Have you ever experienced the Baader-Meinhof phenomenon? You know, when something keeps popping up that you never noticed before? I’m reminded of it because it strikes me as odd whenever we get the same question more than once, especially in a short period of time, given that our members’ questions are usually so varied. One such question that keeps popping up is how to evaluate a business portfolio or book of business. Sometimes it’s a matter of impending retirement, an unexpected death, consideration of a merger, or someone looking to buy a business. Since this question is a recurring one, let’s look at some resources.
Christophe BENOIT/flickr/2015
REALTOR®Mag has created a Sell Your Business Tool Kit that addresses multiple aspects of the process. There are sections on preparation, valuation, acquisitions and mergers, types of buyers, and getting it sold. REALTOR®Mag has also done articles on the topic such as How to Sell Your Client List and Your Book of Business is Worth Money.
The NAR Library has prepared the Field Guide to Appraisal of Real Estate Offices & Selling Your Book of Business. This field guide provides links to resources, including articles and tool kits to assist in appraising a real estate office, selling a book of business, selling a website, and succession planning. It also points to web sources from the U.S. Small Business Administration on closing down your business and the Housing and Real Estate Guide for those just getting started.
Have you recently evaluated, bought or sold your book of business? Do you have any tips for your colleagues?
Keep in touch and informed: Follow Information Services on Twitter (@asknar) and Facebook (NAR Information Services). Contact us next time you have a research project or question toll-free at 800.874.6500, informationservices@realtors.org, Skype narinfoservices, or text AskNAR to 66746.
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