With the growth of internet businesses, online business brokers seem to be popping up all over the place.  Are they worth considering if you want to sell your business?  Maybe!

Online business brokers make more sense for internet businesses than offline businesses.  If the business is on the internet, the buyer likely will not be local, so it may not matter that much if your business broker is nearby or halfway around the world.  So if you are selling an internet business, than an internet business broker might not be that crazy.

Offline businesses may be a different story.  An online business broker is likely cheaper, but you as the seller need to be responsible for interacting with the buyer, who is also likely local and will want to interact with a human, not just the computer.  In effect, this becomes for of a “business for sale by owner”, but with a guide helping you in the process.  It’s not an approach for everyone, but in the right circumstances, it can save a seller a considerable amount of money.  For example, Fixed Priced Business Brokers charges a flat fee to help with the offering package and marketing, and the net savings to a seller could be tens of thousands of dollars compared to paying 10-15% commission.

The biggest challenge with using an online business broker is evaluating the qualifications and skills of the broker itself.  This is a challenge in the offline world, and the anonymity of the internet makes the process even harder.  Make sure you understand exactly what you are buying and maintain good communication with the broker.  With care, an online business broker might be a great way to cost effectively sell your business.