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Field Guide to Appraisal of Real Estate Offices & Selling Your Book of Business

(Updated February 2015)

Whether you own a real estate firm or are thinking of buying or selling one, it's important to know what the business is worth. The following articles and studies can provide some insight into determining the value of a real estate firm and its assets. (S. Hogan, Information & Web Content Specialist)

Q - ProQuest articles available for NAR members only. Password can be found on the ProQuest/Find Articles page.

Appraising a Real Estate Office

What's Your Business Worth?, (REALTOR® Magazine Online).

How to Value Real Estate Companies, (eHow, Jan. 25, 2010).

What to do when... It's time to determine what your brokerage is worth, (REALTOR® Magazine, June 2006).

Selling Your Book of Business

Buying and selling a book of business, (Investment Executive, 2014).

The Sell Your Business Tool Kit, (REALTOR® Magazine Online)

Selling An Operating Business & Real Estate—Who's The Broker? An Operating Business Isn't Real Estate & Shouldn't Be Sold Like It, (About.com, n.d.).

Selling your book of business: What does a salesperson have to sell?, (REALTOR® Magazine Online tool kit, n.d.).

Preparing for the Sale: It Requires More Work than most Sellers Realize, (Mergers and Acquisitions, Aug. 2011).  Q

Bridging the Gap to Escaping: Retirement or Selling Your Business? (Realty Times, Sept. 2010).

Incorporating SWOT into Your Business (REALTOR® Magazine, April 2010).

Selling Your Website

What is Your Website Worth and How to Sell it for Maximum Value (WP Curve, Oct. 31, 2014).

How To Sell A Website – How Much Is Your Website Worth? (Entrepreneurs Journey, n.d.).

Valuing Websites (Intangible Business, n.d.).

Top 15 Websites to Calculate Your Website Worth (MCJ Online, Oct. 12, 2013).

Succession Planning

Strategy should span all levels of a business, (Crain’s Cleveland Business, Jul. 7, 2014). Q

Succession Planning Is Your Family Business Parachute, (Forbes, May 6, 3014).

The Do's and Don'ts of CEO Succession Planning, (Wall Street Journal Online, Apr. 28, 2014).

Transition Time Challenge: When it comes to handing off your firm, make sure you communicate clearly with your next-gen advisors, (Financial Planning, Apr. 2013). Q

Your Prized Executive Is Leaving. Now What? (Strategic Finance, Apr. 2013). Q

How to Prepare Your Business for Succession, (Black Enterprise, Mar. 2013). Q

Web Resources

Getting Out, (U.S. Small Business Administration). SBA provides information on planning your exit, steps to closing a business, selling your business, transferring ownership, and more.

Housing & Real Estate Business Guide, (U.S. Small Business Administration). See this SBA guide for information on working in the real estate industry, including working with HUD homes and lenders, appraisals, property management, and more.

The Institute of Business Appraisers. In valuing your business, consider working with an evaluation professional. The Institute of Business Appraisers offers a certified business appraiser (CBA) designation for those meeting the group’s education and performance criteria.

eBooks & Other Resources


The following eBooks and digital audiobooks are available to NAR members:

Inside CEO Succession: The Essential Guide to Leadership Transition (Adobe eReader)

Exiting Your Business, Protecting Your Wealth (Adobe eReader)

Business Valuation and Taxes, (Adobe eReader).

Business Valuation for Dummies®, (Adobe eReader)

The Market Approach to Valuing Businesses, (Adobe eReader).

The Small Business valuation Book: Easy-to-use Techniques That Will Help You... Determine a Fair Price, negotiate Terms, Minimize Taxes, (Adobe eReader)

Valuing a business, 5th ed. (Adobe eReader)

Books, Videos, Research Reports & More

The resources below are available for loan through Information Central. Up to three books, tapes,CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800-874-6500 for assistance.

A Business Enterprise Value Anthology, (Chicago, IL: Appraisal Institute, 2011). HD1389.5.U6 B87 2011

Valuing a Residential Real Estate Service Business, (Littleton, CO: Real Trends, 2010). HD 1375 R22va

The Real Estate Professional's Handbook for Starting and Running a Successful Business, (New York, NY: Kaplan Publishing, 2007). HD 1375 B17

The Value of a Real Estate Brokerage Firm, (Chicago, IL: National Association of REALTORS® - Research Division, 1995). HD 1375 R22va

Field Guides & More

These field guides and other resources in the Virtual Library may also be of interest:

Field Guide to Business Value

Field Guide to Franchises vs. Independents

Field Guide to Opening a Real Estate Brokerage

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The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.