O'FALLON, IL--(Marketwired - May 11, 2016) - Bubba Mills, CEO of Corcoran Consulting and Coaching, outlines the best practices valuation and exit strategy for a mortgage or real estate business. Something to keep in mind is that more than likely these businesses, in the future, will be sold by Baby Boomers to Millennials or Generation X.
A recent Pew Research Study says Millennials have now surpassed Baby Boomers in the U.S. (75.4 million versus 74.9 million), and Generation X is projected to surpass Boomers by 2028.
Mills is one of the industry's leading consultants and coaches whose clients include 71 of the Top 250 real estate professionals in the country, with a total of 94 awards, according to the Wall Street Journal (WSJ) and REAL Trends 2015 report based on Team Volume and Team Units.
"The exit strategy is about the end results, and building a retirement plan for you and your family," says Mills. "However, the art of appraisal can sometimes be difficult to measure as a service provider."
Here are some key things to keep in mind when you are developing a valuation of a mortgage or real estate business:
In regards to the structure of the sale, Mills says there are typically three ways to do it:
"You and the buyers have a vested interest in the business working properly and being profitable, especially if you go with a staggered approach. A strong transition helps prevent key elements from falling into the cracks," advises Mills.
"Don't go it alone. Enlist the help of a consultant, a CPA and a lawyer. Make them your board of directors in charge of succession," concludes Mills.
To receive a free value business analysis sheet, please email Bubba Mills at successteam@corcorancoaching.com.
About Corcoran Consulting & Coaching
Corcoran Consulting & Coaching is an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into Real Estate Companies, Mortgage Companies and Small Businesses. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com.
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Contact Information:
CONTACT:
Jennifer Heinly
J&J Consulting
949-716-9829
jennifer@jandjconsulting.net