Selling a Company Without Commissions in Italy: Dedicated Marketplace or Traditional Broker?

When you decide to sell a business, one of the first questions is also one of the most expensive: how much of the proceeds will end up in commissions? Among the channels for selling a company in Italy, the difference is not just in service, but in the economic model — and for a low-value transaction, that model can weigh more than anything else.

This guide compares the two main paths for those looking to sell today: dedicated marketplaces (which work on a subscription basis, without a percentage on the sale) and traditional brokers (who work on a mandate and a success fee). It also explains when one makes sense and when the other does. (For a comparison with generalist portals like Subito or Immobiliare, see the guide on where to sell your company in Italy; to understand why this market segment is special, see the guide to micro and small M&A.)

Two Opposing Economic Models

The fundamental distinction is simple and determines almost everything else.

• Dedicated Marketplace. You pay to publish and manage the sale — a subscription or a package of a few tens of euros — and you do not give up a percentage of the sale price. The value of the sale remains yours. You manage the negotiation independently, using the platform's tools.
• Traditional Broker. You pay (almost nothing) upfront, but upon completion of the transaction, you pay a success fee on the value of the sale. In return, a person follows the deal for you, usually under a time-limited and often exclusive mandate.

The first model shifts the cost upstream and keeps it low and fixed; the second shifts it downstream and links it to the final price. For a large transaction, the broker's commission remunerates complex work. For a small transaction, that same percentage often becomes the heaviest cost item of the entire sale.

The Traditional Broker: When the Commission is Worth It

Business brokerage brokers (for example, historical entities like Cogefim, active since 1982, and many others) offer comprehensive support: valuation, appraisals, site inspections, buyer selection, and assistance up to the notary deed. For important or complex transactions, or if you simply want to delegate everything to a professional, it's a serious choice.

Points to clarify before signing, as they are rarely published on their websites:

• The success fee. Market practices typically place it between 2% and 5% of the sale price, and it must be clarified who pays it: in brokerage (art. 1754 c.c.) it is often due from both parties, seller and buyer.
• The mandate. Frequently time-limited and exclusive: for the duration of the assignment, you cannot use other channels.
• The thresholds. Many more structured M&A advisors set a minimum transaction value below which they do not take assignments, because the fee would not justify the work.

There's nothing inherently wrong with this: it's a model built for transactions of a certain size. The problem arises when it's applied to a small business, where commission, exclusivity, and little price transparency weigh proportionally much more.

The Dedicated Marketplace: Zero Commissions, But You Manage It

On the opposite front, dedicated business buying and selling marketplaces allow you to publish and sell without a percentage on the sale, with a contained entry cost. In return, the direction of the sale is more in your hands: you manage the listing and the negotiation, with the support of the platform's tools (and, where provided, professionals on request).

This model is designed precisely for micro and small M&A: the same needs as large transactions — valuation, confidentiality, qualified audience, orderly process — but at economic conditions sustainable for the value at stake.

Sherlok, Italian marketplace for SMEs and businesses

Sherlok is the Italian marketplace dedicated to micro and small M&A: SMEs, commercial activities, and income-generating properties. Subscription and credit model (seller plans from a few euros per month, free for buyers), without a success fee. In addition to the basics expected from a dedicated channel — confidential listing, anonymous profile, digital NDA, free valuation — its distinguishing features are:

• Active buyer side. Not just a bulletin board: buyers register and are verified for free and receive listing proposals in line with their criteria (sector, region) through matching and periodic newsletters. The listing does not remain passive; it is brought before relevant buyers.
• Business and property on the same axis. If you also sell the premises, the business and income-generating property live in the same listing.
• Double-sided verification. Not just seller and listing: the buyer can also be verified, and the seller can choose to show themselves only to verified buyers.
• Network of professionals without exclusivity. Sell independently or be guided by selected brokers, without an exclusive mandate.

Other dedicated marketplaces

Sherlok is not the only dedicated Italian marketplace: there are also other valid operators with a similar model — among the best known are B2Scout and Attività24, both with one-time publication and no commission on the sale, with confidentiality and verification tools; and CorporateScout, which instead adds a small introduction fee (approximately 0.3–0.9%) upon completion of the transaction. It's worth comparing them: for the same price and “zero commissions,” the difference is mainly made by how actively the platform works the buyer side and whether it also manages the property.

A separate discussion for international portals: global classifieds like BusinessesForSale.com and digital business marketplaces like Flippa (success fee around 10%) and Acquire.com (indicative success fee 6–8%). These are excellent tools, but for other markets: online businesses, SaaS, and in English. For a physical Italian business — a bar, a restaurant, a shop, an SME — a dedicated Italian channel is much more relevant.

Comparison Table

	Dedicated Marketplace	Traditional Broker
Initial Cost	Subscription/package (a few tens of € or a few €/month)	Generally low or none
Commission on Sale	None (except for exceptions with a small intro fee)	Success fee ~2–5%, often from both parties
Constraint	No exclusive mandate	Often time-limited and exclusive mandate
Who Manages Negotiation	You, with the platform's tools	The broker, on your behalf
Cost Transparency	Price known in advance	Often clarified only upon signing the mandate
Especially Suitable for	Micro and small M&A, low value	Large or complex transactions, full delegation

Note: conditions reflect what is publicly declared by platforms as of June 2026 and market practices for brokers; always verify updated terms with each operator.

How to Choose

• Low-value transaction (SME, business, micro-enterprise)? A dedicated marketplace is almost always more sensible: no commission on an already contained price, costs known in advance, no exclusivity.
• Large or complex transaction, and you want to delegate everything? A broker can be worth the commission — but get the percentage, who pays it, and the duration/exclusivity of the mandate in writing.
• Do you value confidentiality? Both worlds offer it; on marketplaces, verify that there is an anonymous profile, reserved price, and NDA before sharing data.
• Is an income-generating property involved? Look for a channel that manages both the business and the property together, instead of splitting the sale into two paths.

Whatever the path, the first step is to understand what your business is truly worth: start with a free valuation and then decide how and where to sell your company.

Frequently Asked Questions

Can a company be sold without paying commissions?

Yes. Dedicated business buying and selling marketplaces operate on a subscription or publication package basis and generally do not apply a commission on the sale price: you pay to publish and manage the listing, but the proceeds from the sale remain yours. Traditional brokers, on the other hand, work on a success fee based on the value of the transaction.

How much does a broker charge to sell a company?

Market practices typically place the success fee between 2% and 5% of the sale price, often due from both parties (seller and buyer). Exact percentages are rarely published and are clarified upon signing the mandate, so it is advisable to define them in writing in advance, along with the duration and any exclusivity.

Is a marketplace or a broker better for a small business?

For a low-value business, a dedicated marketplace is usually more convenient: a double-digit percentage of total cost (success fee, often from both parties) weighs heavily on a small transaction, while a subscription of a few tens of euros has a known and contained cost. A broker remains a solid choice for large or complex transactions, or when the entire process needs to be delegated.

What is Sherlok?

Sherlok is the Italian marketplace dedicated to micro and small M&A: buying and selling SMEs, commercial activities, and income-generating properties without commission on the sale, with free valuation, confidential negotiation, digital NDA, seller and buyer verification, and active buyer matching. It is designed for the market segment that traditional brokers and international portals serve less well.

Can I sell my company myself, without intermediaries?

Yes: on a dedicated marketplace, you can publish and manage the sale independently, maintaining confidentiality and using the platform's tools (valuation, anonymous listing, NDA, buyer verification). If at some point you prefer to be accompanied, you can rely on a network of professionals on request, without having to sign an exclusive mandate.