Be careful who you trust to sell your letting agency
SELLING YOUR LETTING AGENCY ?
BE CAREFUL WHO YOU TRUST.
Choosing the right broker will have a huge impact on the price that you achieve for your letting agency. Over the last few years, we have seen a number of new competitors spring up but we have retained our position as the market leader in the sector for many very good reasons including :
1. EXPERIENCE
We have been trading under the same ownership for 32 years and during this time we have completed the sale of over 600 letting agencies and estate agencies with a total value of well over one billion pounds. No one else comes anywhere close to this level of experience.
2. NO CONFLICTS OF INTEREST
Most of our competitors deal with both acquisitions and sales. We believe that this causes huge conflicts of interest because it is not possible to help a buyer to buy a business as cheaply as possible one week then try to persuade the same buyer to pay top dollar for another business a week later. This is why we only act for sellers.
3. COMPLIANCE
Under HMRC rules all business transfer agents must be registered for AML. Despite this several of our new competitors have not registered. As a consequence, HMRC could close them down at any time which would cause massive problems for their clients who are in the middle of a sale.
4. RESOURCES
Unlike several of my competitors, I am not a one man band. My team of 8 staff have together been with me for over 50 years. They know their jobs inside out and play a crucial role in ensuring that we have the time and resources to deal with every sale in a highly proactive way.
5. TECHNICAL KNOWLEDGE
After completing over 700 sales we have come across all the common problems many times before. If problems arise during your sale our unrivalled technical knowledge will mean that we have the best chance of resolving the problem so that your sale can proceed to a successful completion.
6. BREADTH OF EXPERIENCE
Prior to becoming a business sales broker Adam Walker was MD of Norwich Union Estate Agents – a major regional chain. After this was sold in 1992 he worked for many of the UK’s largest and most successful estate agents as management consultant and trainer. Many of our new competitors have no industry experience at all and others have held relatively junior positions with the corporate chains Adam’s deep knowledge and understanding of the property industry is completely unrivalled.
7. RELATIONSHIPS
Over the last 32 years, we have got to know our regular buyers well. They like dealing with us because they know that they can trust us to prepare accurate details and to run a fair marketing campaign for every business. We know which of them to trust and which of them to be wary of. The strength of these relationships play an important role in enabling us to achieve the best price and to achieve a smooth and trouble free sale.
8. NO SALE NO FEE
Most of our competitors charge a listing fee. Which reduces their incentive to achieve a sale. We work on a no sale no fee basis. The reason that we can do this is because we sell the vast majority of the businesses that we take on.
9. AN ACCURATE VALUATION
Unlike some of our competitors, we will never give you an inflated guide price to win your business then spend the next year trying to persuade you to reduce it. We sell nearly all our businesses within 6 months for within plus or minus 10% of the guide price
10. A COMPELLING INFORMATION PACK
The way in which your business is presented will have a huge impact on the price that is achieved. 32 years’ experience will ensure that your business is presented to buyers in the very best possible light.
11. A PROPER MARKETING CAMPAIGN
Unlike some of our competitors we will never try to persuade a seller to accept the first offer that comes in. We will nearly always run a proper marketing campaign over a period of 4 to 6 weeks so that all the approved buyers have a fair chance to compete for it so that we can prove that the best price has been achieved.
12. NO PRICE CHIPPING
The most common problem with private sales and sales agreed by our less experienced competitors is that the buyer offers a price that they never intend to pay then spends the next 3 months using lots of devious methods to reduce it. This doesn’t happen to us because the buyers know that we will call them out. They also know that if they keep using these tricks we will stop sending them businesses in the future which they cannot afford to risk.
You can only sell your business once so make sure that you do it right by instructing the UK’s number one specialist broker, Adam J Walker & Associates. For a valuation of your business without obligation or a general chat about the sales process call us now on +44 (0) 1923 904784 or email us at adam@adamjwalker.co.uk.
I look forward to hearing from you.