Selling Your Business - The Emotional Side Of Business Brokering
The first broker I ever worked for said, "Every deal you have will die at least 5 times before it closes. How you handle that, will determine whether you can survive doing this for a living." As I enter my 11th year doing this, I still smile at that memory because it is as true today as it was then.
I just recent closed a deal that broke the record for the above statement. It was in escrow for 5+ months and both the buyer and the seller said, "forget it I'm out", at least 10 times each! So the questions is; how did close? The answer is patience, patience, patience.
As a broker, you need to have a lot of knowledge about business, accounting, real estate, tax issues, regulatory issues, landlords, licenses, etc.. But the most important aspect of what I do has nothing to do with that. My biggest asset is my understanding of other people's thoughts and feelings.
I remember what it was like when I was trying to sell my own business and I draw on those feelings every time, so that I can put myself in the sellers shoes and see why he's behaving the way he is. The same goes to buyers, even more so. They are worried about so many things, it's no wonder tempers fly.
I've learned over the years that there's far more emotion in small business sales then any other type of real estate transaction. People are either putting their life's work, or their life's savings into the deal. That's a good reason to feel emotional. Brokers can become like doctors, desensitized from remembering that because after a while it's hard to deal with day in and day out.
So for all those buyers, sellers and brokers out there ... I say, stay patient everyone has their own perspective.
Try to put yourself in the other guy's shoes; it's the key to getting the deal done.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|William F. Ziprick, Attorney: Legal Services For Buyers And Sellers
Through creative problem solving, attention to detail, accessibility, & understanding that unnecessary delay is often a deal killer, I work closely with my clients and other professionals to consistently achieve a high rate of closings. Office: 909-255-8353, Cell: 509-951-7230.
|Shalonda Chappel: Escrow & Bulk Sale Services - Southern California
Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.
|Diane Boudreau-Tschetter: Escrow & Bulk Sale Services In California
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
|Helen Yoo, New Century Escrow - Escrow Services In Southern California
Helen Yoo at New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Carolina Shreve, Business Broker: San Diego Area
At The RIBOC Group we will tell you the honest truth of the value of your business and property. We do a thorough market analysis to determine the time it will take to sell. Others can promise you the moon, but it does come down to honesty.
|Art Blumenthal, Business Broker - Auto Specialist, California
Art Blumenthal LLC provides business brokerage, valuations, and exit planning consulting to businesses of all sizes. The company specializes in the automotive aftermarket on a nationwide basis, representing leading chains, franchises, and independent dealers.
|Edward Fixen, Business Broker, at Businessquest
Mr. Fixen is a Certified Business Broker with over 20 years experience as a Fortune 500 executive manager, business owner and business broker. Ed is the president of BusinessQuest, a full-service business brokerage firm helping buyers and sellers throughout Southern California.
|Harv Wyman, Car Wash Specialist: Southern California
Car wash specialist in the Southern California area. I graduated from USC with a degree in Business Administration. I have had a career in finance and commercial real estate that has spanned over 30 years. I visit an average of 30 car washes per month and have a vast network of buyers and sellers.
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