Do you know about - Selling Your guarnatee department Or Book of Business!
I have been approached with this question so many times I am losing count. How much is my insurance practice or book of company worth? To acknowledge this question I will draw upon my perceive as a intermediary and bring to light some of the things to avoid when selling your insurance agency, or book of business.
What I said. It is not outcome that the true about Progressive Home Insurance. You look at this article for information on what you wish to know is Progressive Home Insurance.How is Selling Your guarnatee department Or Book of Business!
In the first insurance agency deal I was ever apart of I had a buyer that was seeing for a small independent broker. I found one that was doing 2,000 a year in commissions, and the asking price was 5,000 or 2.52 times yearly commissions. I knew from my searches that it was difficult to find independent insurance agencies for sale so I encouraged the buyers to make a offer quickly. The seeder positively liked my buyer and thorough an offer for 0,000 or 2.3 times commissions. Because most books of company sell for 2 times commissions this deal was a little higher priced than most but I still think my buyer got a fair deal, based on his needs and the sellers willingness to carry some of the loan.
Steps to selling your agency or book of business:
1. Get your book of company evaluated by a expert company intermediary
2. Found a asking price for selling your insurance agency
3. Sign a listing deal with a distinguished company intermediary
4. Shop your deal for complicated offers
5. Accept a offer and begin the negotiation process
6. Negotiate the deal and furnish buyer Due diligence documents
7. Finalize negotiations and close the deal
Even though I have outlined the steps to selling your book of business, I don't suggest you go it alone, this can be like representing yourself in a court case, although you may know all the facts good than anyone, you may be emotionally attached to your company and that makes it risky for you to go it alone. Call me we will evaluate your book for free, and also help you buildings a deal that will get you maximum benefit when you sell it.
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