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Buy/Sell Agency's book of business
Posted: Mon Aug 28, 2006 11:50 am
by InsAgentSF
If i would want to sell my book of business (very small), what percentage or dollar amound can i ask for. For example if the BofB is 20K... And how would i go about selling it to somebody? Ask around?
Thanks
Posted: Sun Oct 08, 2006 9:23 pm
by 92builder
Were I in your area, I'd offer you $3500; reason being I try to play with the 1 1/2 numbers, but I'm also trying to be the good guy about it. Oh, and I would also structure your payments on the length of the note I borrowed to buy your book. I.E., I borrowed the money over three years, so I would pay you roughly 1200 bucks a year. Oh, then I would not pay you a cent until the renewals started to come in...
Posted: Mon Oct 09, 2006 10:37 am
by sanddog1
InsAgentSF, if your book is a high % of personal lines 1 time agency commission or a little less because of short renewal periods. If your book is high % of BOP's commercial and good stuff 1 time to 1 1/2 time annual agency commission. Paid over two renewals periods, again it depends on the size and quality. I am interested how much revenue$ and what the mix? Please PM me.
