5,104,931
No... I don't believe you can "sell" a data base in real estate. People work with me to work with me. How could I force them to work with someone else?
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Kris Collis, Associate...
East Stroudsburg, PA
-
Steve Higgins
Kelowna, BC
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
-
Pete Xavier
Pacific Palisades, CA
-
Lyn Sims
Schaumburg, IL
-
Candice A. Donofrio
Fort Mohave, AZ
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Brenda Mayette
Glenville, NY
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Kat Palmiotti
Kalispell, MT
3,587,960
Yes in some fields it is. I have seen other agents bring on another agent for say a year or so and then they keep their license and all the business goes to whoever they brought on and receive a referral fee. I have not heard of this in the past few years or so. I would not buy a book of business from another agent.
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Doug Dawes
Topsfield, MA
-
Pete Xavier
Pacific Palisades, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
-
Candice A. Donofrio
Fort Mohave, AZ
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
1,311,772
I would not be interested in buying a book of business form another agent but I would be happy to work out a special referral arrangement.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Pete Xavier
Pacific Palisades, CA
1,543,973
Brokers do it all the time! For agents, besides brick & mortar, the only equity your real estate business has, is your database. Yes it is still viable if they can prove they have stayed in touch and have repeat clients and referrals. I have in the past purchased the rights to a book of business from a retiring agent (back in The Bay Area when I still worked up there, it's done with much planning and a cross-endorsement campaign. This introduces the new agent to the old database so it's not "forced" and the purchaser assumes the risk of attrition like any broker would buying another brokerage. One of my teammates has done it too and he makes a great living off it.
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Doug Dawes
Topsfield, MA
-
Pete Xavier
Pacific Palisades, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Joan Cox
Denver, CO
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
4,694,185
Hmm, I have never thought of my clients as a book of business. Heck, they aren't even all loyal, haha. Rather than purchasing a "book of business" from a retiring agent, I would rather pay them a referral fee for any and all referrals they send my way.
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Steve Higgins
Kelowna, BC
-
Doug Dawes
Topsfield, MA
-
Matthew Sturkie, CRS, ...
Apple Valley, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Pete Xavier
Pacific Palisades, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Joan Cox
Denver, CO
5,217,392
As with most inquiries of this type, it depends. Generally, no. An exception might be certain farm areas where an agent has a high degree of following and might offer tandem services for a period of time.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
1,503,028
I do consider the term still relevant, at least for those that have a past client list and continually work it and nurture it (like Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets does).
Would I consider buying one? No. It's just not within the scope of my niche.
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
-
Candice A. Donofrio
Fort Mohave, AZ
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Anna "Banana" Kruchten
Phoenix, AZ
2,684,109
Yes.
No.
No.
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Inna Ivchenko
Encino, CA
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Nina Hollander, Broker
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
901,891
At this stage I probably wouldn't buy a book of business unless there was something very special that would impact my business greatly. However, I am doing what I can to make my business sellable in the unforeseeable future. It would be nice to sell it since I've worked so hard to build it. I do know of agents in my office who have sold their business.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
6,393,609
Databases can be Gold, if they are current, and if we have systems in place to utilize them.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
-
Brenda Mayette
Glenville, NY
3,345,221
Generally speaking - It depends on the business.
In real estate - no.
Would I buy from a retiring Realtor - no.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Nina Hollander, Broker
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
953,717
1) Yes, especially in the insurance and investment world.
2) NO-I would not buy a book of business from a real estate agent. IF I was in real estate (no plans to come back as an agent), a referral based set-up works best instead of an outright sale.
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Steve Higgins
Kelowna, BC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Nina Hollander, Broker
Charlotte, NC
-
John Juarez
Fremont, CA
195,422
If it's for property management (commercial or residential), a book of business might be relevant. I think if you had been managing someone's rental property for several years, they would likely continue to go with whoever you sold your business to.
But for your typical residential sales agent, no. I wouldn't even try to sell it.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Nina Hollander, Broker
Charlotte, NC
-
John Juarez
Fremont, CA
-
Karen Climer
Orlando, FL
2,436,470
No and no.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Nina Hollander, Broker
Charlotte, NC
921,504
Absolutely!!!!
80% of real estate transactions occur with 'known' citizens. These 'knowns are the 'book of business' to which you refer.
However, the transition method will prove crucial to success.
It is not uncommon for the one responsible for creating "the book' to stay involved during the transition period. This is true whether it is a real estate business or a cut and sew shop. A managed transition is the key to success.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Carla Freund
Raleigh, NC
2,241,703
When the REALTOR has built a solid business, has listing inventory and sales in the pipeline, sure. All those years of buyer/seller relationships are the connections that give you a leg up. You are buying way more than some real estate signs and have momentum, a mentor to guide. Often some prime real estate office location although your agency is more than ever online and virtual, cyber intense Peter Mohylsky. Broker -BRIX REALTY !
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Brian England
Gilbert, AZ
-
Shayne Stone
Fulshear, TX
-
Peter Mohylsky, Beach ...
Miramar Beach, FL
5,868,689
I had a REALTOR approach me and try to sell her client base to me, and for a hefty sum. She didn't do that much business, so I said I would pay a referral for transactions I may get from her clients. I will be doing just that with my agent when I retire.
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Steve Higgins
Kelowna, BC
-
Doug Dawes
Topsfield, MA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
-
Pete Xavier
Pacific Palisades, CA
1,556,848
I would not. The risk/reward ration is too uncertain. Maybe--maybe--set up some referral agreement, as long as that agent is still licensed.
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Doug Dawes
Topsfield, MA
-
Pete Xavier
Pacific Palisades, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Joan Cox
Denver, CO
-
John Juarez
Fremont, CA
693,775
I like Joan's answer above.
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Doug Dawes
Topsfield, MA
-
Pete Xavier
Pacific Palisades, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Joan Cox
Denver, CO
1,052,321
Depends on whether they did what I do and similarly to how I do it. Chances are that retiree's folks would find me, if they were right for me.
Most likely I would not need to buy anything.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Lyn Sims
Schaumburg, IL
3,126,201
It has been done though I would not be interested. The people within the 'book of business' must agree to do business with the purchaser and many times they will not. Their loyalty was with the other professional.
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Steve Higgins
Kelowna, BC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Doug Dawes
Topsfield, MA
-
Ray Henson
Elk Grove, CA
-
Pete Xavier
Pacific Palisades, CA
1,844,301
I would not. I have seen it done in my office in the past & it didn't turn out the way the recipient expected. I think it's better to just go to referral scenarios.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
John Juarez
Fremont, CA
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Ray Henson
Elk Grove, CA
2,781,303
Many professionals sell their book of business. My son, the attorney, recently sold his personal injury part of his business model so he could spend more time in his cannabis and Real Estate practicing. Had my long-time dentist sell his and was hired back for a short duration after the sale to help the transition go smoothly. In a way, when Real Estate agents do a referral, they are practicing a form of it too.
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Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
805,939
When I retired in Nov. before I retired I partnered with another agent and slowly referred my clients to him for a referral fee. So far so good for both of us.
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Pete Xavier
Pacific Palisades, CA
-
Joan Cox
Denver, CO
1,196,798
To me, it's just business terminology/jargin. I would not sell my database
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Kathleen Daniels, Prob...
San Jose, CA
-
Joan Cox
Denver, CO
1,076,551
I think very much so. However, I'd never just buy a book of business, but would likely pay to be warmly introduced into a relationship with the individuals in that book of business. Just buying a list of names and emails is a waste of time, but relationships are priceless.
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Ray Henson
Elk Grove, CA
1,622,432
Yes, no, no.
However I would be interested in pro-introductions to certain possible vendors:)
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Inna Ivchenko
Encino, CA
337,854
A close friend of a relative passed a few years ago who was an agent in town, and the relative suggested it might be worth putting in an offer for the friends book of business (to benefit the estate). I gave it a few minutes of consideration, but ultimately felt like it wasn't worth it for me.
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Joan Cox
Denver, CO
378,517
nope, I wouldn't. I'd likely recommend they put their license with a referral company, and get referrals.
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Doug Dawes
Topsfield, MA
764,982
We have a handful of agents, that have "partnered" with retiring agents to help transition their clients to the newer agent, it works great for all. The retiring agent keeps their license active and refers their clients over for 3-5 years before totally stepping away.
763,883