SAN FRANCISCO — Selling your real estate brokerage can be an emotional process akin to sending your kid off to college.
John Aaroe, CEO of the John Aaroe Group, and Partners Trust CEO Nick Segal — who both merged with San Francisco-based indie giant Pacific Union — have both been on this emotional ride recently. (The Partners Trust-Pacific Union merger was formally announced yesterday.)
“How does it feel?” asked Inman Publisher Brad Inman at an Inman Connect Session.
“It is emotional,” said Aaroe. “We talk about the numbers, the structure of the deal, the value proposition, but we don’t talk about the emotional side.
“But it’s your life’s work, you have an emotional attachment to it, and there’s an element of thinking that no one can do it as well as you. But you’ve got to step back, abide by the 24-hour rule and sleep on it.”
Their advice on preparing a company for sale? Know what you are willing to give up, and stay true your reason for doing the deal, said Segal.