Exit Planning Tips
Selling a Homes and Residential Real Estate Business
There's a right way and a wrong way to sell a homes and residential real estate business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a homes and residential real estate business.
Negotiation 101
There's no room for error when you negotiate the sale ofa homes and residential real estate business. More often than not, the person with the most knowledge will come out on top in a homes and residential real estate business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Be prepared to experience everything from elation to remorse during the sale of your business. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Handling Unexpected Outcomes
If you're smart, you entered your homes and residential real estate business with a set of assumptions about what it would achieve. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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