You’ve completed your training. You’ve talked to a few business owners. Maybe you even have your first seller signed up. But now what?
Closing your first deal as a business broker is an incredible milestone — and it all comes down to following a clear, professional process.
This checklist will walk you through everything you need to do to successfully close your first deal and build trust from the very beginning.
And remember: if you’re helping someone sell, they can list their business for free at BizBrokerPlus.com
The 10-Step Checklist to Close Your First Deal
1. Get a Signed Listing Agreement
This protects you and outlines your commission. Don’t skip it.
🛠 Need help? Use the listing templates and forms inside your Legacy Broker Academy portal.
2. Create a Clear, Professional Listing
A strong listing attracts serious buyers. Make sure to include:
Asking price
Gross revenue & cash flow
FF&E and inventory
High-quality photos
You can post it instantly (and for free) at BizBrokerPlus.com
3. Prequalify Buyers
Not every buyer is serious. Ask:
Have you bought a business before?
Are you pre-approved for financing?
What’s your ideal timeline?
4. Use an NDA Early
Protect your client’s confidentiality. Don’t release the business name or location until the NDA is signed.
5. Share the Confidential Info Packet
Once the NDA is signed, send your business summary or CIM (Confidential Information Memorandum). This should include:
Business overview
Financials
Growth opportunities
Reason for selling
6. Schedule a Buyer-Seller Call or Meeting
Let both parties connect and ask questions. Be the bridge — your role is to guide and protect both sides.
7. Help Negotiate the Deal
Prepare an LOI (Letter of Intent) or assist the buyer in drafting one. Make sure key terms are clear:
Purchase price
Deal structure (cash, seller financing, etc.)
Timeline
Contingencies
8. Navigate Due Diligence
Support your seller in providing documents and being transparent. Use a checklist to keep everything organized and on schedule.
9. Coordinate With the Buyer’s Team
Buyers often bring in attorneys, accountants, and lenders. Stay involved to prevent miscommunication and keep things moving.
10. Get to the Finish Line
Celebrate — but don’t disappear! Help with the final signatures, transfer of assets, and any training or transition period.
Final Tip: Stay Professional
One closed deal builds the foundation for your reputation. Take notes, follow up often, and over-communicate.
Ready to Get Your First Deal?
Start by helping someone list their business — it’s completely free at BizBrokerPlus.com.
You can also explore active listings at bizbrokerplus.com/active-listings to learn how real brokers structure their deals.
You got this.
Join The Discussion