succession planning

Bob Walters Interview - Tips for a Successful Sale

Recently I sold some of Bob Walters rent roll. It was not a full sale, but a partial sale with a strategy that Bob had put in place in order to execute his succession plan.

Bob shares in my latest 'MC Listing Series' video, his experience throughout the sale, his tips for improving commissions & fees, how not to cave to competitive pressure on management commissions, demonstrating your worth to existing & prospective landlords and also looking internally for your buyer and how to maximise your sale price.

Succession Planning

I've sold many real estate agencies and rent rolls, however when I sit down with a prospective vendor for the first time, I ask " why do you want to sell? ". Here are some of the responses I get;

1. I'm only here a few days a week and when I am here all I do is manage staff issues, problems or questions

2. I thought my children would buy the business, but they can't afford it now or aren't interested in running and owning it

3. I'm not passionate about it anymore and we're not doing as many sales as we used to do