Thinking of selling your small business? Are you one of those intrepid entrepreneurs who think they can market, negotiate and close a deal on their own or are you going to take the more logical route of working with a business broker? If sanity prevails and you are going to work with a professional, here are some things to look for in finding the best business broker.

1. Get recent referrals

Ignore all the hype a brokerage firm places in their literature and ask for recent references and then follow up and check them. If you are dealing with a larger business brokerage, get referrals from the broker you will be working with. Big offices will always have newbies and you want to make sure the broker you get knows what he’s doing.

2. Work with certified brokers

Many states require commercial brokers to have a real estate license, but just having that license doesn’t mean the broker necessarily knows anything about buying or selling a business. In fact, a number of real estate agents become “business agents” when the real estate market slows down. What you should be looking for is certification from the Association of Business Brokers International which awards a certificate as a Certified Business Intermediary (CBI) after completing an extensive educational course.

3. Don’t be fooled

If the reason you are considering selling is because you received a letter or email from a broker with the message “We have a buyer for you,” think again. This is one of the most common marketing tactics used in this business. Sure, these brokers probably have people interested in buying a business, but not necessarily yours.

4. Don’t rush into a decision

Selling your business is a big deal and you want to make sure you get it right. In your conversation with brokers, ask if now is a good time to sell. Ask for a valuable opinion. Getting to this can take a bit of time, and if the broker is reputable, he or she may recommend that you not put the business on the market, but instead make suggestions on what to do to improve the value. A broker who makes this suggestion is looking to make both of you more money by making the business more attractive.

5. Choose a brokerage with experience in your industry

Look at the current listings the broker has. Check both the size and types of industries to make sure you have experience in your market. Again, don’t rely on the marketing material, find out the facts yourself.

6. How does the broker market

Ask what the broker’s marketing plans are and ask to see samples. If you simply put an ad in the newspaper or post it on only one website, you probably won’t get the exposure you deserve. Good brokers have networks they can access to find interested and qualified buyers.

7. Avoid service packages

At some point in the sales process, you will need the services of an attorney and a qualified accountant. Your broker will probably offer those services, but in most cases what he or she is doing is subcontracting to someone else. If you have your own attorney and CPA, stick with them. If not, it may be less expensive to find and deal with those professionals directly instead of getting them through the broker.

Finding the best business broker is really not that difficult, it just requires some time and effort on your part. However, getting the best broker makes a big difference in how the experience unfolds and the overall value of the deal.