Additional information on each question from 50 Questions to Ask a Business Broker When Selling a Business
Q4. Do you have any credentials or certifications as a business broker?
Why should you ask this?
Real estate brokers must have a license in every state (see question #1), but the requirements for business brokers vary from what I can find, with some states not requiring a license at all. If a license is required, check whether the broker holds a Certified Business Broker (CBB) designation.
Other non-state certifications that might add credibility to the broker include:
- Accredited Business Valuation (ABV)
- Certified Business Broker (CBB) (mentioned)
- Certified Business Intermediary (CBI)
- Certified Mergers & Acquisitions Professional (CM&AP)
- Mergers & Acquisitions Master Intermediary (M&AMI)
- Certified Merger & Acquisition Advisor (CM&AA)
- Professional Certificate in Mergers & Acquisitions (M&A)
- Certified Mergers & Acquisitions Professional (M&AP)
Credentials or certifications can sometimes be found listed on the broker’s website.
There are a LOT of certification programs out there, the above were just a few examples of common ones. If they are listed on the broker’s website and/or they inform you of a certification or certifications, do a little digging, was this a 10-hour course or a several month course intensive. What school or accrediting facility issued it?
