In most cases, there will be a single business broker involved in the business sale transaction. Business Brokers
act as intermediaries. Personally, we only take listings so we believe it's going to be a win-win for both the buyer and the seller. We try to ask all the questions upfront and disclose everything to the prospective buyer.
However, we assume there are situations where not everything is known about a business until after closing. Due diligence is the period of discovery that you want to find out if there is anything to which you should be concerned. Especially if you are a first time business buyer, you may want a second set of eyes, or a mentor, to help you evaluate opportunities, guide you through the due diligence, and to ask the questions that not everyone may feel comfortable asking, or answering. While a Buyer's Broker may likely work on a retainer, or a fee to the buyer, it may help prevent costly mistakes for the novice investor.