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Architecture Guide
Cost vs. Value Report
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Take a Quiz
30 under 30
Young Professionals
REALTOR® Emeritus |  | CLOSING-YOUR-BUSINESS SALE | | ||
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|  Are You Ready to Retire? Retirement Budgeting Sources of Retirement Income Tax-Deferred Savings Vehicles Estate Planning Selling Your Business Getting Your Business Ready for Sale Working With a Business Broker Closing-Your-Business Sale More Resources: Retirement Planning | 6 Tips for a Smooth Transition The incoming and outgoing owners need to work together to keep the staff intact and to reassure clients during the transition. 1. Write job descriptions for new and outgoing management. —Ron Schmaedick, CRB, president of Schmaedick & Associates Inc.,Eugene, Ore. 2. Prepare a detailed organizational chart showing where new and old owners fit in. 3. Compile or update a list of all referral sources, such as builders, former clients, and so forth. 4. Take the buyer with you to visit major referral sources and ancillary service providers during the transition.—Hoddy Hanna, Howard Hanna Real Estate, Pittsburgh 5. Guide your salespeople and office staff through change. Human capital is the key to a successful merger; so keep the lines of communication open to ease anxiety during a time of change. 6. Put the names of both the seller and the buyer on all exclusive listing agreements during the transition period. TIP: Insist that a transition team be named to oversee the transfer of listings and the reorientation of sales associates as a part of the sales contract. —Craig Weston, who sold his northern Oregon company to Windermere, Cronin & Caplan Realty Group, in Management, Vol. 10, #3, 1995 Top Articles for Exit Strategies > | |