How to become a business broker in Australia: careers in real estate

What does a business broker do?

Simply put, business brokers represent the financial interests of their client in the sale of a business. They are the bridge between the buyer and seller, guiding the sale process and facilitating the negotiation of settlement terms that both parties consider fair and advantageous. As businesses vary in size, operations and profitability, brokers may choose to specialise in a particular industry to refine their understanding of businesses within that sector. A large part of the brokerage process involves understanding the motivations of both the seller and buyer to ensure their aims are complimentary. Daily duties may include: acting as intermediary in meetings between both parties, performing evaluations of business and assets, overseeing financial transaction between parties, conducting searches on behalf of the buyer and general management of business deals.

Tasks:

Complete profitability reports for companies
Adhere to confidentiality guidelines
Act as intermediary party in negotiations
Profile a buyer’s financial security

What skills do I need to be a business broker?

A key part of this role is to act as an intermediary in discussions related to the sale of a business. Business brokers require a knack for both conversational and interpersonal skills, in addition to possessing insight into how businesses generate and maintain an income stream. The sale of a business can be an emotional prospect for the seller and buyer; sensitivity to the aims and aspirations of your clients and the ability to manage expectations will stand you in good stead. Brokers are also privy to the proprietary and financial information of the parties involved in the sale. You’ll need to be able to provide an accurate valuation of a business, perform market analysis and financial security checks while maintaining professional discretion and prudence.

Skills/attributes

Superb communication skills
Business savvy and sales-oriented
Ability to conduct oneself professionally
Good with numbers
Enthusiasm for compiling research

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Specialisations

If embarking on a career as a business broker appeals to you, there are a number of pathways and specialisations in real estate that may also be of interest in helping you achieve your career goals.

Real estate sales person

A real estate sales person acts as a financial intermediary on behalf of the owner of a residential property. They operate with the best interests of their client in mind, aiming to find a suitable purchaser and maximise the sale price of the property.

Insurance broker

Insurance brokers provide professional advice to help their clients obtain the best value insurance policies for their needs. Whether for commercial, corporate or personal insurance, brokers examine the insurance policies available to their clients and assist them in choosing an appropriate amount and type of coverage.

Property manager

Property managers represent the owners of residential and commercial properties, ensuring the suitability of tenants and undertaking periodic inspections of the premises. They deal with advertising, rental monies, repairs and maintenance to the property and rental tribunal hearings, should they arise.