By Jim Huff, president, Huff Realty, Louisville, Ky.
Acquiring Profit: The Win/Win System to Real Estate Mergers and Acquisitions By George Slusser (Quantum Solution) $25
Acquiring Profit not only met but exceeded my expectations.
It gets to the meat of the material right away, and the information comes from a person with experience. It’s not just case studies or theory.
The book takes you step-by-step through the acquisition process, beginning when you first conceive of the idea for an acquisition or merger, through implementing the plan, and up to the transition. It’s an easy read for anyone in the business and for people contemplating selling or acquiring a business.
Acquiring Profit lets brokers know what information they need in a merger or acquisition and includes a never-forget list, five formulas for calculating value, and a rundown of the fold-in versus the move-in process. You can use the book as a reference tool.
One of the most informative features of the book is a graph illustrating how drastically brokerages have changed. It shows that between 1990 and 1994, 77 percent of the top 100 companies in the country were involved in one or more mergers or acquisitions; from 1980 to 1985, only 14 percent were involved.
I was also impressed by the information concerning the human element of mergers and acquisitions. Realizing there’s more to the acquisition process than just numbers, Slusser tells how to deal with the various personalities.
I enjoyed every chapter of the book, and I got so caught up in it that I found myself highlighting points for future reference. In fact, I was about halfway through the book when I mistakenly left it on a plane, and I was truly disappointed that I’d have to wait and find another copy before I could get the rest of the information.
Our company is in an acquisition mode, so the book was especially valuable to me. It confirmed that I’d done some things right, and it gave me ideas to better handle future acquisitions or mergers.