In some cases, a business broker may also be able to sell the real estate associated with your business. However, this will depend on the broker’s qualifications and expertise in real estate transactions. Here are some things to consider when deciding whether to use a business broker to sell your business real estate:
- Qualifications: Not all business brokers are licensed to sell real estate, so it’s important to check your broker’s qualifications and ensure they have the necessary credentials to handle real estate transactions.
- Expertise: Selling real estate is a different process than selling a business, and requires specialized knowledge and expertise. Make sure your broker has experience in real estate transactions and understands the local real estate market.
- Time and resources: Selling real estate can be a time-consuming process, and may require additional resources and expertise beyond what a business broker can provide. Consider whether your broker has the time and resources to handle the sale of the real estate alongside the sale of the business.
- Cost: Selling real estate may involve additional costs, such as legal fees and closing costs. Make sure you understand the fees and costs involved in selling your business real estate, and whether your broker’s fees are reasonable.
In summary, a business broker may be able to sell your business real estate, but it’s important to consider their qualifications, expertise, time and resources, and cost before making a decision. Work with a broker who has experience in both selling businesses and real estate to get the best possible outcome for your sale. Many times state law determines if your business broker must also be a real estate agent.