These are the all imprtant designations that you should not only look for, but EXPECT that the broker who represents you has completed.
ABI = Accredited Business Intermediary. This is an entry level designation provided by the ABBA = American Business Brokers Association. Total cost approximately $1,000. Total time approximately 4 intense training days.
CBI = Certified Business Intermediary. This is the most recognized business brokerage designation provided by the IBBA = International Business Brokers Association. Total cost approximately $7,000 and then $2000 per year. Total time approximately 2 years/two conferences plus ongoing continuing education.
M&AMI = Merger and Acquisition Master Intermediary. This is the most prestigious designation provided by the M&A Source which is a sister organization to the IBBA. In addition to the costs and requirements of the CBI designation, M&AMI requires additional 300 and 400 level middle market courses and completion of a requisite number of transactions over $1,000,000.00US. Application fee is $250 and annual dues are approximately $500.00.
Do you really want a broker who is either too cheap (or can’t afford) or not smart enough to realize that to represent one of your most valuable assets (your business) for sale that they need to invest their own […]