Exit Planning Tips
Selling a Housing Agencies Business
Many business leaders say that now isn't the time to try to sell a housing agencies business. But in reality, now may be the perfect time to sell a housing agencies business.
Selling a housing agencies business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Market timing is a constantly moving target. So if you're waiting for the perfect market conditions to sell your housing agencies business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your housing agencies business to today's buyers.
There is a lot of work that needs to be done before you're ready to sell your housing agencies business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your housing agencies business until the prospect has been qualified as a serious buyer.
It pays to invest in first-rate legal counsel when you sell a housing agencies business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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