FREQUENTLY ASKED QUESTIONS
YOUR QUESTIONS ANSWERED
Have you got a question about how estate or letting agency sales work or about our services at Adam J Walker & Associates? Find the answers below.
Now is a very good time to sell a letting business. Prices have increased by more than 25% over the last 3 years and there are plenty of good buyers in the market.
Letting businesses are usually valued on a percentage of their turnover not their profit. The most valuable part of a letting business is the income from managed properties as this is the most secure revenue. Income from let only properties is valued at a much lower multiplier.
There is always a market for letting businesses, but sales businesses only achieve good prices for about 3 years in every housing market cycle. The market for sales businesses has been affected by Covid 19, and if possible you should wait for prices to recover before you sell.
Sales businesses are usually valued on a multiple of pre tax profit not on turnover. This is because it is harder to merge sales businesses than letting businesses.
There are 4 key things that we do to make sure that you get the best price. We will ensure that the sales prospectus shows the business in the best light. We will ensure that the business is offered to typically half a dozen qualified buyers, We will ensure that there is a fair competition to buy the business. Most importantly of all we will use our experience to get your sale through first time at the price that was originally agreed.
Length of sale varies. It usually takes anywhere from 3 to 6 months to find a buyer, and then to get the sale through to completion. However we once completed a sale in 4 days.
The only way to be sure that you achieve the best price is to have several buyers bidding against each other to buy the business. We can do this far better than the business owner can themselves. The second major issue is that we have the expertise to get the sale through first time. Most private sales fall through usually because of problems that could have been predicted at the outset.
There are many things that you can do in the months before you sell that will increase the value of your business considerably. Please find more information on how we can help you prepare to sell your business on our consultancy page.
The way that the numbers are presented can make a huge difference to the saleability and value of a business. We will spend a lot of time getting this right before launching your business onto the market.
In order to protect your confidentiality we will NEVER advertise your business anywhere. We work entirely from our extensive database of qualified buyers.
In addition to looking at the headline price, we will consider every other aspect of each offer. This includes payment terms, the arrangements for the premises and staff, the terms of the warranties and indemnities, the treatment of debtors and creditors, the amount of working capital required, the financing arrangements, and, most importantly of all, the reputation and past performance of the buyer. Very often our experience tells us that the highest offer is not the best offer.
We go to great lengths to protect your confidentiality. Details will only be sent to buyers on our database, and they will not even know which town or city your business is located, until they have signed a non-disclosure agreement. No one will be sent details until you give us your consent in writing.
Choosing a broker who specialises in the sale of estate agency and letting businesses is critical to securing a proper deal. Choosing a general broker who will not have the right buyers or the expertise to secure the completion of the deal will leave you with wasted time and lost money. You need someone who has dealt with hundreds of previous sales, not a newcomer. You need a company with the staffing resources to do the job properly instead of a one man band. You need someone who understands how to run an estate agency and lettings business and how to increase the profit, not just someone who sells them. We can do all of these things for you which is why we have been so successful. To find out for visit the selling page.
We have 8 staff members in total, including Adam. Here at Adam J Walker, we have the time and resources to do the job properly and efficiently.
We opened in November of 1992, over 27 years.
Despite 27 years’ experience we cannot know this. If our recommended guide price is enough to allow you to move on to the next stage in your life, then you should sell. If it is not enough, then we can work with you to prepare a business plan and consult you on how to achieve a higher value for your business.
You have worked endlessly for years to build your business, deciding when to sell can be an enormous decision.
You should complete the sentence “I will sell my business, and then I will……”
When you have a compelling answer to end the sentence, then the time is right for you to sell.
NOT READY TO
- HAPPY CLIENTS -
- HAPPY CLIENTS -
“Our journey to completion of the sale of our business has been a long and sometimes fraught experience as we navigated the obstacles of talking to potential buyers, losing potential buyers and then landing on the right buyer! During this time, Julie Drake was professionalism personified! She guided us with a firm hand when needed and with sympathy and understanding where required. At all times, Julie was calm and level-headed, never became flustered or frustrated, calmly reassuring us at all times. We felt totally at ease with Julie all the way through the process and her positive persona throughout gave us total peace of mind. The fact our buyers felt the same demonstrates that Julie was consistent over the course of the sale. We were very fortunate in our choice of buyer, but more fortunate to have had such a fantastic broker as Julie. We certainly could not have dealt with the sale on our own and could not recommend her any higher to any would-be agency seller.”
Hugh & Gloria White
Whites Independent Lettings
“Having decided to retire after 44 years in my current business, I chose Adam J Walker and Associates to advise me and to carry out marketing discretely. I have to say, I have been very happy with the service and assistance received from them in bringing the sale to a very satisfactory conclusion.”
SD Lambert in Upton
“Julie provided excellent service that I received before, during and after I put my business with Adam J Walker for sale. A number of potential buyers were quick to show interest and the asking price was achieved.
Even after the sale had gone through Adam J Walker remained "on hand" to help and advise me.
I can highly recommend them.”
Castle Estates Ltd