04/14/2014 (press release: jbeswick) // Houston, TX, USA // James Beswick
Houston’s business sales market is seeing the same growth curve as the residential housing market according to new research from VR Business Brokers in Houston. “The average business listing period is half what it was five years ago,” says CEO James Beswick, adding “Buyers are also paying top dollar for quality businesses and hitting the ask prices.”
Houston’s Association of Realtors says the city’s housing market saw its 34th consecutive month of positive home sales in March with houses priced at more than $500,000 seeing the highest increase at 28.1 percent in sales year over year. Sales of existing businesses are reflecting this steadily rising demand, driven by new residents from out of state and acquisitions by established firms.
VR, a national firm of business brokers, believes the time is right for business owners who want to sell. “There is transactional movement in every sector,” explains Beswick. “But for companies with strong balance sheets and revenues, companies are selling at record pace.”
Business transactions traditionally take much longer and are more complex than real estate deals, requiring specialized financial and legal knowledge. But with a surge of buyers in the marketplace, business brokers are seeing an acceleration in transaction times and more liquidity in the marketplace.
“Partly this reflects the economic strength in the Houston area,” Beswick continues. “Partly it’s because many buyers held off in the slower economic times and are now ready to purchase despite the limited supply of businesses for sale.” VR’s Houston office expects to see a record number of transactions in 2014 as a result.
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