There’s been a run of challenges for agency owners in recent years. A chronic shortage of property managers, rent rolls shrunk through sales, rising interest rates. And the issue that’s caused most concern? A seemingly endless shift in legislation.
So it’s no surprise many agents have allowed themselves to think about selling up to escape the chaos!
For me it was a slow and steady change in my work. Not one moment, but a steady change in the atmosphere. I loved leading a team, until I had to admit I loved it a bit less. Until one day I couldn’t even say I liked it. I still had some terrific team members; it was mostly me, not them! But the office wasn’t the sunny place I used to enjoy. Dark clouds had gathered.
Then I had a bad run of lost managements; one PM who REALLY didn’t do her job. It had happened before and I’d always faced it head on. This time I sheltered in my office, hoping it’d pass and the skies would clear. But all I could hear was a growing rumble of thunder.
It’s the best metaphor for how I felt about my agency at that time: like I was working through a dark and heavy storm. I was never overwhelmed or knocked down, but I couldn’t see ahead of me. There were gusts and headwinds I didn’t want to meet. Everyone else could leave whenever they wanted; the agency principal is the single person truly stuck in any storm, forced to ride it out. And my radar showed no signs of a let up!
The decision to sell your business can take a long time and it’s definitely not one to rush. I think I’d contemplated it for more than a year, but once my ‘storm’ had truly set in, I reached that point fairly quickly. I did my homework, worked through the options. And it was time.
So what is it like?! On the other side of selling your agency? Well after a sensational break and overseas holiday I got back to doing what I most enjoy and that’s selling. There’s a simplicity of purpose for me, because I love to list and sell. Meeting people, negotiating, marketing.
I’ve had much greater clarity of mind, with none of the distractions of business leadership. I don’t support or employ any other team members. Not one. I hold myself accountable for my service to clients, but there’s no franchisor, no bank manager, no reporting.
A lot of my clients have a similar ‘revelation’; selling their agency to get back to what they used to enjoy most and focusing on their own sales. Or combining some travel and other hobbies with a scaled-down version of their real estate careers. Enjoying the sunny days with less responsibility, less complexity, less clouds.
The painting above is titled “After The Storm” and, when I saw it on a gallery website this year, it spoke to me. It now hangs above my desk. Reminding me that when you take decisive action the dark clouds will always part and the sun will always push back through. Calm and blue skies will return.
For many of the agents that ask about selling, there’s no raging storm. Just a shower or two they’ll navigate with ease. And for others, like me, a business or rent roll sale might be the action needed for a clear way forward!
If you think you might be ready to sell or would just like to chat confidentially about your rent roll and agency, please call me on 0423 332 022.