What Does a Business Broker Do?

by Vanessa Lovie-Yousaf 1st of September, 2026

Business Broker Working

Business brokers are professionals who help people buy and sell businesses, from small owner-operated businesses to multi-million-dollar companies. In Australia, business broking is a small field, and brokers build their skills over years of working in business sales.

Many brokers come from backgrounds in small business ownership, accounting, banking or real estate. A sale can take several months, so good brokers need to communicate well and keep everyone moving towards settlement. Their role is often closer to a project manager or intermediary than a typical salesperson.

Brokers can act for either party, but they are usually engaged by the seller (the vendor) and paid a commission when the sale settles. Some also charge an upfront marketing or listing fee. Read more: How much is a business broker's commission?

What a Business Broker Does

1. Assessing and Preparing the Business

A broker's first job is to look at whether the business is ready to sell. They review the financial records, the lease, key contracts and how much the business depends on the owner, and identify anything a buyer is likely to question.

Where there are gaps, the broker helps the owner prepare. That can mean getting the financials clear and up to date, making sure the lease and contracts are in order, and documenting how the business runs day to day. A well-prepared business is easier for buyers, their accountants and their lenders to understand, which can help it sell faster and with fewer surprises during due diligence. For more, see our guide to selling a business.

2. Appraisal and Valuation

Brokers help work out what a business is worth by looking at its financial records, assets, market conditions and comparable sales. Most provide an appraisal, which is an opinion of the likely market price.

A formal valuation is different. It is usually prepared by a qualified business valuer, and may be needed for legal matters, disputes between business partners or finance applications. Some brokers hold valuation qualifications themselves.

What does a business broker do graph

3. Marketing the Business

Brokers prepare the marketing material for a sale, including online advertisements and an information memorandum. They advertise through business-for-sale marketplaces such as Bsale, industry publications and their own buyer databases, which often produce a large share of enquiries.

4. Screening Buyers

Not everyone who enquires is a genuine buyer. Brokers qualify buyers to check they are serious and financially able to complete the purchase, and protect the seller's confidentiality by asking buyers to sign a confidentiality agreement before sharing detailed information.

5. Negotiation

This is where a broker's skills are really tested. Brokers act as the go-between for the buyer and seller, helping them reach terms both can accept. That often means coordinating accountants, solicitors and other advisers so the deal keeps moving.

6. Due Diligence

Buyers will want to check the business thoroughly before committing. Brokers help the seller prepare and organise the documents needed for due diligence, and work with the accountants and solicitors on both sides.

7. Settlement and Handover

Brokers guide the sale through to settlement and are often involved in the handover, including the training period when the new owner takes over.

How Are Business Brokers Licensed?

There is no single national licence for business brokers. Each state and territory sets its own rules, and in most cases business broking falls under the same licensing system as real estate. That causes some frustration among brokers, as selling a business is quite different from selling property.

Licensing is there to make sure brokers meet minimum standards and to protect both buyers and sellers. Before you engage a broker, check their licence with the regulator in your state or territory.

State or territory	Government licence register
NSW	NSW Fair Trading – Check a Property Agent Licence
VIC	Consumer Affairs Victoria – Estate Agents Public Register
QLD	Office of Fair Trading – Property Licence Register
WA	Consumer Protection WA – Licence Search
SA	Consumer and Business Services – Find a Licence Holder
TAS	Property Agents Board – Register of Property Agents
ACT	Access Canberra – Business Agent Licensing and Registers
NT	Licensing NT – Public Register

What Role Does the AIBB Play?

The Australian Institute of Business Brokers (AIBB) is the professional association for business brokers in Australia. It promotes professional standards and ethics, and offers training, workshops and professional designations to help brokers build their skills.

The AIBB also represents brokers in discussions with government and regulators, and brings the industry together through state events, an annual national conference and its industry awards. For more on its work, see Inside AIBB's Push to Professionalise Business Broking Through Education and John Kasapi Named 2026 AIBB National Business Broker of the Year.

Meet Australian Business Brokers

Bsale regularly interviews business brokers for the Bsale eMagazine about their careers, their markets and their advice for buyers and sellers. Here are some of our recent interviews:

How Do I Choose a Business Broker?

With hundreds of brokers advertising on Bsale, choosing the right one can feel daunting. Look for experience with businesses like yours, knowledge of your local market, a clear explanation of their fees and a track record of completed sales.

Our guide on how to choose a business broker and our list of 15 questions to ask your potential business broker can help, and it is worth understanding how much a business broker's commission is before you sign. You can also browse brokers in your area through Bsale's business brokers directory.

Originally published 22 March 2013. Updated November 2026.

Tags: business brokers selling a business