What percentage do business brokers take?

The most common range is 10% to 15% of the sale price for businesses selling between $100,000 and $1 million. Fees are negotiable, and larger deals often pay a lower percentage on the amount above $1 million.

Who pays the business broker, the buyer or the seller?

Usually the seller, as a success fee paid at closing out of the sale proceeds. Buyers who hire their own broker typically pay that broker separately.

Is it legal to sell my business without a broker?

Yes. There's no requirement to use a broker. You will still need properly drafted sale documents, so hire a lawyer who handles business sales.

How to Sell Your Business Without a Broker (and What Brokers Charge)

What business brokers charge

Business brokers are paid like real estate agents: a commission, called a success fee, paid at closing. According to BizBuySell:

Sale price	Typical broker fee
Under $100,000	Often a flat fee, for example $10,000–$15,000
$100,000 to $1 million	10–15% of the sale price, the most common range
Over $1 million	Negotiable, for example 10% on the first $1 million and 8% above

The seller usually pays. On a $600,000 sale, a 10% fee is $60,000, which is why many owners ask whether they can do it themselves.

When selling without a broker makes sense

Selling on your own works best when the hard part, finding a buyer, is already done:

An employee or manager wants to buy the business.
A family member is taking over.
A competitor, supplier or customer has already approached you.
A private equity firm or other acquirer has made contact.

It’s harder when you need to find a buyer. A broker brings a list of qualified buyers, markets the business confidentially and screens people who aren’t serious. That search is what most of the fee pays for.

The honest trade-offs

	Selling with a broker	Selling on your own
Cost	10–15% success fee (typical)	Legal and accounting fees only
Finding buyers	Broker’s network and marketing	Your own contacts and outreach
Confidentiality	Broker shields your identity early on	You manage NDAs and who knows
Your time	Broker handles inquiries and screening	You handle every call and visit
Negotiation	A buffer between you and the buyer	Direct, which can get personal

How to sell your business yourself

Get your financials in order. Three years of clean profit-and-loss statements, balance sheets and tax returns.
Set a realistic price. Use earnings multiples for your industry, and consider a formal valuation if the buyer is family or a partner.
Use a non-disclosure agreement. Don’t share customer names, financials or employee details until a buyer signs one.
Check that the buyer can pay. Ask for proof of funds or a lender’s pre-qualification. Many small business buyers use SBA-backed loans, which have their own equity and seller-financing rules.
Negotiate a letter of intent. Agree on price, structure (cash, seller financing, earnout) and timeline before you invest in due diligence.
Hire a lawyer and a CPA. You need them with or without a broker: the lawyer for the purchase agreement, the CPA for tax structure.
Plan the handover. Agree in writing how long you’ll stay on and what you’ll do.

A middle path

Some owners hire a broker or M&A advisor for only part of the job, such as a valuation, preparing the sale documents or negotiating, for a flat or hourly fee. If a buyer has already approached you, this can give you professional help on price and terms without paying a full commission.