We often get the question from those wishing to become a business broker: Do I need to have a license? And the answer is yes and no. First, there is no such thing as a "Business Broker License". However many States and Provinces do require a real estate license to facilitate the selling of a business. Below is a list of States and Provinces that do require a Business Intermediary to obtain a real estate license.
States that require a real estate license to be a business broker include:
Washington, Oregon, California, Idaho, Utah, Arizona, Wyoming, Colorado, Nebraska, South Dakota, Minnesota, Wisconsin, Illinois, Michigan, Georgia, and Florida.
Provinces in Canada that require a real estate license to become a broker include:
British Columbia, Ontario, New Brunswick, and Nova Scotia
Although there is not a state sanctioned business broker license, there are many certifications that brokers can receive to give them creditability in the industry. Once such certification is VR's Master Business Intermediary
designation. Below is a synopsis of what it entails:
VR Business Brokers continues it's tradition of advanced learning and supports you to earn the prestigious MBI designation. When you become a Master Business Intermediary you have been acknowledged as one of the best in our profession. You have complete an extensive educational curriculum and combined your book knowledge with practical transactional success.
The MBI Academy graduate has a commitment to the client, and their best interests. They abide by a strict moral and ethical code of conduct that is their compass for cusses. VR developed the proprietary Master Business Intermediary Academy to support the further development of the entire organization, and set a standard of social consciousness that is envied by the industry.
When you enroll to earn your MBI with VR you have set a course towards long term success.
-Peter King, VR Business Broker CEO