Should I use a business broker or sell my business myself?
The honest answer depends on three things: who the buyer is, how much your business is worth, and how much of your own time you can spare. Here is how to think about it.
When DIY makes sense
- You already have a buyer: a family member, a key employee, a competitor who has approached you, or a long-time partner.
- The business is worth under $250K and a 10 percent commission is not economically feasible.
- You can dedicate 10 to 20 hours a week for 6 to 12 months to managing the sale.
- You are comfortable with the financial, legal, and negotiation work, or you have advisors who are.
- Confidentiality matters less because the buyer is already a known party.
When a broker is the right call
- The business is worth $250K or more in enterprise value.
- You do not have an identified buyer.
- You cannot afford the sale to leak to employees, customers, or competitors.
- You need to keep running the business at full speed while the sale happens.
- You want a competitive process so multiple buyers drive up the price.
The economics most owners miss
The 10 percent broker commission feels expensive, but the actual question is net check. Broker-represented businesses typically sell:
- At a higher percentage of asking price (often 90 to 95 percent vs. 75 to 85 percent for DIY).
- In less time (6 to 12 months vs. 12 to 24 months).
- With a higher likelihood of actually closing (60 to 80 percent vs. 20 to 30 percent industry average for DIY).
On a $1M business, a 10 percent better sale price ($100K) plus a 6-month faster close (another $50K to $150K in continued earnings and reduced risk) usually more than covers the $100K commission.
The hybrid option
If you have a likely buyer but want professional help structuring and closing, consider a flat-fee transaction service or a consulting engagement with a broker. You get the experience without the full success-fee model.
BizBuzz Brokers offers a free, honest conversation about whether you actually need a broker for your situation. If you do not, we will tell you.
Frequently asked questions
Will I net more selling without a broker?+
Usually no. Studies and broker industry data consistently show broker-represented businesses sell at a higher percentage of asking price. Even after the 10 percent commission, most sellers end up with a larger net check than a DIY sale.
Can I sell to a family member or employee without a broker?+
Yes, and you usually should. For an identified internal buyer, you mostly need a CPA and an attorney. A broker adds limited value when the price and parties are already agreed.
What is the biggest risk of selling on my own?+
Breach of confidentiality. Word gets out, employees leave, customers panic, and revenue drops 15 to 30 percent before a deal closes. That alone can offset any commission savings.
How do I know if my business is too small for a broker?+
Most reputable brokers focus on businesses with $200K or more in SDE. Below that, the commission economics do not work for either side and a marketplace listing on BizBuySell may be your best path.
Can I do part of the process myself and bring in a broker later?+
Yes, but it is harder. Most brokers will not take a listing that has already been publicly shopped or mishandled. Bring the broker in before the first conversation with a buyer.
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