If you’re thinking about how to sell a small business, one big question is bound to pop up:
Should I use a broker — or can I sell it myself?
Hiring a business broker bizop.org can certainly make the process easier, but it comes with a cost: typically 5% to 12% commission on the final sale price.
That’s a hefty chunk of your hard-earned equity.
So it’s natural to wonder:
Can I sell a small business without a broker — and should I?
The answer? Yes, you can — but it depends on your situation.
Let’s break down the pros, cons, and best practices so you can decide what’s right for you.
The Advantages of Selling Without a Broker
1. Save on Commission Fees
This is the biggest motivator for most sellers.
Skipping a broker saves you thousands (or even tens of thousands) in fees.
Example:
If you sell your business for $500,000 and your broker charges 10%, that’s $50,000 gone.
By managing the sale yourself, you keep that money — potentially adding a nice bonus to your retirement fund or next business venture.
2. Maintain Full Control
When you sell your own small business, you control:
- How the business is marketed
- Who you speak to
- How negotiations are handled
- What information is shared and when
If you’re a natural negotiator, love networking, and want to stay hands-on, this approach can feel empowering.
3. Direct Relationship with the Buyer
Selling without a middleman often creates a closer relationship with your buyer.
This can lead to:
- More honest, transparent conversations
- Faster agreement on key terms
- A smoother transition process
Many buyers actually prefer working directly with the owner — it feels more personal and trustworthy.
The Challenges of Selling Without a Broker
1. Time-Consuming Process
Selling a small business is like having a second full-time job.
You’ll need to:
- Prepare all documents
- Market the business
- Screen buyers
- Negotiate deals
- Manage due diligence
- Handle closing paperwork
If you’re already busy running the business, adding “DIY selling” to your plate can be overwhelming — and may hurt day-to-day operations.
2. Risk of Underpricing (or Overpricing)
Setting the right asking price is tricky.
- Price too high? You scare away buyers.
- Price too low? You leave money on the table.
Brokers know market trends, buyer behaviors, and valuation methods that most owners don’t.
Without professional advice, you risk mispricing your small business — and missing your best opportunity.
3. Limited Access to Qualified Buyers
Brokers have networks of pre-qualified buyers actively looking for businesses.
They know who’s serious — and who’s just kicking tires.
Selling solo means you’ll have to:
- Advertise your business yourself
- Vet buyers carefully
- Manage confidentiality risks
It’s doable, but it requires effort, experience, and caution.
4. Emotional Involvement
Let’s be honest:
Selling a small business is emotional.
When you handle negotiations personally, emotions can cloud judgment.
It’s easy to:
- Get defensive
- Take low offers personally
- Make emotional decisions instead of strategic ones
Brokers act as a buffer to keep deals professional and objective.
Without that buffer, you’ll need to stay extra mindful of separating business from emotion.
Best Practices for Selling Without a Broker
If you decide to sell your small business without a broker, here’s how to maximize your chances of success:
✅ Prepare Your Business Properly
- Clean up financials (3 years of tax returns, P&Ls, balance sheets)
- Organize contracts, leases, and employee agreements
- Streamline operations
✅ Value Your Business Accurately
- Hire an independent appraiser, accountant, or valuation expert
- Research comparable sales in your industry
✅ Protect Confidentiality
- Use NDAs before sharing sensitive information
- Advertise smartly without revealing the business name publicly
✅ Create a Strong Marketing Package
- Write a compelling business summary
- Highlight financials, customer demographics, and growth opportunities
✅ Screen Buyers Carefully
- Ask for proof of funds or pre-qualification
- Conduct interviews to gauge seriousness and fit
✅ Negotiate Professionally
- Focus on facts, not emotions
- Put everything in writing
- Work with an experienced attorney to draft contracts
✅ Plan a Smooth Transition
- Offer training support
- Introduce buyers to key employees and vendors
When You Should Definitely Use a Broker
Even though selling solo can work, sometimes hiring a broker is the smarter move, especially when:
- Your business is highly complex or valued over $1 million
- You don’t have time to manage the sale yourself
- You want to protect sensitive information carefully
- You need help finding qualified buyers quickly
- You’re unsure how to value or market the business
- You’re feeling too emotionally attached to negotiate effectively
In those cases, paying a broker fee could end up making you more money — and saving your sanity.
Final Thoughts
Can you sell a small business without a broker?
Absolutely.
But it’s not right for everyone — and it’s definitely not “easy money.”
If you have the time, the skills, and the confidence, selling on your own can save you a ton in commissions and give you full control of the process.
If you’re short on time, need expert help, or want to maximize your selling price, a broker might be worth every penny.
Either way, the goal is the same:
Sell smart, sell strong, and sell with pride. 🚀
You’ve built something amazing.
Now it’s time to exit on your own terms — with the best deal possible.
