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Ready To Retire? What To Do w/ Appraisal Book of Business.

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cwhalstead

Thread Starter
Freshman Member
Joined
Mar 5, 2007
Professional Status
Licensed Appraiser
State
California
I am a licensed appraiser in California looking to partner with an veteran appraiser, (in CA, OR, WA) who is contemplating retirement. My partnership would enable the retiring appraiser an opportunity to continue to make residual income off his book of business. Goal would be to forge a win-win arrangment that would be good for both parties. Please email me for casual discussion. Thank you.

 

ockyappraiser

Senior Member
Joined
Sep 26, 2002
Professional Status
Certified Residential Appraiser
State
Kentucky
What is a "book of business" in appraising? Your clients use YOU because they like YOUR services. Someone else taking over your business is a new appraiser and would likely lose all clients.

I have had several business over the years. I have owned radio stations, sports broadcasting networks, financial companies and am now an appraiser. I went in to appraising as I see it as the perfect "retirement" job. However, there is no "good will" value to an appraisal business. Each appraiser stands on his own. Your business value is the depreciated value of your assets, and whatever the receivables are worth.

If by "book of business" you mean your client base. . .that will disappear to other appraisers the day your clients find out you are no longer in business.
 

Damon Pedersen

Junior Member
Joined
Jan 18, 2002
Professional Status
Certified General Appraiser
State
Iowa
Sometimes a phone number is a very valuable thing... sometimes you just want the people that have your number to call.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Actually, "good will" and the name, especially as the experienced appraiser agrees to stay on as a consultant, has a significant value. For that matter, it may be the only value.

That being said, you can run a bought business into the ground. Value? I wouldn't pay more than 1.5X gross.
 
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