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Are you thinking of selling your Agency or Rent Roll? A lot of Agents are making the call that I have affectionately labeled 'Get Me Out of Here'.
It takes a fully planned and well-structured approach to get your Ducks in a Row to really make it happen and attain an appropriate price.
Here are 6 key points for you to consider.
Exit strategy, what are your Capital Gains Tax implications.
Do you have a Company or Partnership that needs to be finalised.
Do you need to consult your Financier to complete you loan obligations and what impact will that have on other borrowings you may have against the Business.
Cars, Investments, personal borrowings, and does an early payout carry a financial impact for you.
Choose Wisely. Select a Solicitor that has dealt with a significant number of Real Estate Agency and Rent Roll transactions.
They will also be involved with any potential finalisation of Partnerships of Company Structures.
Franchise or Co-Operative Marketing Groups.
Fully understand your obligations under any existing agreement around notice of exiting and any financial obligations should you terminate an agreement early.
Agency and Rent Roll Brokers.
Talk it over with a Broker and fully discuss the process, time lines, cost involved, and who will potentially buy it.
Do a Real Hard Soul Search.
Fully review your Business, take a look in the mirror and ask yourself would I buy it?
Look closely at all parts of the Business, the Rent Roll, Sales Agency, Plant and Equipment, Employees a lot to consider.
I trust that has been of some assistance to you and I will discuss what buyers are looking for in a business in an upcoming video.