By Michael Shea, Transworld Business Advisors of Tampa
Selling your business is a big deal. You’ve built something valuable—maybe even from scratch—and now it’s time to make your exit count. But before you sign with any business broker, ask yourself one critical question:
Do you know who you’re hiring?
Not all business brokers are equal. Some bring experience, strategy, and serious buyer networks. Others… just bring a listing. At Transworld Tampa, we’ve seen too many owners waste time (and money) on brokers who weren’t a fit from day one.
That’s why I always recommend sitting down and interviewing at least two or three brokers before making a decision. Here’s a breakdown of the questions you must ask—based on real-world deals and what actually matters.
1. “Do you regularly work with businesses like mine?”
Ask what percentage of their listings and sales are in your size range and industry. Selling a $5M manufacturing company is a very different game from selling a $200K coffee shop.
✅ Look for: brokers who know your sector and deal size.
🚫 Avoid: generalists with no track record in your type of business.
2. “What parts of the sale do you handle—and what do you expect me to do?”
Selling a business is complicated. From valuations and packaging to buyer vetting and negotiations, the best brokers manage most of it. Others might hand you a list and say, “You’re on your own for this part.”
✅ Look for: a full-service broker ready to handle the heavy lifting.
🚫 Avoid: brokers who push key responsibilities back onto you without a reason.
3. “How will you market my business?”
This is where many brokers drop the ball. Ask them how they’ll present your business, what platforms they’ll use, and how much they’ll spend monthly on advertising.
✅ Look for: brokers with strong visibility—online and off. Think BizBuySell, IBBA, Transworld’s national buyer pool.
🚫 Avoid: brokers who “list it and forget it.”
4. “Do you cooperate with other brokers to find buyers?”
Some brokers guard their listings too tightly. Others understand the value of cooperation. At Transworld, we’ve closed deals faster by working with partner brokers across the U.S.
✅ Look for: brokers who play well with others.
🚫 Avoid: lone wolves who limit your exposure.
5. “What’s your buyer screening process?”
Not every buyer inquiry is serious. You don’t want to waste hours on tire-kickers or lowballers. A good broker will have a system to vet prospects before they ever talk to you.
✅ Look for: a defined process for financial qualification, NDAs, and interviews.
🚫 Avoid: brokers who toss every inquiry your way.
6. “How long is your listing agreement, and is it exclusive?”
Most brokers ask for a six-month exclusive listing. That’s normal. But be cautious if they want a year or longer without results.
✅ Look for: six-month commitments with clear performance milestones.
🚫 Avoid: open-ended or vague contracts.
7. “What are your fees—and when are they due?”
You want transparency. How much is the commission? Are there up-front costs? What happens if your business doesn’t sell?
✅ Look for: clear answers. At Transworld, we earn when you close.
🚫 Avoid: brokers who dance around their fee structure.
8. “Are you insured? Are you certified?”
This is about professionalism. Liability insurance and credentials like CBI (Certified Business Intermediary) signal a broker who takes their work seriously.
✅ Look for: brokers with E&O insurance and strong affiliations (IBBA, CBI, etc.).
🚫 Avoid: anyone who dodges this question.
Bottom Line
Interviewing a business broker isn’t about being difficult—it’s about protecting what you’ve built. Ask tough questions. Take notes. And remember: the right broker should feel like a partner, not just a middleman.
At Transworld Tampa, we believe in clarity, action, and results. If you’re considering a sale and want to talk with someone who’s handled hundreds of deals across Florida, I’m here.
Let’s have that conversation—on your terms, not ours.
Michael Shea represents the Central Florida Transworld office. In business since 2005, he has established a reputation as a trusted business broker across Florida’s key markets- from Tampa to Orlando, Melbourne, and more. Over the past two decades, Michael and his team have closed over $1 Billion in sold business volume and presided over more than 400 transactions. His credentials include the IBBA Certified Business Intermediary®, and most recently, the prestigious Certified Exit Planning Advisor® (CEPA) credential.