Peter Mohylsky.   BRIX REALTY, BRIX REALTY -DESTIN (Miramar Beach, Florida )

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Rainmaker
4,375,829
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

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?

Apr 24, 2022 02:10 PM
Ambassador
3,363,907
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

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.

Apr 24, 2022 05:35 PM
Rainmaker
986,820
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

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.

Apr 24, 2022 02:48 PM
Rainmaker
1,331,139
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

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.

Apr 24, 2022 08:24 PM
Ambassador
3,880,372
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

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.

Apr 25, 2022 05:46 AM
Rainmaker
4,456,244
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

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.

Apr 25, 2022 04:28 AM
Rainmaker
1,418,614
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Apr 24, 2022 06:29 PM
Ambassador
2,599,483
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Yes.

No.

No.

 

Apr 24, 2022 04:09 PM
Rainmaker
794,552
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

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. 

Apr 25, 2022 05:16 AM
Ambassador
5,650,579
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Databases can be Gold, if they are current, and if we have systems in place to utilize them.

Apr 25, 2022 01:19 AM
Ambassador
3,129,695
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Generally speaking - It depends on the business.

In real estate - no. 

Would I buy from a retiring Realtor - no. 

Apr 24, 2022 05:01 PM
Rainmaker
874,604
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

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.

Apr 24, 2022 02:45 PM
Rainer
144,291
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

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.

Apr 24, 2022 02:29 PM
Ambassador
2,018,681
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

No and no.

Apr 24, 2022 02:25 PM
Rainmaker
912,058
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

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.

Apr 25, 2022 04:48 AM
Rainmaker
2,117,376
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

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 !

Apr 25, 2022 04:06 AM
Rainmaker
5,207,829
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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.

Apr 25, 2022 06:51 AM
Rainmaker
1,353,113
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

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.

Apr 25, 2022 07:46 AM
Rainmaker
492,846
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I like Joan's answer above.

Apr 25, 2022 07:41 AM
Rainmaker
931,332
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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. 

Apr 25, 2022 06:53 AM
Ambassador
2,735,402
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

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.

Apr 25, 2022 08:42 AM
Rainmaker
1,753,793
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

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.

Apr 25, 2022 07:14 AM
Rainmaker
2,676,496
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

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. 

Apr 25, 2022 06:28 AM
Rainmaker
728,189
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

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.

Apr 26, 2022 04:32 PM
Rainmaker
1,032,354
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

To me, it's just business terminology/jargin. I would not sell my database

Apr 25, 2022 07:57 PM
Ambassador
1,004,424
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

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.

Apr 25, 2022 09:21 AM
Rainmaker
1,546,166
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, no, no. 

However I would be interested in pro-introductions to certain possible vendors:) 

May 04, 2022 12:13 AM
Rainer
244,159
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

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. 

Apr 26, 2022 10:04 AM
Rainer
295,861
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

nope, I wouldn't.  I'd likely recommend they put their license with a referral company, and get referrals.

Apr 25, 2022 04:23 PM
Rainmaker
712,333
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

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.

May 13, 2022 09:32 AM
Rainmaker
681,729
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Book of Business refers to our own business/clients.

May 02, 2022 04:58 PM