A day in the life with Business Broker Michelle Wright
If you've ever sold a business, it's likely a business broker would have helped you do it. Business broking is one of the most rewarding real estate careers that you can pursue, and it requires a unique skillset, according to Michelle Wright. "It's not just about selling techniques, it's also critical to be able to interpret financial information as well as understand a range of legal aspects to do with business sales. A successful broker needs sales, accounting and legal knowledge," says Wright. Wright has worked as a business broker for over five years, selling businesses all over Queensland. She is also on the REIQ Business Brokers Chapter Committee, bringing a wealth of experience that spans many different industries, from manufacturing to retail outlets. We spent a day with Wright to see what her typical day in the life of a business broker looks like, and we brought you along for the ride.
I recently moved to the Gold Coast about six months ago, so every morning I try and get out and about and do an 8km walk along the waterfront. I wish it was a run but I'm just way too lazy for that!
I'm just catching up on some admin now, the big difference between residential and business broking is that we seem to have a lot of paperwork to deal with. Currently, I'm reviewing some confidentiality agreements I've received. After that, I'm off to a few appointments.
This afternoon I'm doing an inspection on a wholesale production nursery. One of the really cool things about business broking is that we get to learn a lot about so many types of different businesses. Today, I get to see what $1.8 million worth of wholesale plants looks like!
My work day has now come to an end! I had great fun today, I learnt lots at the wholesale production nursery, so now I'm treating myself to this view, and that's wine... and I'd say life's pretty good as a business broker!
Highlight of the Day:
I always love facilitating meetings between buyers and sellers. It is so interesting to learn about the seller's journey in business and to hear about their successes and hard work. I also really like understanding the motivations of the buyer, what they want to achieve and what plans they may have for the business if they proceed. Interested in becoming a business broker? Learn more about our real estate training. Or, book in for a career coaching session with one of our qualified trainers to find out more about your real estate career opportunities.
15 Nov 2019
3 min read
Are your property transactions safe from cybercrime?
The property market is the perfect playground for cybercriminals - large sums of money are constantly being transferred between parties with the majority of communications sent via email.
15 Nov 2019
5 min read
Be careful what you do with confidential information
The recent settlement of a claim between a real estate agency and a former employee serves as a timely reminder to real estate professionals that utilising a former employer's confidential client information can be very costly.