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Didn't sell? Questions owners ask

Was it the broker or the process?

Should I change business broker if my business hasn't sold?

The short answer

Changing broker may make sense, but changing the name on the engagement letter without changing the strategy is unlikely to solve the problem. First establish what was wrong with the previous value, positioning, buyer universe, outreach or transaction process. Then check your current agreement — notice, exclusivity, tail periods and protected buyers — before instructing anyone new.

The Offsell view

Changing broker only makes sense if something about the sale strategy also changes. Repeating the same valuation, positioning and buyer approach with a different adviser is unlikely to solve the underlying problem.

What has to be different the second time?

Ask the new adviserWhy
What would you change about the value?Tests whether they have engaged with the evidence
Which buyers were missed, and why might they care?Tests buyer strategy, not just list size
How will you approach buyers already contacted?Avoids repeating a failed approach
What would make you advise me to wait?Tests candour

What to check before you switch

  • Mandate termination and any notice period
  • Exclusivity — whether it has ended
  • Protected buyers and tail clauses — who is covered, and for how long
  • Previous introductions and who 'owns' those buyer relationships
  • Any unresolved fees
  • The buyer feedback you are entitled to see

This is not legal advice. Your solicitor can confirm the position under your agreement. At Offsell, any buyer that may still be protected is excluded from our search until the position is clear.

What should you do next?

  1. 01Locate your engagement letter and note the end date, notice and tail terms.
  2. 02List buyers you know were approached or introduced.
  3. 03Ask any new adviser for a written explanation of what changes this time.

Find out why before you simply try again.

We don't list businesses. We find buyers.

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