As a follow up on this topic, I think it's important to remember that your intermediary or agent, does not create buyers. A broker cannot snap his fingers and produce a buyer out of thin air. Brokers don't create buyers, they find buyers who already exist.
I think it's a very important distinction to explain, because many sellers are missing out on buyers.
For any business there are buyers. The trick is to approach the buyer at the right time, when they are ready and willing to buy. There are a million things that come up, and some buyers who may be interested and ready to buy now, may not be in the same situation a month from now.
And the opposite holds true. Sometimes the buyer is there, but just isn't ready right now. Our job as a broker is to be there, when the buyer is looking and present to them an opportunity in an appealing way that causes them to take further action.
Here is the problem though.
Many sellers who list their business want to start high and see what happens, and then lower if they don't get any interest. This however is a slippery slope. Remember placing an ad, does not create a buyer. The buyer is already out there. If you over price your business, you may miss out on the perfect buyer, who would've bought your business, but the price was way out of line for the business.
Nobody wants to over pay for anything. Even the super-rich, don't brag to their buddies about how much they overpaid for something. Everyone brags about what a good deal they got. When you price your business too high, you may miss out on that perfect buyer for your business, because they just moved on because your business didn't fall within the correct pricing model.
A better plan is to list your business for sale at a proper price and stick to that price. As offers come in, don't accept any low ball offers and stay firm on your price. This is a better plan than to price your business high and let buyers submit lowball offers.