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Old 26th September 2010, 09:11 PM   #3
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Join Date: May 2010
Location: Detroit, MI
Posts: 1,352

Originally Posted by Biz Optimizer View Post
Having worked with many brokers some who knew what they were doing - to those that knew virtually nothing -
Having a financial background and seeing the pitfals that a broker without sound financial knowledge can unknowingly leave on buyers and sellers:

You are buying/selling CASH FLOWS! It is VERY important that you or your broker understand finance!!

I would suggest a STRONG financial background

The broker world is full of people who lost their own business, but can tell you how to do yours. It is full of realtors who think it is as easy a piece of real estate - showing the pretty buildings. Do your first piece of due dilligence on the broker - get them to give you a perspectus on the business you seek to buy or sell - or at least one of their listings.

Certifications by 100 different certification companies don't mean much - look for what they are telling you from the numbers. Pay attention to the details - not the frilly words that are probably just boilerplate in ALL of their perspectuses.

Good choices here can mean the difference between business success or failure - or of never seeing the money out of your sale - BE CAREFUL!!!

Very well put. You have to make sure the broker you are dealing with is capable' otherwise you will be wasting your valuable time.

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