum fee; upfront or marketing fees, and whether they’re deductible from commission; what happens if a buyer you introduced completes after the term ends (tail provisions); and how you can exit the agreement if it isn’t working. Our broker fees guide covers the numbers in detail.
The process, start to settlement
Expect: appraisal and engagement (weeks one to four); preparation of the memorandum and campaign (a month); confidential marketing and buyer qualification (two to four months); offers, negotiation and heads of agreement; then due diligence and contracts through to settlement (two to three months). Six to twelve months end to end is normal — faster when your books and documents are ready on day one.
How to be a good client
The sales that get premium results share a pattern: the owner keeps trading hard so the numbers stay strong; documents are supplied fast when buyers ask; pricing follows evidence, not attachment; and the broker is told everything — a surprise a buyer finds is far more expensive than one your broker plans for. When you’re ready, compare vetted business brokers in the directory.
Common questions
For most owners, yes — a broker brings buyers you can't reach, protects confidentiality, and keeps negotiations at arm's length. The exceptions are sales to a known buyer (family, partner, employee) and very small, simple sales.
Commonly a commission of 8–12% of the sale price, often lower on larger deals, sometimes with upfront or marketing fees. Always get the full structure in writing — see our broker fees guide for detail.
Typically six to twelve months from engagement to settlement: a month or so of preparation, two to four months of confidential marketing, then negotiation, due diligence and settlement.
This guide is general information only and does not take account of your personal circumstances. It is not financial, tax or legal advice. Speak to a qualified adviser before acting.