Lisa Lloyd, sales manager for LINK Bay of Plenty, Hawke’s Bay and Wellington, is no stranger to the world of business sales.
Her career in business broking began in 2013 and over the years she has built a reputation for professionalism, insight and commitment to excellence. As a leader within LINK, Lisa drives performance and fosters the culture of collaboration and support for which LINK’s Bay of Plenty office is so well known.
What does a business broker do?
A business broker is a professional with specialised training who assists people in buying and selling businesses. It is a role that requires a balance of technical knowledge, interpersonal skill and strategic thinking. Brokers guide clients through the entire sales process – from value appraisal to settlement – ensuring that each transaction is handled with care and confidentiality.
Managing the business sale process
The process begins with a detailed appraisal to determine a fair market value for the business. This involves analysing financial statements, assessing stock and assets, reviewing market trends and calculating future maintainable earnings.
Once a business value has been established the broker works with the vendor to complete an authority to act, which formalises the listing.
From there, the marketing process begins – tailored campaigns are launched through a variety of platforms to attract qualified buyers while protecting the identity of the business.
A key part of the broker’s role is negotiating the sale. Acting as a mediator, the broker manages price discussions, terms and conditions between both parties.
Once a buyer is found, the broker facilitates the drafting of a sale and purchase agreement, often working alongside solicitors and accountants to ensure accuracy and legal compliance. They also co-ordinate due diligence, ensuring timelines are met and that both parties are fully informed throughout the process. From initial enquiry through to handover, the broker plays a key role in keeping the deal on track.
Skills and attributes for success
Success in business broking requires a blend of technical and personal attributes. While financial literacy and an understanding of profit and loss statements are important, many of the technical skills can be learned with time and support.
A background in business, accounting, finance, or real estate is certainly advantageous, but not essential. More importantly, effective brokers are honest, trustworthy and diligent. They communicate clearly, solve problems creatively and have the resilience to manage deals that often take several months to complete.
Building relationships is also vital – a strong network of buyers, sellers and professional advisers is a major asset in this industry.
How to get started
To enter the profession in New Zealand, you must complete the Level Four Certificate in Real Estate (Salesperson), a qualification available through providers such as the Open Polytechnic, Toi Ohomai, Unitec and Skills Ignite. Once qualified and licensed, you can begin your journey as a business broker.
Why choose business broking as a career?
The career offers both financial and personal rewards. Brokers earn commission on each transaction, with significant potential when dealing with medium to large businesses.
It is also a role that brings professional satisfaction – helping someone retire or assisting a buyer in acquiring their dream business are outcomes that matter deeply. The variety of businesses with which you will engage ensures the work remains dynamic and intellectually engaging.
The role offers lifestyle benefits and flexibility with a strong decade ahead as a wave of baby boomers prepare to sell up for retirement, which creates consistent demand. With limited competition in this specialised sector of real estate, the future looks promising.
Why LINK Bay of Plenty?
At LINK Bay of Plenty, our culture is one of support and camaraderie. Our office has won awards for best culture nearly every year for the past decade. We share knowledge, support each other’s deals and celebrate our collective success. Unlike many firms, LINK offers the backing of fulltime, noncompeting sales managers and outstanding systems such as ValuLINK, which streamline value appraisals and marketing processes.
Ready to take the next step?
If you are seeking a new challenge in a rewarding and fast paced field, I encourage you to consider business broking. Your future in business sales could begin today.
