Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?
"There are just 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; you are never allowed to be satisfied. If you find a company, grow it, and initiate to income it, then that's good, right? Isn't that the thought? I thought it was, at the very least.
However, it isn't in the event you look at news, view tv, or attend any business conferences. The things that people need to speak about are:


What are your growth figures regarding revenue? Projected in the market to 2015?

Is your social media marketing and digital strategy sound? Have you made some time and financial investments?

Have you contemplated geographical expansion? Franchise? Office openings?
And so on and so on. There apparently is not any downtime allowed! If you sit pat, you're going to fail. You must reach for the celebs of worldwide domination! The purpose of earning profits is to reinvest it! Get on it! Get bigger! Now!
So rapid growth is left as the only option, if you do not want 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 business people who stay the course! Those stories got chopped out early in the editing room. But despite many loud naysayers to the contrary, staying the identical is obviously a very viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!
But how about in case you really are "uninspired" now? You are burned out! You are a property management company owner (or real estate agent) who doesn't need to deal with the organization anymore. You are looking to get out and sell out. How would you do that?
You could work with a business broker to discover somebody that would like to add property management with their real-estate brokerage company, or maybe would like to own a stand-alone property management company. These instances are pretty rare along with the business broker would truly be earning their cash whenever they found somebody who will get your smaller firm (under $1M in revenues)!
What is more likely is that you simply would sell your management accounts to a new property management firm. For example, I received a letter recently from one with the largest property managers in the city; this letter was undoubtedly provided for every property management company in the area. richmond property management inspired to buy in the property management accounts there was.
In mergers & acquisitions speak, we were holding having a typical roll-up technique of buying up every smaller company in your community to accelerate their growth. They had no interest in our systems or procedures; they only wanted to throw our management clients within their management machine. This would be a fast way for them to grow rapidly. It also would be a quick means for "uninspired" property managers to move out of the business and make some quick money off their company. A true win-win? Possibly!
To grow, stay, or go- it's really a personal decision that really should not be caused by other's expectations. There are solutions regardless of what both you and your company's method is!
Website: http://www.masonre.com.au/