What is a Business Broker?

Training,  Training

You’ve looked into becoming a property manager or real estate agent, and perhaps you’ve even thought of becoming an auctioneer or a buyer’s agent. But have you ever thought of becoming a Business Broker?

Unlike a real estate agent who manages the sale of homes, a business broker manages the purchase and sale of a business. This involves management from initial assessment right through to the final settlement. Get started today, learn more about completing a registration course with the REIQ here.

How to become a business broker

While there are no prerequisites to become a broker, as with any real estate career, working with people is one of their primary responsibilities. To help manage your client relationships there are a few key skills that will help put you in good stead as a business broker.

Negotiation skills are high on a broker’s skills list. As with any property, a broker must get a buyer and a seller to mutually agree on a business deal. This can be extremely challenging when dealing with two separate businesses with its own set of goals and objectives.

Communication skills are just as vital. “Being assertive is sometimes necessary when dealing with tough parties, but always remain constructive and respectful,” says Dione Mauric, Advantage Business Sales and Valuations.

Many business brokers in Australia also have an accountancy background, or at minimum an avid interest in numbers. Deciphering financial statements are an essential part of the job.

“I would recommend having a good understanding of a profit and loss, knowing the numbers makes business broking significantly easier,” says Michelle Wright, Complete Business Brokers.

Resilience and enthusiasm are not to go amiss as a broker.

“The best business brokers are prepared for things not to go their way, and they take it in their stride,” says Dustin Slypen, LINK Business Brokers and 2020 REIQ Broker of the Year.

Love Property? Make it your career!

What Are the Steps to Becoming a Business Broker?

Secure Your Registration

To become a business broker in Australia you must hold a real estate licence. Study a registration course with the REIQ to become a licenced business broker, real estate agent, property manager, buyers agent and more.

Get Experience Under Your Belt

Once you are qualified or even while you are studying, it is recommended that you get some experience in the field under your belt. Not only will this help expose you to the industry, but it will also help you determine the agency/environment you would like to work for.

“There are many large companies that provide business broking services, I would recommend contacting them to discuss what business brokers do and see what in house training they may be able to provide,” says Wright.

Stay Educated

Once you’re qualified and have secured experience, your focus should be to stay educated and upskill when you can.

Become a member of professional organisations like the REIQ to help you stay updated with industry news and specialised training opportunities.

Here’s what others have to say

Based on 80 reviews.
Alana Whelan
Alana Whelan
09/06/2022
Rachael Wilschefski has been an amazing tutor!! So helpful and encouraging and a great source of knowledge. I'm so thankful I have been able to work with her on my course.
Colin Ding
Colin Ding
06/06/2022
Great course design and online module tools, useful student support especially the private training when you needed. Credit to Rachael for all the support and assistance during the learning period. You are a legend.
Edward Mearns
Edward Mearns
06/05/2022
This course was quite confusing at times. But I thank SELINDA RANDALL for all of her feedback on questions and helping mark my assessments! Great work guys 🙂
Thomas Deane
Thomas Deane
17/03/2022
I would thanks REIQ for the amazing services that have deliver to me. I got so much out with quick response and and amazing Tutorial they have and the amazing staff that give you one on one support. I would recommend if you want to get your realestate exam go through the one and only REIQ
Jo Wilkie
Jo Wilkie
20/02/2022
Completed My Real Estate Licence with REIQ in 2021. Great Experience. The team at REIQ were really supportive of students challenges and were very professional and informative in how they responded to students during the assessment tasks. Many thanks. Would highly recommend if you are seeking your sales persons license or your full license to only use REIQ.

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