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Merging two shops

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Mike Seward

Senior Member
Jan 23, 2002
Professional Status
Certified Residential Appraiser
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?

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