Selling your book of business will likely be one of the largest financial transactions you are involved in.
You have worked hard for many years and now that the time to sell is here you do not know where to start.
You suddenly have many more questions than answers: How do I price my agency? How do I negotiate the price? What if the buyer wants me to carry some of the note? What are my financing options? How long does this take? Should I stay on and work? How do I handle the last commission check? Capital gains? Legal? Non Compete? And Many Many more!!! These are just of few of the questions you already have or will have.
The number one question I hear is "how do I get started...
I do not know what to do first".
As a successful agent you have invested your time and energy toward selling insurance.
You developed a plan and have spent your career following the plan with the occasional tweak to make sure you are current with the ever changing insurance landscape.
Selling you agency is really no different.
You have to start by developing a workable, realistic plan to sell your agency.
My career with Allstate was wonderful.
I traveled the world and was fortunate to build a large book.
Unfortunately when it came time to sell..
..
Allstate management provided no help.
To be fair they really cannot put themselves in the position of helping you...
if for any reason things do not work out they do not want to be held responsible and quite frankly you do not want most of them assisting you with the biggest financial transaction of your life.
In some cases the decision to sell is due to the ongoing pressure being asserted by Allstate management...
I do not think you really want that same person who is threatening your livelihood negotiating the sell of your book.
Once you have reached the point that you are going to sell there are few things you must do: 1.
- ASK FOR HELP-It is very important that you do not attempt to do this on your own.
I have learned from purchasing multiple agencies and helping many sell their agency.
You can go to my website and check out my background.
I will help you get started.
2.
- SET A REALISTIC PRICE-- It is about 50/50 with agent overvaluing their book vs.
undervaluing their book.
Me and my staff will help you determine this.
We have many contacts throughout the states that not only include Allstate agency but other agencies and banks as well.
3.
- DO NOT SECOND GUESS YOURSELF.
If you are having doubts then do not sell.
You will know when it is time.
You can absolutely not go this process with one foot in and one foot out.
You must be committed and all in if you are going to facilitate a successful sale.
4.
- BE PATIENT.
This might be the hardest thing to do.
We want it done now..
..
that is the makeup of our DNA.
As a successful agent you are used to working hard but also quick.
The life of the typical Allstate Agent changes every day and in most cases every hour.
You are used to addressing a problem, find a solution, then move to the next situation.
In the case of selling you will be at the mercy of many other factors and must be patient throughout the process.
It typically takes anywhere from 4-6 months to sell...
and that is without any major issues.
GOOD LUCK..
I can help you make this process exciting and rewarding! Me and my staff are experts at handling the various obstacles that come up and can help shield you from most of the negative situations.
We will help screen applicants and be there everyday until you sell your agency.