Question Details

Julie Nelson, Real Estate Pro in 78704

Anyone have experience purchasing another Realtors business / database? I am in the process of taking over

Asked by Julie Nelson, 78704 Sat Apr 26, 2008

another agent's business and we are working through the logistics, legal, agreements, client communication, transition etc. If you have had experience doing the same, would welcome input and advice and how to do this well in a smart business manner and maximizing client buy-in.

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Julie, A little Brain Storming idea.....ingredients of this could be a difficult transaction. First is there going to be a transition time in which the other agent is going to be available to make the transition with you? Be involved with a program to more or less Buffinni them into place? Possibly a conversation with someone who works the Buffini program. I do not practice the Buffini mentoring program although there are many great agents who do work this program I would bet that those folks have some great solid advise for you, Is the agent going to give you there cell phone number as well? Are you also keeping there email addy as well. All points of contact would be also another suggestion - roll all of these to your current sources. Just a few thoughts...good luck
0 votes Thank Flag Link Mon Apr 28, 2008
I began negotiating with a retiring agent to take over his database of 30+ years of transactions.
We could never come to terms but we came closest by not negotiating an actual price and instead negotiating a referall percentage. Obviously that type of compensation would require either lots of tracking or lots of trust. Probably lots of both. It never happened for me. Good luck, I've always thought it would be a good idea.
0 votes Thank Flag Link Sat Apr 26, 2008
Once you have all the clients in hand and your agreement met, consult a lawyer! Protect yourself!!
0 votes Thank Flag Link Sat Apr 26, 2008
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