How do I find a reputable business broker in Canada?

To find a reputable business broker in Canada, start with referrals from your accountant or corporate lawyer. Check the broker's credentials, such as the Certified Business Intermediary (CBI) designation, and treat them as a filter, not a verdict. In Ontario, confirm the broker is registered with the Real Estate Council of Ontario (RECO). Then ask for references from recent sales before you sign an engagement agreement.

Start with professional referrals

Accountants and corporate lawyers see how business sales actually close. A broker they have worked with on completed deals is a better starting point than a cold search. Ask them directly. If they hesitate, or list several names without a clear recommendation, that tells you something too.

Check credentials and memberships

The International Business Brokers Association (IBBA) awards the Certified Business Intermediary (CBI) designation to qualifying business brokers (Your Guide to the Business Brokerage Profession, IBBA, p. 19). The Association of Business Brokers in Canada (IBBA Canada) has a Find a Business Broker search. Membership and designations show training and a commitment to professional standards. They don't guarantee results, so treat them as a filter, not a verdict. A broker without them isn't a red flag on its own.

Know the rules in your province

Ontario: the Trust in Real Estate Services Act, 2002 (TRESA) defines "real estate" to include businesses, and no one may trade in real estate unless they are registered under the Act (s. 1(1) and s. 4(1)). The Act was called the Real Estate and Business Brokers Act, 2002 (REBBA) until December 1, 2023 (RECO). Some trades are exempt, including those by people registered under the Securities Act acting as part of their securities business (s. 5(1)). If you are selling in Ontario, ask the broker for their RECO registration and check it with RECO.

Other provinces: the rules differ. Ask the broker which licence or registration, if any, applies to your sale, especially if it includes real estate or a lease, and confirm it with the provincial regulator.

Browse brokers by province

You can compare business brokers and M&A advisors who serve your region in our directory:

• Business brokers and M&A advisors in Ontario →
• Business brokers and M&A advisors in British Columbia →
• Business brokers and M&A advisors in Quebec →
• Business brokers and M&A advisors in Alberta →
• Business brokers and M&A advisors in Atlantic Canada →

Hard stop in Ontario

If you are selling an Ontario business and the broker can't show RECO registration, or name the exemption under the Act that they rely on, don't engage them. Registration is a legal requirement, not a preference.

Red flags

• Refusing to give client references or discuss recently closed transactions
• Vague answers about the commission, minimum fee or any upfront fees
• Pressure to sign an exclusive listing agreement before you have met anyone else
• Little familiarity with your industry or your deal size

Questions to ask before you sign

Meet more than one broker so you can compare fees and approaches. Ask each one:

• What is your commission, is there a minimum fee, and is any of it negotiable for a deal my size?
• How many businesses like mine have you sold recently?
• Can I speak to several sellers whose businesses you sold recently?
• How do you value a business and prepare it for market?
• How do you qualify buyers, and how long do your sales usually take to close?
• Where will you market the business, and how do you protect confidentiality?

For what brokers typically charge, see our guide to M&A advisor and broker fee structures.

Sources

• International Business Brokers Association (IBBA). Your Guide to the Business Brokerage Profession. 2021 (PDF dated January 2021). Page 19 cited (PDF page 21). https://www.ibba.org/wp-content/uploads/2021/01/ibba-guide-business-brokerage-profession.pdf
• Association of Business Brokers in Canada (IBBA Canada). Find a Business Broker. Accessed 2026-09-26. https://ibbacanada.org/find-a-broker/
• Government of Ontario. Trust in Real Estate Services Act, 2002, S.O. 2002, c. 30, Sched. C, ss. 1(1), 4(1), 5(1). e-Laws, current to 2026-09-23. https://www.ontario.ca/laws/statute/02r30
• Real Estate Council of Ontario (RECO). Legislation RECO administers. Accessed 2026-09-26. https://www.reco.on.ca/about/what-we-do/legislation-reco-administers

This article is for informational purposes only and does not constitute financial, legal, or business advice. Every business sale is different. Before making decisions about valuation, pricing, or engaging an advisor, consult a qualified professional familiar with your specific situation.