Optimizing Business Exits
Selling a Real Estate Brokers Business
For the right sellers, the business-for-sale marketplace is a friendly environment for real estate brokers business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a real estate brokers business sale works.
To sell a real estate brokers business now, you need to apply the right combination of preparation, strategy and common sense.
Preparing for What's Next
The decision to sell your real estate brokers business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your real estate brokers business. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Dealing with Buyers
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood real estate brokers business sellers with questions and requests, often to the point of becoming a nuisance. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a real estate brokers business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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