The Hidden Conflict When Selling Your Business: Buyer Groups vs. a Business Broker

Business Broker vs. Buyer Groups

Online marketplaces are rapidly changing how businesses are bought and sold.

Today, sellers can list their companies on dozens of websites, use AI tools to estimate valuations, and connect with communities of buyers across the internet.

Recently, platforms and buyer communities have started promoting a new message to business owners:

“Sell your business without a broker.”

Some even highlight what they claim are the downsides of using a Business Broker, such as:

• Broker commissions of 5–10%

• Exclusivity agreements

• A longer sale process

At first glance, these arguments may sound appealing to business owners preparing for an exit. But there’s one important detail many sellers miss. Who is the advisor actually working for? Because in many of these buyer communities, the platform is paid by buyers, not sellers. And that creates a fundamental conflict of interest.

Who Does the Business Broker Represent?

When you sell a house, you hire a listing agent whose job is to maximize the sale price. You would never expect the buyer’s agent to negotiate in your favor. The same concept applies when selling a business.

A Business Broker or M&A advisor hired by the seller is responsible for:

• Positioning the company to maximize value

• Creating competition among buyers

• Negotiating deal structure

• Protecting confidentiality

• Driving the process toward the highest valuation

Their incentives are aligned with the seller. The better the outcome for the seller, the better the outcome for the broker.

A Buyer Group or Buyer Advisor

Buyer communities often work differently.

Many of them:

• Charge buyers $20,000–$40,000 for access to deal flow

• Represent buyers in identifying acquisition targets

• Help buyers negotiate purchase terms

This means the platform’s paying client is the buyer. And when negotiations begin, the buyer’s objective is simple: Acquire the business at the lowest price possible.

Why This Matters for Valuation

Most business owners underestimate how much process strategy affects price.

The difference between one buyer versus multiple competing buyers, can dramatically change the outcome.

A skilled Business Broker creates competition in the market by:

• building a targeted buyer list

• marketing the opportunity strategically

• qualifying serious buyers

• managing a structured offer process

This competition is often what pushes valuations higher. Without that process, sellers frequently find themselves negotiating with a single buyer, which can put downward pressure on valuation.

The Illusion of “Saving the Broker Fee”

Many seller-focused advertisements emphasize avoiding broker commissions. But the real question is not “What does a broker cost?”

The real question is: “What does the right advisor help you gain?”

In many transactions, a well-run process can increase the final purchase price by far more than the cost of the broker’s fee.

For example: A business worth $4M might receive offers ranging from:

• $3.5M from a single buyer

• $4.5M+ in a competitive process

That difference can easily exceed the commission. In other words, the right Business Broker often pays for themselves many times over.

Why Sellers Should Align With Sell-Side Representation

If your goal is to maximize the value of your business, your advisor should be aligned with that objective. A sell-side Business Broker works exclusively for the seller and focuses on:

• driving valuation

• managing buyer competition

• structuring favorable deal terms

• protecting the seller’s interests

A buyer advisor, on the other hand, is working toward the opposite objective. That difference in alignment matters. Especially when millions of dollars may be on the line.

The Bottom Line

Buyside platforms help inform and educate buyers. However, if someone is being paid by the buyer, their job is to help the buyer get the best deal possible, not to help the seller get the highest price.

When it comes time to sell your business, the most important question isn’t whether you can connect with buyers. It’s who is representing your interests in the negotiation. Because in every transaction, there are two sides.

• One side is trying to buy the business for the lowest price possible.

• The other side is trying to sell the business for the highest value possible.

If you’re the seller, your advisor should be firmly on your side of that table. That’s the role of a sell-side Business Broker.

Thinking About Selling Your Business?

If you’re considering selling your company, understanding how buyers evaluate businesses is the first step.

Carson Bomar, a Tampa business broker, and Matt Perkins, an Ohio business broker, are the co-founders of Exit Game Plan and experienced business brokers and mergers & acquisitions advisors representing clients across the United States.

They help business owners prepare for sale, position their companies for maximum value, and run structured sale processes designed to attract qualified buyers and competitive offers.

Because selling a business isn’t just about finding a buyer, it’s about finding the right buyer at the right price and on the right terms.

If you’re exploring a potential exit, contact Carson Bomar and Matt Perkins for a confidential, no-pressure conversation about the value of your business and the steps involved in a successful sale.