Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?
"There are simply two directions; you're either growing or you're dying. There ain't no third direction." (Tommy Callaghan, Sr. in "Tommy Boy")
Business is a funny thing; the first is never able to be satisfied. If you start a company, grow it, and commence to income it, then that's good, right? Isn't that the concept? I thought it was, at least.
However, it isn't in the event you see the news, view television, or attend any business conferences. The things that people need to mention are:


What are your growth figures when it comes to revenue? Projected over to 2015?

Is your social website s and digital strategy sound? Have you made the time and financial investments?

Have you seriously considered geographical expansion? Franchise? Office openings?
And so on and also on. There apparently isn't a downtime allowed! If you sit pat, you're going to fail. You must grab the stars of worldwide domination! The purpose of making money is usually to reinvest it! Get on it! Get bigger! Now!
So rapid growth is left because only option, if you do not desire to be considered a "burned-out" property manager. If you choose to pursue slower, organic growth, you could be called "uninspired", a "non-visionary", and lazy. No one writes articles on people who stay the course! Those stories got chopped out early in the editing room. But despite many loud naysayers to the contrary, staying exactly the same is obviously a very viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!
But think about if you really are "uninspired" now? You are burned out! You are a property management company owner (or real estate agent) who doesn't wish to deal with the organization anymore. You are looking to emerge and sell out. How would you do this?
You could engage a business broker to locate somebody that desires to add property management for their real estate brokerage company, or maybe desires to own a stand-alone property management company. These instances are pretty rare and also the business broker would truly be earning their money if they found someone that will buy your smaller firm (under $1M in revenues)!
What is much more likely is you would sell your management accounts to an alternative property management firm. For example, I received a letter the other day derived from one of of the largest property managers in the city; this letter was undoubtedly delivered to every property management company in your neighborhood. The letter inspired to buy inside the property management accounts there was.
In mergers & acquisitions speak, these were utilizing a typical roll-up strategy of buying up every smaller company in your community to accelerate their growth. They had no interest in our systems or procedures; they just wished to throw our management clients into their management machine. This would be an easy opportinity for the crooks to grow rapidly. It also has to be quick means for "uninspired" property managers to escape of the business making some quick money from their company. A true win-win? Possibly!
To grow, stay, or go- it's a personal decision that mustn't be the result of other's expectations. There are possibilities open no matter what your company's approach is!
Here's my website: https://controlc.com/78534155