What does a business broker do?

A broker helps organise the commercial sale process.

For an owner considering a sale, the work can include preparing the opportunity, discussing positioning, handling buyer inquiries and coordinating the steps toward a possible transaction. The exact responsibilities depend on the engagement you agree.

At Clarity, the starting point is your goals and an overview of the business. The next conversation is about what needs to be prepared, how the business could be introduced and whether the proposed scope is right for you.

The engagement should make responsibilities clear.

Before instructing a broker, ask for a practical explanation of the work. Who prepares the materials? Who responds to interested buyers? How are buyers assessed? How will you be updated, and which decisions require your agreement?

• What fees and expenses apply, and when are they payable?
• Is the engagement exclusive, and for how long?
• What happens if you decide to pause or not proceed?
• How will information about the business be protected and shared?

Buyer interest is the beginning of an assessment.

An interested party is not yet a suitable buyer. Discuss the experience, resources and operating plan the opportunity requires, then consider how that will be assessed during the process.

A useful conversation looks at the complete proposal: the offered price, payment timing, conditions, intended handover and the commitments expected from you. Your preferences should be part of that evaluation, especially where the team or your continuing involvement matters.

Keep the right advisors around the table.

A broker’s commercial coordination does not replace legal or accounting advice. Before assigning work, be clear about who is responsible for financial preparation, transaction documents, tax analysis and closing requirements.

For example, CRA’s selling-a-business guidance describes tax and business-account issues that can arise on a sale. The treatment depends on the facts, so your own advisors should assess those requirements for the proposed transaction.

Use the first conversation to test the fit.

Explain what you have built and what you want next, then listen for clear answers about process, responsibilities and limits. You should leave with a better understanding of the work and the decisions ahead.

An inquiry is a way to begin that discussion. It does not commit you to an engagement or put your company on the market. The scope and terms should be understood before the sale process begins.