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Qualifications for a Broker

M

mbatchelor

I have been thinking about using some of my radio knowledge and contacts to look at getting into the Media Brokerage biz - what qualifications should I have? Do you have to have a Real Estate Brokers license? I have background in pretty much all aspects of the biz from Sales to Engineering.
 
I think two key questions are:

Do you have lots of contacts with individual owners and groups?

Can you accurately value (not build or operate) stations?
 
A real estate license would be helpful, but not necessary.

A good color copier and a stock of bank-note quality paper would be much more useful. That way, you could print your own money & lend it to potential station buyers.

Kidding aside, there is NO MARKET right now because the banks are not loaning money. They say they are, but they are lying. 14 banks, the SBA and a bottle of rum gives me reason to say so.
 
NE Miss Radio said:
I think two key questions are:

Do you have lots of contacts with individual owners and groups?

Can you accurately value (not build or operate) stations?
Click to expand...

I have a lot of contacts with small market radio owners in my state, as well as several prospective folks willing to spend cash on the right opportunity, and believe that I could accurately come to valuation of stations from my own personal experience, and from looking at financial information, assets, etc. Just wondering if there is anything special I should do before starting to try to put these deals together. Having worked with a few brokers in the past, I am pretty familiar with the process.
 
All kidding aside, if you are going to do deals in the state where you live I would advise getting licensed by that state as a real estate broker. Keeps the local real estate people and their licensing agency off your back. One problem in getting radio station deals financed is that so many stations have little in the way of collateral besides equipment, accounts receivable and the license. Banks like real estate, if the station does own its own real estate, it makes the deal go faster--but also attracts the attention of the local "realtors," who wonder who you are, and why are you fishing in their pond.
 
Get a Broadcasting yearbook in the library - and call a few brokers, like Burt Sherwood , in Florida. He's a great guy, who will give you the straight stuff. Good Luck!
 
There are three basic qualifications for being a broker. You need to:

1. Know a sucker, er, someone who wants to buy a station.

2. Know someone who wants to sell a station.

3. Have lots of BS.
 
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