Resort Area Real Estate Brokerage

Business Description

For sale is a 15-year-old real estate brokerage that specializes in selling and leasing properties in a massive mountain resort area on the East Coast that welcomes 30 million annual visitors.

They have two local offices with 35 Pennsylvania-licensed agents, 4 Pennsylvania-licensed associate brokers and 5 agents who are also dual-licensed in either New York or New Jersey. Each agent does their own marketing via paid advertising and the owner maintains five websites that generate leads.

In 2021, they were the top non-franchise real estate office for closed sales volume in the region and in the top ten of over 200 offices (a field that includes massive companies like Keller Williams). They did $98M in volume in 2021 and are on track to be up almost 20% in net profits in 2022.

Home sales represent around 85% of revenue while short term vacation rentals make up the remaining 15%.

The current owner works part-time and is essentially handing over a turn-key business to a buyer looking for either a steady income stream or an office that can be scaled quickly for additional revenue. A buyer would not need to have a real estate agent or broker license as there are staff who could lend their licenses to the business.

The business has been pre-approved for an SBA loan for a qualified buyer.

Financial Overview

Asking Price: $2,500,000

Revenue: $3,721,280

Income: $656,136

Multiple: 3.81x

The listing is either pending or closed so the NDA cannot be signed