If it’s location, location, location that sells property, then it’s reputation, reputation, reputation that sells brokerages themselves, particularly in the New York metro area. The same market dynamics that will drive up a sought-after piece of property are at work in the real estate brokerage market, where successful smaller operations can fetch between three and 6.5 times their annual earnings in a merger or acquisition transaction, depending on the size of the business. What a […]