Negotiating the Sale of a Management Company
Negotiating the sale of a management company is a very delicate operation. Buyers and sellers will always be at odds because their interests are first and foremost profit/loss driven: the Buyer wants to pay the least amount possible, while the Seller wants to get the highest price possible. This often results in a lengthy back and forth process of offer and counter-offer. Much like buying a car, you have to have a good poker face to get the best deal, regardless of which side of the deal you represent. If a Seller seems anxious to sell, the Buyer will open with a low offer. If a Buyer seems too eager, the Seller will open with a high proposition. To get the best deal, each party must have reasonable expectations and establish a reasonable sale price range in which a deal can be made. And at the end of the day, either party has to be prepared to walk away from the deal if a reasonable sale price cannot be agreed upon. This is a business transaction, so the decision-making process must be free of emotion. Read the article……………..
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In recent years, there has been an overall improvement in the real estate climate. However, many condominium owners continue to