• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Merging two shops

Status
Not open for further replies.

Mike Seward

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
I have a residential shop, 8-9 CR IC's, a full time office manager and my wife does marketing full time. A few months ago, I decided to branch out to do commercial appraisals. (I'm a CR).
We developed a relationship with a CG, two man shop (one MAI) to refer commercial work to on a split fee basis.

My volume is way off to the point that I really should let the office manager go. The commercial shop is so busy that they need to hire someone to answer the phones and do accounting.

The CG approached me yesterday about the possibly of merging the two shops with his shop becoming the "commercial division" of my firm. He would have access to my office manager and accountant and would pay me a % split of his commecial fees. My wife would also market for him.

A large part of his motavation to do this is that he needs to get $10K-15K cash quickly for an unrelated reason. So, he basically wants me to buy his book of business, with him staying on and paying me a split of his fees.

Has anyone done this, or seen something like this?

Thanks
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks