Course #158 allows participants to achieve success in Main Street business brokerage by focusing on the last four phases of the business brokerage process: navigating the sale, removing contingencies, closing and following up on the sale. Course #158 begins with a review of the transaction process and then educates on presenting an offer, managing the negotiation, managing due diligence, and managing a successful closing.

Course #158 is the third in a three-part series of courses (#150 and #155), and it is recommended that participants have completed courses #101, #150, and #155 prior to enrolling in #158. The #150, #155 and #158 trilogy provide participants with the knowledge and skills enable them to progress smoothly from having an offer on the table to closing a transaction successfully. 

When you complete this course, you should be able to:

• Discuss the skills, knowledge and attitude that a successful business broker needs.
• Identify the steps involved in getting an offer on the table.
• Discuss the roles and relationships of key individuals in a transaction.
• Explain the key components of an offer.
• Identify five formats for presenting an offer.
• Discuss the substance and effect of contingencies and conditions in an offer.
• Write an offer that has the best change of being accepted by the Seller.
• Identify proper time, place and manner to present an offer.
• Explain how to handle the earnest money.
• Negotiate a counter offer.
• Manage multiple offers.
• Work with a Buyer to complete due diligence.
• Prepare proper lease conveyance.
• Proceed with Lender financing for the Buyer.
• Open escrow.
• Coordinate documents for closing.
• Communicate with all parties about closing.
• Review final documents with Buyer and Seller immediately before closing.
• Manage final inspection of the business.
• Supervise inventory reconciliation.
• Manage the closing proceedings/meeting.
• List strategies for Broker to acquire business after the closing.
• Discuss ways for Broker to analyze and archive each transaction.

• Contact:
  IBBA Education