Today’s RealTrending podcast features Rick Haase, president of United Real Estate. Rick discusses what they look for in a brokerage acquisition, the current real estate technology landscape and lessons learned building an in-house tech platform.
Here is a small preview of today’s interview with Rick. The transcript below has been lightly edited for length and clarity:
Tracey Velt: We have a lot of brokers listening who may be looking for an exit strategy or who want to grow market share through mergers and acquisitions but are struggling with finding the right companies. What advice do you have for them?
Rick Haase: The due diligence process that we have is both quantitative and qualitative and i’ll tell you one of the early mistakes, I see people making when they start to focus on mergers and acquisitions is they tend to pay too much attention to the profit and loss (P&L) statement and the balance sheet.
That’s critically important, and you know it’s table stakes, but you have to get that right, you have to understand the economic value of the company that you’re about to have join you, but you also have to understand the qualitative issues
I think I can make a successful argument that the qualitative measures are more important than the current status of the P&L or balance sheet.
RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.