Are You Building a Valuable Asset?
In our final Real Estate Team Builder Tip from our 12 week Facebook LIVE series, we bring it all home and discuss how you start with the end in mind and build your business with a strong foundation and systems that will allow you to monetize your hard work by creating a saleable asset!
What are the components that will add value to your real estate business as you consider setting up your Exit Strategy?
- Comprehensive list of your tangible assets (equipment, furniture, hardware, software,etc)
- Other Assets
- Your current listings, properties under contract, renewable leases
- Your database and referral network with documentation of revenue generated
- A well-trained support and admin staff
- Excellent business systems and a procedures and operations manual
- Your websites, blogs, lead generation platforms and social media presence with historical conversion and closed transaction data
- Your existing agent base – however the unknown and risk for the potential buyer is retention of income-producing agents
- For broker-owners, other intangible but highly valuable assets include documented systems and procedures for accounting, marketing plans, onboarding and termination procedures, independent contractor agreements, etc.
- Team Real Estate Business Plan & Goals
- Your Vision, Purpose and Brand
- Marketing and Advertising
- Your Database & Referral System
- Listing and Farming System
- Buyer, Escrow and Transaction Management System
- Lead Generation and Follow-up Systems
- Internet and Social Media Marketing
- Financial, productivity, profitability reports and forecasts
The eventual buyer of your business will expect accurate contact information for each of your past clients, current leads and referral database. The basic information required is of course their names, addresses, phone, emails, and social media connections.
Your database is even more valuable when you have documented additional information including:
- How many transactions they have closed with you and the details of the properties
- Total number and value of referrals each individual has made to your business
- Price range of the referrals, and the dates that the referral was made
- Birthdays, anniversaries of clients
- Children’s names and birth days
- Other demographic and psychographic information (hobbies, interests, buying habits, vacation preferences, likes and dislikes, etc.)
- Detailed notes and correspondence, testimonials
In our Real Estate Team Builder Program, Module 6 is dedicated to this topic of Exit Strategy.
Module 6– Build an Asset and Create Your Exit Strategy
We conclude the Real Estate Team Builder training with this comprehensive module on how to build an asset (your team and overall real estate business) and design your exit strategy.
- Lesson 1: Exit Strategy Guide and Checklist
- Lesson 2: Team Business Plan and Key Business Metrics
- Lesson 3: Determining the Value of Your Business
- Lesson 4: Review of Exit Strategy and Buyout Options
- Lesson 5: Let’s Get to Work!
- Business Budget Template
- Real Estate Business Plan
- Profit & Loss Statement
- Marketing ROI Worksheet
- Balance Sheet
- Checklist for Sale of a Business
- Letter of Intent – Business Transaction
- Sample Agreement to Sell Business
- Bill of Sale with Quitclaim
- Exit Strategy Checklist
Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform.
Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.
Here is what you’ll receive:
- Online, On- Demand Real Estate Team Builder Training
- Lifetime Access to the Recorded Videos and Documents
- Complete Package of Documents, Admin Forms
- Real Estate Team Builder Procedures Manual
- 90 Day Onboarding & Agent Training Manual
- Team Project management, accountability, communication system