Yes, the brokerage’s commission is negotiable prior to signing the listing form. Commission rates for business sales in New Zealand are between 6.5% and 9.5% for businesses with a sale price under about $2M. Above $2M, the commission rate will be lower. Depending on the value of your business, the brokerage may offer a stepped commission structure (e.g., 9% on the first $2M, then 7% thereafter).
Remember that the brokerage’s fee is success-based: you only pay a commission if they sell some or all of the business.
The commission rate shouldn’t be the biggest factor in selecting a broker, but it is certainly a significant consideration for many vendors. Ensure you shop around; get listing proposals from 3 to 5 different brokerages (depending on who services your area). You can counter (i.e., negotiate) on any of the listing terms, but there is a caution: if you make the deal less appealing for the broker to sell your business, they will likely put less effort into your listing. Non-standard listing terms and reduced commissions are key factors that make the sale of your business less appealing to a broker. In addition, keep in mind that any changes to the standard listing agreement need to be approved by the management of the brokerage, not just the broker.