Why Cutting Corners in Business Sales Costs You More Than You Think

When I started selling small businesses, I lost a listing to a competitor.

It was a small business outside Nashville. The partners wanted to sell and move on.

I spoke with the sellers, explained the process, and outlined next steps, including a valuation. Then, crickets.

A week later, I followed up and still nothing.

Two weeks later I called again. They told me they signed with another broker.

Why? The broker skipped the valuation, asked their price, suggested listing for 10% more to cover his commission, and called it a day.

They liked the simplicity. I told them if it didn’t sell in 3 months, call me.

Three months later, they called. No leads, no communication from the other broker, no idea where it was advertised.

I found it buried on Craigslist with 50 other “businesses” in a single post—because Craigslist is free and requires no effort.

They ended that agreement and asked me to step in. I agreed but only after a proper valuation.

Here’s the kicker: we had multiple serious buyers within a month and sold it for more than the other broker’s asking price.

Good brokers invest time and money to attract the right buyers.

The buyer? A couple from the Midwest—not exactly cruising Craigslist to find a business to support their family.

If your broker doesn’t do the work upfront to value your business, they won’t do the work to find the right buyer.