Our friends at Housing Wire recently did our own Aaron Davis the honor of publishing his thoughts on M&A in the title industry. As you likely know, the market remains hot, both for agents seeking to retire or “cash out” after a long, successful run, as well as for agents that believe the slight decline in volume will make an opportune time to grow their own footprints via acquisition.
We urge you to check out the entire piece. However, among the highlights of Aaron’s recommendations for those considering buying or selling are the following.
- Make a plan. Sounds basic enough, right? However, you’d be amazed at how many bright, knowledgeable agents, after years of solid decision-making, decide to “wing it” on their planning. The results, more often than not, include leaving money on the table, and sometimes, lots of it.
- Know thyself (and your market). Another simple concept and also, another common mistake. It’s important for sellers especially to keep in mind that private equity will evaluate your agency very differently than, say, a national underwriter. Knowing what they value can make all the difference in your planning.
- Finally, don’t go it alone. Even owners and agents with experience in M&A can stand to have a second set of eyes (and set of experiences) to help with planning, evaluation and due diligence. There are qualified consultants out there, including, quite naturally, Aaron and the team at AMD Enterprises’ Closing Suite!
To connect with Aaron Davis, click HERE.
