Differences from Real Estate Brokerage

Despite the licensing similarity, selling a business is more complex than selling a house because it involves assets other than real estate. A business sale typically includes personal property (inventory, machinery, office equipment) and intangible assets like Goodwill. Goodwill is the value of the business’s reputation, loyal customer base, and established name; it explains why a popular restaurant is worth more than just the cost of its stoves and tables. Consequently, the value of the business enterprise (its "going-concern value") may be significantly different from the value of the real estate itself. Additionally, while the residential housing market is local, the market for business enterprises is often much wider in geographic scope; a profitable manufacturing plant or franchise might attract buyers from across the state or even the country.