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Sign into your accountArriving at the Fork in the Road
November 03 2014
Guest contributor Jose Perez of PCMS Consulting says:
- Our industry continues to change and evolve; some will make it, some won't.
- Brokerages are finally making money again; some are reinvesting, some are not.
- We could easily see another recession in coming years; some will be ready, some won't.
Many brokerages have arrived at a fork in the road. Real estate brokers should be asking themselves the following questions:
- Am I proactive? You should be focused on building a competitive brokerage now and over the next five to ten years.
- Am I profitable? Your financial strategies need to give you sufficient capital to make the necessary investments to support question 1.
- Am I willing and able? Consider if it is time for you to hang it up, or if you should be consolidating market share through acquisition.
Currently we are advising a large brokerage who, as recently as a few months ago, was entertaining buy-out offers. Not receiving the value they believed justified their sale, they have switched positions and now are aggressively pursuing an acquisition strategy with our help.
Their answers to the first two questions influenced the outcome to question 3. They decided it was the right strategy to consolidate market share through acquisition of a company that might not be in the same position.