Most business owners consider selling their business at one point of time. Over the last few years, there have been 11 proprietors who have benefitted greatly from selling their appraisal business to BBG.
BBG’s vision is to be the nation’s largest independent provider of commercial real estate due diligence services. Since 2015, BBG has nearly doubled our number of offices. We now rank among the largest CRE appraisal and assessment firms with 39 offices nationwide — and we are looking to expand further.
In 2020 alone, we enlarged our assessment group in the New York Metropolitan market with several key hires. We bolstered our Florida presence by acquiring the Tampa-based real estate appraisal firm Herr Valuation Advisors, Inc. and we strengthened our presence in the greater Phoenix-Scottsdale area with the acquisition of Nava Hurd Advisory Group.
BBG also expanded its offerings to serve clients better by launching a land title survey service as well as valuation and assessment services for the manufactured housing communities, recreational vehicle parks and campgrounds.
In 2021, BBG is poised for another year of impressive growth. The company has already launched a new practice group offering comprehensive valuation and advisory services for right-of-way (ROW) and eminent domain projects and we are looking to further expand through several additional acquisitions.
Should Your Firm Join BBG?
Acquisition by BBG can be part of a nimble growth strategy for proven or up-and-coming CRE due diligence firms that share BBG’s vision of creating a national independent due diligence firm. Business owners appreciate the entrepreneurial environment, strong technology, corporate support and national multi-service platform.
Rodman Schley, MAI, SRA, and National President of the Appraisal Institute was president of Denver-based Commercial Valuation Consultants (CVC) when he was approached by BBG. Although he wasn’t seeking acquisition, the unique benefits BBG offered convinced him to join the firm to put his efforts into growing and improving BBG.
“At the time, CVC was successful and a growing firm, but I saw more potential as a key leader with BBG because they were already a leading national player,” Schley said. “It’s been a great move for my team.”
Leaders who join BBG enjoy more than a cash infusion. They also shed many hassles that go with running a company — such as dealing with employee benefits, accounts payable and other administrative tasks. For Eric Haims, MAI, AI-GRS, this was a tremendous benefit. In fact, after his firm Jerome Haims Realty, Inc. was acquired in December 2018, his team posted their best year in their firm’s history in 2020. He credits BBG’s national platform and support team with helping meet that goal. The Haims team clearly benefitted from focusing solely on their entrepreneurial strengths of building business and running teams with minimal management intervention. They rely on BBG’s centralized support staff to handle the rest.
BBG likewise provides the resources to prepare and apply for your team’s MAI Designations, state appraisal licensing, LEED Certifications, events, continuing education and more. Day to day, BBG’s industry-leading technology platform and templates make it easier for you to work efficiently and always produce high-quality, consistent and professional work.
Acquisition provides substantial client service benefits too. Thanks to BBG’s national footprint, clients have one point of contact for all their projects from coast to coast. In many cases once local customers have expanded to use BBG for projects on a national basis.
BBG also helps further expand your book of business with current clients by leveraging our broad expertise across the multifamily, healthcare, hospitality, industrial, office and retail sectors. At the same time, BBG’s singular focus on due diligence ensures that your clients can continue to count on you for objective assessment of the value, use and feasibility of real estate assets in their markets without the potential conflict of interest from brokerage or lending.
Maybe you are looking for an efficient exit strategy for your business, or you wish to harness the growth-propelling resources of our national network. In either case, acquisition by BBG may be an option worth exploring. As part of our growth trajectory, we are always open to new opportunities to expand our footprint in both new and existing markets and specialty areas.
Do you think an acquisition might be a good mutual fit for your firm and BBG? If so, please connect with Jonathan Vadiee by email at email@example.com and get the conversation started.