The Agent Succession Program is designed to help retiring agents evaluate, package and prepare their business to sell. The program also helps agents who are looking to grow their business by buying an established business.

Long & Foster is offering the Agent Succession Program to help retiring agents transition to the next phase in their life and help other agents grow their business by purchasing the business of another successful agent. By doing so Long & Foster can help ensure our clients are enjoying the very best real estate experience, help our retiring agents transition with a stream of incoming and help our acquiring agents grow their businesses.

Yes, there is a tuition fee for the required classes. See the training calendar for current tuition fees. Agents who are interested in purchasing an established business are required to pay a $500 fee at the time of application submission. There is no application fee for a retiring agent.

The process can be completed in as little as three weeks. The transition will vary based on which package you choose.

• • One-time buy-out:
    • Recommended for transactional business structures
    • Owner is involved in transition for six months or less
    • Focus is on strong financial statements and a history of measurable marketing strategy

• • Three-year leveraged buy-out:
    • Recommended for transactional or relationship-based business structures
    • Owner is involved in transition for up to 18 months
    • Focus is on measured marketing strategy and/or measurable cultivation of referrals from sphere of influence

• • Five-year leveraged buy-out:
    • Recommended for relationship-based business structures
    • Owner is involved in transition for up to 30 months – gradual transition
    • Focus is on measurable cultivation of referrals from sphere of influence and strategy to grow the sphere during the five-year leveraged buy-out period

I plan to retire soon. How will the Agent Succession Program help me?
If you are planning to retire soon, the Agent Succession Program will connect you with a like-minded agent who wants to grow their business by building yours. This creates a residual income for you for a set period of time after your retirement.

If I am retiring, why should I work with Long & Foster to find an agent to acquire my business?
Long & Foster has extensive experience merging real estate enterprises and building teams. That’s part of how we expanded over the past five decades from a two-man operation the nation’s No. 1 residential real estate company, as part of HomeServices of America.

I am planning to retire soon and I am interested in the Agent Succession Program. How do I get started?
If you’re considering selling or scaling back your business, here’s how you can take advantage of the Agent Succession Program.

• • Meet with the Succession Planning Consultant.
  • Attend the two required Success Path courses: The Path to Leverage and Business Foundations.
  • Work with the Succession Planning Consultant to complete the application to the program and continue the process.

What kind of support will I be provided during the transition from my full-time real estate career?
No matter which package you choose, you’ll receive hands-on support from Long & Foster from the start of the process through its completion. Here is a high-level look at the resources each package includes.

• • Strategic buyout plans
  • Sample buyout agreements
  • Marketing and communications plans (electronic, social media and PR)
  • Executive support
  • License transfer to metro referrals
  • Agent Services Group membership

If I am interested in growing my business by acquiring a more established agent’s book of business, how can I qualify for the Agent Succession Program?

To qualify for the Agent Succession Program, you’ll need to meet these requirements:

• A history of doing good business with an impeccable reputation in the industry
• Financial statements that establish stability and the cash flow necessary to sustain the business during periods of transition and growth
• A desire to create relationships, grow an existing business and respect the life’s work of the outgoing agent
• Compatibility with the outgoing agent and the structure of that agent’s business

If I am interested in participating in the Agent Succession Program, how do I get started?

• 
  Email our Long & Foster succession planning team at SuccessPath@LNF.com to set up a meeting.
• Submit your completed application (available from the succession planning team) along with the associated fee.
• Complete a personality assessment (provided by Long & Foster).

What kind of support will I be provided during the process of buying another agent’s book of business?

No matter what which kind of buyout package you become part of, you’ll receive hands-on support from Long & Foster from the start of the process through its completion. Here is a high-level look at the resources each package includes.

• • Pre- and post-transition training and coaching
  • Strategic buyout plans
  • Sample buyout agreements
  • Marketing and communications plans (electronic, social media and PR)
  • Recruiting support (staff and agents)
  • Executive support
  • Complimentary email marketing access
  • Agent Services Group Membership