This week’s question comes from Dustin, who asks:
“If I start working with a business broker to buy a business, should I stick with that same broker even if I find a business for sale somewhere else?”
Great question, Dustin.
Let’s unpack this by talking about how co-brokering actually works in the world of business brokerage. https://youtu.be/09ndJBQT6A8
What Is Co-Brokering?
In real estate, co-brokering happens all the time. Agents have access to Multiple Listing Services (MLS) that make it easy for them to show and sell properties listed by other agents. The MLS is designed to facilitate cooperation between brokers—so one agent can show you dozens of homes listed by many others.
But the business brokerage world doesn’t work quite the same way.
Why Co-Brokering Is Rare in Business Sales
When I was a business broker, I worked under an international franchise brand that technically encouraged co-brokering between offices.
But in practice, some offices refused to do it.
Why?
Because they wanted to keep the entire commission for themselves.
Here’s why that’s easy to do in business brokerage:
Business listings are private.
Unlike houses, businesses for sale aren’t publicly listed with names or addresses.There’s no shared MLS system.
Each broker markets their own listings independently.Some brokers simply don’t get along.
Personal differences can stop co-brokering dead in its tracks.
The end result?
Cooperation between brokers is the exception, not the rule.
What This Means for Buyers
If you start working with a broker and they show you a few opportunities that don’t fit, don’t feel obligated to stay with them exclusively.
You’re absolutely free to talk with other brokers who are representing other businesses for sale.
You’re not stepping on anyone’s toes—it’s just how the business works.
Every broker only has access to their own listings, and since there’s no central database, you’ll need to cast a wider net to find the right fit.
Why Relationships Still Matter
That said, there is value in building a strong relationship with a broker who understands your goals.
A good broker will:
Learn what kind of business you’re looking for
Understand your financial and lifestyle objectives
Help guide negotiations between buyer and seller
That leadership and insight can often make the difference between a deal that happens and a deal that falls apart.
Final Thoughts
So to answer Dustin’s question directly:
No, you don’t have to stay with one broker exclusively.
Feel free to explore other listings and other brokers if it helps you find the right business to buy.
Just remember—the business brokerage world isn’t like real estate.
You’ll likely need to contact several brokers to see the full range of available opportunities.
Learn How to Buy a Business the Right Way
If you want to make sure you’re approaching your search correctly, check out my full online course at BusinessBuyerAdvantage.com.
It’s a full-day workshop that you can take at your own pace, and you’ll get lifetime access to all materials—so you can review and revisit whenever you need.
👉 Want deeper dives like this? Join my email list at DavidCBarnettList.com for early access to videos, insights, and 7 free bonus gifts.
— David C. Barnett
