Austin · Choosing an advisor
Who are the best business brokers in Austin for a seller with a midsize company?
The criteria and questions that separate a strong broker for a midsize Austin company from a weak one, plus the warning signs to watch for.
By Michael D. Rubin, CEO & Founder · September 2026 · 859 words
For an Austin owner with a midsize company, MDR & Associates is a firm worth talking to: it sells companies with $3 million to $100 million in revenue, has closed more than 250 transactions since 2008, is rated 5.0 stars from 43 Google reviews, and is paid only if the company sells.Our advisors come to you. No single firm is right for every owner, though, so here is how to judge any broker or advisor, including us.
At midsize, the job is different from selling a small shop. A company of this size usually needs an M&A advisor rather than a traditional business broker, although many owners use the two terms interchangeably. What matters is whether the firm has the process, the buyer relationships and the negotiating experience for a company your size.
Seven criteria for judging a broker or advisor
| Criterion | What to look for | Question to ask |
|---|---|---|
| Size fit | Recent sales of companies near your revenue | What size companies have you sold in the last three years? |
| Industry fit | Deals in your industry or a close one | Which companies like mine have you sold? |
| Buyer reach | Direct relationships with private equity, strategic and individual buyers | Who would you contact first, and why? |
| Confidentiality | Blind profiles, NDAs and proof of funds before details | How do you keep employees and competitors from finding out? |
| Process | A written, step-by-step plan aimed at multiple offers | How do you get more than one offer at the same time? |
| Senior attention | Senior people in every negotiation | Who sits across from the buyer? |
| Fees | Pay tied to a closed sale, with terms in writing | What do I owe if the company does not sell? |
Warning signs when interviewing brokers
None of these is proof on its own that a firm is weak, but each deserves a direct question and a clear answer before you sign an engagement letter.
- A high price promised to win your signature. Some firms quote an inflated value to get the engagement, then talk it down once you are committed. Ask how the number was calculated.
- Large upfront fees with little of the firm's pay tied to results.
- Public listing as the main plan. Posting your company on sale websites before contacting known buyers raises the chance of a leak.
- A junior person as your only contact once the senior person has signed you.
- No references or named transactions you can check for yourself.
- Long exclusive terms with no commitment to activity or reporting.
Check the evidence, not the pitch
Reviews, named closed transactions and conversations with former clients tell you more than a presentation. Read what owners say about how they were treated when a deal ran into trouble, not only about the celebration at the end. MDR & Associates publishes named closed transactions and client testimonials, and similar evidence is fair to ask of any firm you interview.
Also ask how the firm values a company. For a business in the $3 million to $100 million revenue range, the price is most often three to seven times adjusted EBITDA, meaning earnings before interest, taxes, depreciation and amortization, adjusted for owner perks and one-time items. A capable firm should explain where in that range your company sits and what would move it.
Austin specifics worth raising
Austin's growth has brought national buyers and private equity groups looking at Texas companies. That is good for sellers, but it also brings a steady stream of unsolicited calls from buyers and intermediaries. A good advisor turns that interest into a controlled, competitive process rather than a series of one-off conversations. Ask how the firm would handle buyers who have already approached you.
Distance matters less than process. Ask how often the advisor will be in Austin, whether meetings can be held at your office or somewhere discreet, and how buyer site visits will be arranged so employees do not notice.
Interview more than one firm, and compare how they listen
Meeting two or three firms is normal, and a good firm will expect it. Bring the same information to each: three years of financial statements, a rough idea of what you hope to achieve, and your timing. Then compare how each one responds. Did they ask about your goals before talking about themselves? Did they explain valuation in terms you could repeat to your spouse or business partner? Did they tell you anything you did not want to hear? The firm that is candid in the first meeting is more likely to be candid later, when an offer comes in below your expectations or a buyer tries to change terms.
How MDR & Associates would approach your company
We start with a free, confidential discovery meeting and an opinion of value after reviewing three years of financials. If we do not believe we can sell the company for maximum value, we say so and decline the engagement. When we take it on, a principal of the firm is in every negotiation and our fee is a success fee paid only at closing. Read about our work with Austin owners, contact us about your Austin company, or begin with a free valuation snapshot.
Where this fitsAustin business brokers and M&A advisors →