1,844,301
I've seen a few people so far buy other people's business & it seems to be a total bust. Who makes out better?
Can you monitize your data base & is it REALLY worth money? A collection of names is not business.
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Keith Whited
Alexandria, VA
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
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Annette Thor
Westport, CT
1,432,649
No, I am not to the point to think about that yet. If I had to stop work I would probably do referals. I think when you have a business built on who you are it is hard to sell it. The best transistion would probably be long term, bring on an associated and have them do much of the grunt work, train them, collect your share for a while, but gradually fade out.
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Keith Whited
Alexandria, VA
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
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Gene Riemenschneider
Brentwood, CA
7,836,419
I built a practice to sell but decided not to sell it. I just referred everybody to associates.
Previously, I have sold our property management company, our insurance agency, our real estate franchise operations, our cemetery operations as well as several other businesses.
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Diana Dahlberg
Pleasant Prairie, WI
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Bob Crane
Stevens Point, WI
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Joan Cox
Denver, CO
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Paul S. Henderson, REA...
Tacoma, WA
6,393,609
Successional planning, at the top of our list this year, time to move on to something new in the next decade.
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Diana Dahlberg
Pleasant Prairie, WI
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Roy Kelley
Gaithersburg, MD
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Paul S. Henderson, REA...
Tacoma, WA
613,494
Yes, I did sell an "Exclusive Buyer Agency office"...which never listed property, so had no listings.
Realistically, a real estate business is typically valued for the the listings it holds or what it has in the pipeline waiting to close.
Agents come and go, goodwill can disappear quickly.
Eve
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Keith Whited
Alexandria, VA
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
61,641
No, I have really just begun. I love it. I cannot imagine retiring from doing something that you love to do. Maybe I would sell off 49% of my real estate practice and still work part time if I ever choose to retire.
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Diana Dahlberg
Pleasant Prairie, WI
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Frank Rubi
Metairie, LA
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Paul S. Henderson, REA...
Tacoma, WA
4,572,283
Not yet.
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Diana Dahlberg
Pleasant Prairie, WI
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Joan Cox
Denver, CO
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Paul S. Henderson, REA...
Tacoma, WA
12,746
Yes! I sold my database and branding for 3 x average net profit based on an average of the two most recent year's sales.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
764,882
Like Roy Kelley I will not retire but just refer, I am also building a couple additional real estate programs that will boost that referral income
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
557,375
No, but I've built other brick and mortar businesses that I sold.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
293,277
excellent question. I am sure many Agent to do have a scalable business but that's OK. Maybe your database is useful to the investor but only if it is loaded with current and relevant personal information.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
3,545,649
I have no plans to sell my business. I am increasingly referring clients instead.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
438,218
yes, I picked a name years ago that followed/represented the city I live in and trademarked it. I have been offered good money for my company name.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
1,574,666
I don't plan on retiring...heck I am already in Florida!
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
969,888
Paul, I have sold other business interest. I will wait on my children in my brokerage concern to decide if they would like to continue on or sell.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
3,986,258
Yes! i have already been approached!
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
212,755
So few Realtors do and it's a shame, for the few that do, it is a great payout when you do decide to retire. I know one person that got almost half a million for her database and farm area.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
5,583,278
I see the value of my business in being continued by my daughter... same last name....she could easily "go it alone" .....and Lorraine would need to go her separate way....there are many options, including continuing as they are, but they'll need to figure out the marketing aspect....that's TIME AND MONEY...
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
5,868,554
I think many REALTORS would like my database, and could be worth some money when I retire.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
1,466,207
Paul S. Henderson, Realtor, Tacoma Washington I've sold a lot of businesses, but never a real estate company or an agent's real estate practice. There isn't much to purchase except for a customer base which is pretty subjective. However, property management companies would have value because of their existing client base.
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Diana Dahlberg
Pleasant Prairie, WI
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Paul S. Henderson, REA...
Tacoma, WA
679,404
I have thought about this ... but at present have no plans for full retirement. Probably will do referrals ... seems like a good way to stay in the business and handle the clients I want to handle in the days to come (not there yet).
1,712,676
Absolutely and we are training the people who will be buying it.
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Diana Dahlberg
Pleasant Prairie, WI
5,772,575
Paul,
When we had our commercial real estate practice, we were approached by someone who wanted to buy it. We opted out, and no regrets.
What does one has to sell? A book of business, no guarantee that your clients will want to work with the new person.
That is why we create brands. I have also sited our Napa client's brand which we created for her with a website that produced 4 closed deals a quarter in the $800,000 range average sale. She sold the name and the site for mid 6 figures. Sadly, the guy did not keep up the marketing, but she is thriving happily ever after...A
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Paul S. Henderson, REA...
Tacoma, WA
4,319,419
Paul S. Henderson, Realtor, Tacoma Washington - that's the next step for me. Nothing planned as yet, to retire, though...lol!
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Paul S. Henderson, REA...
Tacoma, WA
292,685
This is a very good question and am going to write something about branding your business but for now will say I bought two web names that I am thinking I might be able to sell in the future and they are .... I'll hold off on that for awhile
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Paul S. Henderson, REA...
Tacoma, WA
4,800,082
3,071,489
166,435
I have been told that a one man/woman shop is very difficult to sell. You might have a client database with some value but the thing that is hard to transfer is you. What we tend to have is a job rather than a business. In a job the number of hours you have are limited by the clock. In a business the number of hours you have is leveraged by employees.
153,167
Have You Sold Yours?
If so.....tell us how you did it. I'd love to know, as I'm sure others would as well.
Paul, I look forward to the reason you ask this question. Is it to find out HOW to sell your real estate business, or to SHARE how you did it.
I thought it was an interesting subject, but would love to more about it.