If you’ve ever thought about selling your business, you’ve probably wondered whether you actually need a broker.
It’s a fair question.
After all, you’ve built a successful company, you negotiate deals all the time, you understand your numbers, and you probably know your industry better than anyone.
So why not just handle the sale yourself and save the commission?
I’ve heard that question many times. And I’ll be honest, for a small number of owners, selling directly can work out fine. But for most, it’s a lot harder than it looks. Not because you can’t do it, but because of what’s involved behind the scenes.
Let’s walk through what really happens in a business sale, the parts most owners never see until they’re already halfway in. My goal here isn’t to convince you one way or the other, but to help you make an informed decision with your eyes wide open.
The appeal of doing it yourself
I get it completely.
When you hear “10% commission,” your first thought is, “That’s a lot of money.”
It’s natural to wonder if you could handle it yourself. After all, you know your business inside and out. You already have relationships with competitors, suppliers, and customers. You might even know a few people who’ve mentioned interest in buying one day.
On paper, it sounds simple enough: find a buyer, agree on a price, sign a deal, and move on.
But selling a business is rarely that simple.
It’s not just about finding a buyer, it’s about finding the right buyer, negotiating the right deal, and protecting your interests from start to finish.
That’s where the difference really shows.
What a broker actually does (that most people never see)
If all a broker did was post your business online and wait for buyers, I’d tell you to skip it. But that’s not what good brokers do.
A good broker is part financial analyst, part marketer, part negotiator, part therapist, and part bodyguard.
Here’s what that means in practice:
1. Preparing your business for the market
Before anything goes live, a broker helps organize your financials, identify strengths and risks, and position your company in the best possible light. The goal isn’t to “dress it up,” but to present it clearly and confidently.
2. Protecting confidentiality
This one is huge. Most owners underestimate how risky it is to market their business publicly. A broker creates a confidential profile that hides your identity, screens buyers, and makes sure information only goes to qualified prospects.
3. Attracting serious buyers
Reputable brokers have access to buyer networks, databases, and referral channels you simply can’t reach on your own. They know how to spot who’s serious and who’s just curious.
4. Managing negotiations
Negotiations are emotional, especially when you’re selling something you built. A broker adds objectivity. They can push for your best interests without taking things personally or derailing the deal.
5. Coordinating due diligence
Once an offer is made, the paperwork begins - financial reviews, legal documents, leases, inventory counts, lender requests. A broker keeps all those moving parts on track, so you can stay focused on running your business.
6. Keeping deals alive
This might be the most underrated part. Deals don’t fall apart because people change their minds, they fall apart because the process becomes stressful or communication breaks down. A broker’s job is to keep everyone calm, focused, and moving toward the finish line.
That’s a lot of hats for one person to wear, and it’s the reason most owners eventually decide they’d rather have help.
What happens when you try to sell alone
Some owners go the DIY route, and a few succeed. But for many, the experience ends up being more complicated and draining than expected.
Here’s what I often hear afterward:
“I didn’t realize how much time it would take.”
“I thought I had a great buyer, but they couldn’t get financing.”
“I got close to closing, but the buyer tried to change the deal at the last minute.”
“It got emotional, and I think I said too much.”
It’s not that owners aren’t capable, it’s that the process is designed to be handled by someone who does it full-time.
While you’re managing buyer calls, collecting documents, and answering endless questions, your business still needs to perform. And if performance dips while you’re distracted, it can actually lower your value at the worst possible time.
I’ve seen good businesses struggle through sales because the owner was trying to juggle everything alone.
The emotion factor
No one likes to admit it, but selling a business is emotional.
This company is your baby, and buyers are strangers poking at it with spreadsheets. They’ll question decisions you’ve made, challenge numbers, and negotiate aggressively. That’s their job.
But it’s hard not to take it personally.
I’ve seen owners walk away from great deals because a buyer’s tone rubbed them the wrong way. I’ve seen deals get delayed because one side felt offended.
A broker keeps emotion out of the equation. You get to play the role of calm, collected owner while your advisor handles the tough conversations.
That buffer alone often pays for the commission.
Why most owners actually net more with a broker
Here’s the irony: many sellers who try to “save” the commission end up netting less in the end.
A good broker doesn’t just bring in buyers, they bring in competition.
When more than one qualified buyer is interested, leverage shifts to you. Prices go up. Terms get better. And your closing timeline gets shorter.
A broker knows how to position your business so it feels attractive and de-risked. That’s what buyers pay for.
I’ve seen situations where an owner’s original asking price went up by hundreds of thousands once the right buyers got involved.
So yes, there’s a fee, but in many cases, that fee pays for itself in the form of a higher sale price, smoother process, and fewer mistakes.
When it might make sense to sell on your own
To be fair, there are times when selling without a broker can work.
If your business is very small, has minimal complexity, and you already have a trusted buyer (say, an employee or family member), a direct sale might be perfectly reasonable.
But if your business is larger, has multiple employees, or serves a wide customer base, professional representation usually makes a measurable difference.
Even in smaller sales, it’s worth consulting a broker for valuation help and guidance on deal structure, just to make sure you’re protected.
A story that says it all
A few years ago, I met an owner who had been trying to sell his company on his own for over a year. He’d had several “interested” buyers, but none followed through. He was exhausted.
We cleaned up the presentation, clarified the numbers, marketed confidentially to a wider audience, and had two serious buyers within six weeks.
Three months later, he closed the sale, at 20% more than his original asking price.
When I congratulated him, he smiled and said, “I should have called you a year ago. I thought I was saving money. I was really just losing time.”
That’s the truth most owners discover after the fact: time is a cost too.
The bottom line
You only sell your business once. You don’t get a do-over.
Whether you decide to work with a broker or not, make sure you go into the process informed, realistic, and prepared.
If you choose to sell on your own, know what to expect, it’s a full-time project, and the stakes are high.
If you choose to work with a broker, pick someone you trust. Someone who understands your business, respects your goals, and treats your sale like the once-in-a-lifetime moment it is.
A good broker doesn’t just sell your business, they protect it, your time, and your peace of mind.
If you’re considering your options
If you’re on the fence about whether to work with a broker, I’d be happy to talk it through with you, confidentially, and without any obligation.
Sometimes the best first step isn’t committing to anything. It’s just getting clarity about what your sale might look like, what your business could be worth, and what options you have.
You don’t have to decide today, but understanding your choices now can save you months (and money) later.
When you’re ready to explore, I’m here.