Do You Really Need a Business Broker to Sell Your Firm in Australia?
Thinking about selling your business and wondering whether a business broker is worth it? In Australia, business brokers can offer convenience, but their commission fees and control over the sale process may not suit everyone. In this blog, we break down what business brokers actually do—and whether you’re better off going broker-free.
What Does a Business Broker Do?
A business broker acts as a middleman between sellers and potential buyers. They usually handle:
- Valuation advice
- Marketing your business for sale
- Screening and negotiating with buyers
- Coordinating due diligence and contracts
While this can save you time, it often comes at a cost—anywhere from 5% to 10% of the sale price.
Pros of Using a Business Broker
- Less involvement needed from the seller
- Access to broker buyer networks
- Negotiation expertise
- Support with legal paperwork and processes
Cons of Using a Broker
- High commission fees
- Limited transparency during negotiations
- You may have less control over how your business is presented
- Not all brokers have specialised knowledge in your industry
When You Might NOT Need a Broker
You may not need a broker if:
- You already have interested buyers
- You want to maximise your sale proceeds
- You prefer to stay hands-on during the process
- You’re using a platform that connects you directly with pre-qualified buyers (like Sell My Firm)
What Are the Alternatives?
If you’re confident in handling communications, you can use a broker-free platform or engage legal and accounting experts directly. This keeps you in control and avoids hefty commissions.
Platforms like Sell My Firm offer a hybrid model—connecting you with serious buyers, while avoiding the high costs and limited transparency of traditional brokers.
Reference
To learn more about what business brokers do, visit this overview from business.gov.au on selling a business.