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How Many Listings Is Too Many For One Broker To Handle?

In this short vlog/podcast, we talk about how many listings is too many for one business broker to handle at one time. Is it 5 is it 20? I recently had a coaching call with one of my BizBen broker clients who asked that question this week. There are many factors that go into the answer. Peter Siegel, MBA with BizBen discusses this issue on a BizBen Vlog/Podcast.


Comments Regarding This Video Or Podcast

1/24/2017

I think 10-12 listings is manageable, but an important point is that they are exclusive listings. A rookie mistake is to take a lot of open listings, because you end up spending time to get them sold, and may never receive a commission when they do sell by someone else, including the owner. I also suggest to focus on a certain type of business that you sell, whether it's restaurants, mail box stores, etc., because the inventory of listings do feed off themselves with buyers.

I have found that many sellers will go on to sites like BizBen and see what the market value is like, and they will call me off my postings to get more information on how it relates to their business, and so it's important to realize that descriptions in postings are not only for buyers, but also potential sellers.

1/22/2017

I think the number is relative. Some postings get a lot of response and therefore require alot of work and have a huge time requirement. For example, restaurants will get a lot more response than a contractor will. If you find a broker who has 20 contractor listings, he probably won't be as busy as a broker who has 5 restaurant listings. The fact remains that many inquiries that come in for businesses for sale are usually tire kickers, and a broker who has a bad ratio of businesses will spend a lot of time with tire kickers.

For example, you may think it's best to hire a broker with 10 to 20 restaurant listings over a broker who only has 2 or 3. You can almost guarantee that the broker with more listings will take longer to get back to interested prospects than the broker with 2 or 3.


  Helpful Resources To Assist In Selling And Buying California Businesses

Helen Yoo: Escrow & Bulk Sale Services - Southern California

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.

Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.

Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 800-864-0420.

Elizabeth McGovern: Escrow Services - SF Bay Area

McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.

Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area

Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.

Diane Boudreau-Tschetter: Escrow And Bulk Sale Services

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.


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Workshop: Find Businesses Possible For Sale Not On The Market - Seal Beach Location. Date: Saturday 3/11: 1:30 PM to 5:30 PM. Call 800-864-0420 for more information or to register. Willard Michlin, CPA will be presenting this workshop.

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