Sometimes it takes a specialist with experience to recognize the value of your agency.
Avoid costly mistakes by working with a specialist. Whether you are selling your prized insurance agency or a rare coin, it pays to have a specialist on your side. When it comes to selling your insurance agency…
It pays to have Maverick Agency Consultants on your side.
This is a fun example: Let's say you own the 2 rare coins on this page (pictured above). Let's say you even know they are rare, but they are, after all, pennies. You show them to a friend who collects many types of coins, a coin generalist, and she tells you she'll would give you $1 for each or $2 both of them because she thinks they look valuable. That's 100x their face value! Would you sell one or both of them to your friend? Your friend takes a picture with her phone and sends it to her colleague to see if he knows.
Are you curious yet? Is one more valuable than the other? Why? Either way, you probably want to see what these are worth. So how could you do that?
A specialist can tell you the difference, for a small fee from the sale price or even appraise the value for a flat fee. Or you could take it to someone who deals with pennies all the time, like a bank, for free. A banker would know the value (if any) of one vs. the other, right? Well, you go to the bank first and a nice man tells you he knows the value of your coins and is prepared with an offer of sorts. "Each is worth a $.01 since that is the “face value” listed right on the coin", the banker says. He didn't even have to look in his little book of values to see that. You see, banks are in a business of handling coins but not in the rare coin business. Now what? You can do better than that.
To complicate things, your friend's colleague will now give you $100 for both pennies in the picture your friend texted him. So, naturally, you sell that man the pennies, right? Yes you did. You did not know the proper value but you made 500x their face value, which isn't too shabby. Good job! You made some money. The moral of the story was you really didn't need a specialist, you could sell them on your own or just utilize your friend, the coin generalist. (Relax it's just an example)
OR if you were still longing for a specialist: If you were to have found a specialist who runs in rare coin circles (you know what I mean), you would not pay him anything but simply allow him to broker the deal. The specialist would earn a small percentage of the purchase price, paid by the Buyer, not you. If that sounds good, here's what he would have told you.
One of these 1969 pennies is worth $.50 (50x it's face value) to about any buyer and one is worth $30,000 (3,000,000x it's face value) to a qualified buyer. One has no mint mark and is uncirculated. The other one has an "S" mint mark and is double stamped but was clearly used.
So, which is the $30,000 coin? Although both pennies are very, very rare, the double stamped penny is worth $30,000 because it is far rarer.
I bet you are sick about selling those pennies for $100, now that you know they're worth $30,000.50. Aren't you?
Please, DO NOT make this mistake again when you sell your insurance agency. :-) Now let's get serious for a second.
|Do you want a broker who just wants your agency to sell or
one who knows the value of your agency?
MAC will give your agency the attention it deserves and Get More for you!