A Listing Agreement is More Than Just a Piece of Paper
It is argued that the sale of a business should start right after its launch – by implementing the exit strategy. In practice, however, that is usually quite hypothetical and most business owners are spared from the urge of selling their business until later down the road. Once decided they would like to sell the business, the first big step and sudden realisation of what is ahead of them takes place during signing a listing agreement (a document required by business brokers).
Signing listing agreement is more than just a giving a signature – it legalises the sale of the business and means the end of ownership. For some owners, selling means stepping into an unknown territory and saying goodbye to what they build from scratch or put significant effort into. For others it may be less emotional, but regardless of the emotional attachment, a little of the business always stays in the owner’s heart.
The other side of the equation is quite different – buyers signing the same agreement are full of expectations, dreams, opportunities for independence and the start of business ownership. Everything is about to happen and usually nothing holds them back.
There you have it – what seemingly appears to be a simple piece of paper is in most cases more than just that. It represents a bridge to a new destination, new future. More importantly, business brokers facilitating the sale are able to relate to both sides of the sale and look at it from two perspectives. By respecting expectations and visions of their clients, business brokers help them progress through the business transaction process into the new phase of their lives.