The way you sell your business determines how much you net, how long it takes, and how much of it stays confidential. Here’s how the three main paths compare — honestly.
At some point in the process of deciding to sell, almost every business owner asks the same question: do I really need a broker? And right behind that one: what does it actually cost?
These are reasonable questions. The answer depends on what you’re selling, what you need from the process, and how much of your time and exposure you’re willing to risk. There’s no single right answer. But there are real trade-offs, and most sellers don’t fully understand them until they’re already in the middle of one approach wishing they’d chosen another.
Let’s walk through all three options clearly.
Option 1: Working With a Business Broker
A business broker manages the sale process on your behalf — from valuation and positioning through marketing, buyer screening, negotiation, and closing. Think of it as the difference between selling your house yourself and hiring a real estate agent, except the stakes are usually higher and the buyer pool is far smaller.
What a broker actually does
The list is longer than most sellers expect. A broker will prepare a confidential business review (the document that goes to qualified buyers), set a defensible asking price, list the business on broker networks and curated platforms, field inquiries and screen buyers for financial qualification, manage NDAs, run the due diligence process, coordinate with attorneys and lenders, and negotiate deal terms on your behalf.
Critically, they also keep the sale confidential — which matters enormously for small businesses where employees, customers, or competitors finding out early can do real damage.
The costs
Most business brokers work on a success fee — a commission paid only when the deal closes. In Florida, the standard range is 8 to 12 percent of the total transaction value for businesses under $1 million. For deals in the $1 to $5 million range, fees often step down, sometimes structured as a Lehman-scale percentage that decreases at higher thresholds.
Some brokers charge an upfront engagement or valuation fee, typically $500 to $2,500, particularly for more complex businesses. Others work on pure contingency. It’s worth asking directly how a broker structures their fees before signing an engagement agreement.
On a $500,000 sale, a 10% commission means $50,000 to the broker. That sounds like a lot until you consider that the broker’s involvement typically results in a higher sale price, a faster closing, and fewer blown deals than a seller going it alone.
Best suited for:
- Business owners who want professional representation and don’t have time to run the sale themselves
- Sellers who prioritize confidentiality
- Businesses with $250,000 or more in annual revenue where a qualified buyer pool is harder to find
- Owners who want help with valuation, positioning, and negotiating — not just introductions
Option 2: Listing on an Online Marketplace
Platforms like BizBuySell, BusinessBroker.net, and Flippa let sellers list their business directly — with or without a broker — and reach a large pool of buyers actively searching for acquisitions. For the right type of business, this can be an effective tool. For the wrong type, it can be an expensive way to waste six months and compromise your confidentiality.
How it works
You create a listing, write your own business description, set your asking price, and pay a flat listing fee. Buyers browse, submit inquiries, and it’s up to you to respond, screen, negotiate, and close. Most platforms also have options to list with a broker who handles all of the above for a fee.
BizBuySell, which is the dominant platform in this space, charges roughly $60 to $300 per month depending on listing level. Enhanced listings with more visibility run higher. There’s no commission on the sale itself — just the listing fee.
The trade-offs
The upside is cost and control. If you’re comfortable running the process yourself and your business is relatively straightforward — a small e-commerce operation, a home-based service business, or a simple retail shop — a marketplace listing can generate genuine buyer interest at minimal cost.
The downside is everything else. Marketplace listings are public, which means your employees, landlord, suppliers, and competitors can see that you’re selling. Buyer quality is uneven — platforms attract a mix of serious acquirers and tire-kickers, and without screening tools, you’ll spend time on both. Negotiation, due diligence, and closing are entirely on you, or you’re paying attorneys by the hour to handle what a broker would have managed.
There’s also a price perception issue. Businesses listed directly by owners on public platforms tend to attract more aggressive lowball offers than those represented by brokers. Buyers know a solo seller is more likely to be motivated, less experienced at negotiation, and less likely to have other offers in play.
Best suited for:
- Smaller businesses under $200,000 in asking price where broker economics don’t pencil out
- Online businesses, e-commerce, or SaaS where the buyer pool is national and tech-savvy
- Sellers who are comfortable managing the full process and don’t need confidentiality
- A supplemental tool used alongside a broker — many brokers list on these platforms as part of their marketing
Option 3: Selling Directly to a Known Buyer
Sometimes the buyer is already in the picture — a key employee, a competitor, a supplier, a family member, or someone who has approached you unsolicited. Selling direct means negotiating and closing the transaction without a broker in the middle.
When this actually works
Direct sales can work well when both parties have a pre-existing relationship, the business is simple in structure, and both sides have competent legal representation. If a trusted employee wants to buy the business and you’ve already had a handshake conversation, paying a broker 10% to facilitate an introduction that’s already happened doesn’t always make sense.
The risks are real
What most sellers underestimate in a direct transaction is how much the broker’s value has nothing to do with finding the buyer. It’s everything that comes after: structuring the deal to protect the seller, managing due diligence so it doesn’t drag indefinitely, ensuring representations and warranties are appropriate, handling financing coordination, and keeping the deal on track when things get complicated — which they usually do.
Direct deals also tend to be slower. Without a professional managing timelines, milestones slip. A deal that should close in 90 days stretches to nine months. And the longer a deal drags, the more chances there are for it to fall apart.
There’s also a pricing problem. Sellers going direct almost always leave money on the table — either because they haven’t had the business professionally valued, or because they’re negotiating emotionally rather than strategically. A buyer who approaches you directly often does so because they believe they can get a better price than going through a broker. They may be right.
Best suited for:
- Transactions where the buyer is already identified and both parties trust each other
- Internal transfers to family members or long-tenured employees
- Very small businesses where broker fees would represent an outsized percentage of the transaction
- Sellers who are willing to invest in a good M&A attorney to compensate for not having broker representation
Side-by-Side Comparison
| Business Broker | Online Marketplace | Sell Direct | |
| Typical Cost | 8–12% commission | $60–$300/mo listing fee | Attorney fees only |
| Confidentiality | High | Low (public listing) | Depends on relationship |
| Buyer Quality | Pre-screened | Mixed | One known buyer |
| Your Time Required | Low | High | Very High |
| Best For | $250K+ businesses | Under $200K or online | Known buyer in place |
| Negotiation Support | Yes | No | No (unless attorney) |
| Typical Timeline | 6–12 months | 6–18 months | Varies widely |
A Note for Florida Sellers
Florida has one of the most active small business sale markets in the country, driven by population growth, a strong tourism and hospitality economy, and consistent in-migration of buyers from higher-cost states. That’s good news for sellers — but it also means the market is competitive and buyers here are often more sophisticated than sellers expect.
Florida also has specific considerations around business licensing and seller’s disclosure that vary by industry. In certain regulated industries — healthcare-adjacent services, childcare, food service, financial services — license transferability is a deal-critical issue that requires professional guidance before you go to market.
Working with a broker who understands the Tampa Bay and broader Florida market isn’t just about the process. It’s about knowing which buyers are active, what lenders are currently doing on SBA deals in your size range, and how to position your business against comparable listings that buyers are already looking at.
The Bottom Line
If you’re selling a business that generates real cash flow and you want to maximize your net proceeds, protect your confidentiality, and close without losing a year of your life managing the process — a broker earns their fee. The commission isn’t an expense. It’s an investment in getting the deal done right.
If you’re selling a small, simple business and you have a buyer already in mind, direct makes sense — as long as you spend the money on a good attorney that you would have saved on broker fees.
If you’re somewhere in the middle, a marketplace listing can supplement a broker’s efforts. Very few sellers use it effectively on a standalone basis for businesses of any real size.
Michael Shea represents the Tampa 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 450 transactions. His credentials include the IBBA Certified Business Intermediary®, and most recently, the prestigious Certified Exit Planning Advisor® (CEPA) credential.