Ethics and Managing Your Brokerage: GABB Fall Conference, Oct. 29, 2019
Learn the skills you need to be a better business broker at the Oct. 29, 2019 Fall Conference of the Georgia Association of Business Brokers.
The morning program, which is intended exclusively for Georgia Business Brokers who are real estate licensees, is focused on various ethics topics specific to the business brokerage profession, such as maintaining confidentiality, working with tax returns, loan applications, handling financial statements, client loyalty, using forms created by the Georgia Association of Business Brokers, and other topics.
During the afternoon program, attendees will learn about common issues in the management of a business brokering practice, including handling escrow accounts, setting commissions, co-brokering, keeping records, branding and marketing, maintaining a database for marketing and tracking clients, and other issues.
Brokers will earn a total of six continuing education credits courses certified by the Georgia Real Estate Commission. The class will be held at the Georgia Association of Realtors Conference center at 6065 Barfield Rd, Sandy Springs from 9 a.m. until 4 p.m. Lunch will be provided by Leigh Milton and Claudia Wilson of Center State Bank, and breakfast will be provided by Eva Farag of Oconee State Bank.
Registration for the conference will be $150, but GABB members can register for $99 if they register by Oct. 10. If you want to just take half a day of classes, that’s $85. Scroll to the bottom of the page to register.
GABB Code of Ethics and Ethical Concerns
Morning Session 9:00-12:00, 3 Continuing Education hours
Learning Objective: Attendees, all of whom are licensed real estate agents, will become familiar with the GABB code of ethics and how to handle various ethical concerns related to financial statements and other representations by clients.
Instructors:
Susan Kite, Senior Vice President, Government Guaranteed Lending at Georgia Primary Bank
Susan J. Kite has more than 30 years of experience in commercial and SBA lending. She began her career in Jacksonville, Florida, as Director of an SBA 504 lender, moving to Atlanta with Bank South in 1990. Susan has worked with several Atlanta banks including Crescent Bank, Brand Bank, and Renasant Bank before moving to Georgia Primary. She is skilled at SBA 7a Term loans, SBA 504 loans and SBA Express credit lines. She specializes in business acquisition lending. Susan has served as Chairman of the Board of Directors of the Georgia Lender’s Quality Circle, a professional organization of SBA lenders in the Southeast. She also sits on the loan committee of Capital Partners Certified Development Company. Kite earned a bachelor’s in Business Administration from Terry College of Business at the University of Georgia.
Lawrence Domenico, Managing Partner Mozley, Finlayson & Loggins LLP
Mr. Domenico joined Mozley, Finlayson & Loggins in 1990 and practices in the areas of estate planning and probate, commercial and business litigation, and general litigation. Mr. Domenico also has extensive experience as a business lawyer in assisting start-up and existing businesses. In addition, Mr. Domenico has broad experience in alternate forms of dispute resolution including arbitration and mediation. Mr. Domenico was born in St. Paul, Minnesota, on April 29, 1963. Mr. Domenico received a B.A., cum laude, from the University of the South in 1985. He attended the University of Georgia School of Law where he received a J.D., cum laude, in 1988. Mr. Domenico is a member of Phi Beta Kappa and Omicron Delta Kappa honorary fraternities. He belongs to the Atlanta and American Bar Associations, the State Bar of Georgia, and the Defense Research Institute. Mr. Domenico is active in a number of civic organizations and is a member of the 1995 class of Leadership DeKalb and the Rotary Club of Dunwoody.
David Chambless, Business Broker, former President of the GABB Board, member of GABB’s Million Dollar Club., president of Abraxas Business Services. He has extensive experience in business development; finance; operations; sales; marketing; and international channel development and management. He has a Master of Business Administration in Finance degree from the Wharton School of the University of Pennsylvania and a Bachelor of Industrial and Systems Engineering degree from Georgia Tech. In 1982, he became a Certified Public Accountant.
Brokerage Management
1:00-4:00 p.m., 3 continuing education hours
Instructors:
Dean Burnette, Business Broker, President of the GABB Board, past member of GABB’s Multi-Million Dollar Club, Managing Broker of Best Business Brokers of Savannah. Mr. Burnette is a member of the Savannah Area Realtors – Real Estate Commercial Alliance (RCA), The Georgia Association of Realtors, and the National Association of Realtors. He is a member of the Savannah Area Chamber of Commerce, the Savannah CFO Council, Savannah Traffic Club, is a member and was the 2013-2014 President of the Savannah Small Business Chamber.
Jeff Merry, Business Broker, former President of the GABB Board, current GABB board member, platinum member of GABB’s Multi- Million Dollar Club, and founder and president of the BUSINESS HOUSE, inc.SM. As a Business Intermediary, Jeffery has been involved in more than 200 mergers and acquisitions that have ranged in acquisition price from $60,000.00 to more than $15,000,000.00. Jeffery specializes in serving the manufacturing, distribution, veterinary, service, and medical industries. Jeffery holds a Bachelor’s Degree from Mercer University, a Masters of Business Administration from the University of Illinois, and a Juris Doctorate from Atlanta Law School. Jeffery is also a licensed real estate broker in Georgia and Florida. Further, he is an Adjunct Professor of strategic management, accounting, and finance in MBA programs.
Mike Ramatowski, Business Broker, current member and Past President of the GABB Board, member of GABB’s Million Dollar Club. CBI, owner of RamBizGroup LLC, works with business owners, sellers and candidates for merger by acquisition from manufacturing, distribution, and service businesses. He has owned and managed businesses that included a real estate master franchise, a property management networking company, and a service business. As COO of a banking conglomerate he managed brokerage operations, title companies, home and service warranty programs, and a relocation company. Mr. Ramatowski has served on the board of directors of 12 different organizations with diverse specialties including real estate brokerage, mortgage companies, title insurance, banking, health care, fitness center operations, and office supply operations, providing marketing and organizational growth expertise. He served as an Electronic Specialist in the U.S. Navy Submarine Service. He attended Cleveland State University and Baldwin Wallace College. He has earned the Certified Business Intermediary professional designation by the International Business Brokers Association.
Jon Roman, Business Broker, Treasurer of the GABB Board, member of GABB’s Multi-Million Dollar Club, and owner of Transworld Business Advisors of Atlanta Perimeter, an award-winning group of ten agents, a Franchise Director, an office manager and a marketing sales specialist. For nearly 18 years, prior to Transworld, Jon had helped entrepreneurs to obtain funding when acquiring, selling or franchising businesses. He established, acquired, operated and sold his own businesses for over 20 years. Mr. Roman is a former commercial banker with experience in a multitude of deals. Throughout his career, Jon financed mergers and acquisitions, business expansions, construction and development projects. He evaluated businesses, built and consolidated financial records and shared opinions regarding business plans, and/or exit strategies. Jon is a multi-million-dollar member of the Georgia Association of Business Brokers (GABB) and is currently serving as a treasurer for GABB. Among other qualifications, Jon is a CCIM (Certified Commercial Investment Member) since 2005.
This class has been organized by the Georgia Association of Business Brokers and the GREC certification is through the Capitus Real Estate Learning Center.
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GABB Spring Conference: Learn How to be a Better Business Broker
Do you want to learn more about Business Brokerage?
The Georgia Association of Business Brokers is offering a Spring Conference that will cover the basics of business brokerage including
- Reading a Profit & Loss statement to help determine business value
- Components of a Balance Sheet
- Qualifying Buyers
- Finding Seller’s Discretionary Earnings
- Basic Legal Issues in Business Brokerage
- Avoiding Legal Pitfalls
The Spring Conference will be held on April 30th at the Georgia Realtors Building at 6065 Barfield Rd. from 9 a.m. – 4:30 p.m. at the Georgia Association of Realtors Conference Center. The cost will be $125, but GABB members can register for $75 if they register by April 15. If you want to just take half a day of classes, that’s $75. Scroll to the bottom of the page to register.
Breakfast and lunch are included. Patrick Norris, Esq., of Norris Legal Atlanta Law Group, LLC will provide lunch, and Kim Eells and Susan Kite of Renasant Bank are providing breakfast.
The morning session will cover some basic business brokering skills, while the afternoon session will tackle legal issues. Attendees may register for the entire conference, or just the morning or afternoon session. The classes are offered through the Georgia Association of REALTORS school #271 and have been approved for six hours of continuing education credit towards renewing your Georgia real estate license.
AM: An Introduction to Business Brokerage: Business Profitability and Qualifying Buyers: (70542) Real Estate CE / 3 credits
DESCRIPTION: The student will be able to identify, understand and complete basic documents used to determine the potential sales value of a business, will learn how to identify key elements of a profit and loss statement, calculate a business’s profitability and value using the business’s tax returns, and determine a business’ discretionary earnings. At the conclusion of the session, attendees will be able to determine the profitability of a business and if a buyer can qualify to purchase it. 9 a.m.-12:30 p.m.
How to Read a P&L statement and Balance Sheet: Former GABB President Greg Defoor, Founder DeFoor Business Services, Inc.
OBJECTIVE: Upon completion of this segment of the class, students will be able to identify important features of profit and loss statements and balance sheets, and demonstrate how to determine the ways balance sheet items affect cash in the bank.
Determining Real Estate Loan Structure using Business Tax Returns: Ryan Stoll, SBA Banker at Cadence Bank
Objective: Upon completion of this segment, students will be able to determine whether a buyer can qualify or not to purchase a business based on their tax returns, as well as determine the profitability of a business and its value. Students will be able to use a tax return to determine CADA.
Discretionary Earnings and Business Valuation: Dan Browning
OBJECTIVE: Upon completion of this section of the class, the student will be able to demonstrate how a Seller’s Discretionary Earnings affects the value of a business. The student will be able to identify and explain private and bank valuations, how to determine owner’s compensation, and how to identify items that will not enhance the value of a business.
BREAK FOR LUNCH
GABB Spring Conference: PM Session: Business Brokerage Basics: Legal Issues (70543) Real Estate CE / 3 credits
1:15-4:30 p.m.
DESCRIPTION: Participants will learn how to identify potential legal problems that could arise in the purchase or sale of a business such as identifying asset purchases versus stock purchases; how to verify a business’ legal status; identifying ownership structures; how to use the basic legal forms provided by GABB; identifying and understanding the steps in the due diligence process; and securing their commission and avoiding litigation
Basic Legal Issues in Business Brokering: Tanya Nebo
OBJECTIVE: Basic Legal Issues in Business Brokerage. After completing this hour, students will be able to identify and explain basic legal issues business brokers may encounter in the sale or purchase of a business, identify types of purchases, identify legal entities, and demonstrate how to verify the status of a business, and demonstrate an understanding of the due diligence process.
Legal Forms Used in Business Brokerage: Attorney Shannon Collier Stalvey
OBJECTIVE: The student will be able to identify and use common legal documents used in the purchase of a business, including how to obtain and use GABB Forms, identify legal problems that a broker may encounter when using a standardized forms, demonstrate the use of a standardized form, and identify situations in which a broker should consult an attorney.
Avoiding Legal Pitfalls in Business Brokering: Attorney Larry Domenico
OBJECTIVE: Students will be able to identify and explain legal pitfalls when selling a business, demonstrate ways they can avoid lawsuits, identify asset purchase agreements and non-compete agreements, and demonstrate how they can avoid problem clients
Register for the class.
PLEASE BE SURE your registration went through by watching for the notice on the screen, and the emailed receipt. If you don’t see those, your registration didn’t go through. Please try again?
Contact GABB at georgiabusinessbrokers@gmail.com or 404-374-3990 for help if you have difficulty.
If you wish to pay by credit card, select the PayPal Option. If you are paying by check, please mail your payment to
GABB Treasurer
4780 Ashford Dunwoody Road, Suite A-241
Atlanta, GA 30338-5564
GABB Holiday Party 2019 Slideshow
The Georgia Association of Business Brokers celebrated another successful year at a Dec. 7 Holiday Gala at the Capitol Grille in Dunwoody.
Read MoreMillion Dollar Club Applications Due Nov. 11
The GABB is now accepting applications for the 2018 Million Dollar Club, recognizing members who have sold businesses worth at least $1 million in the previous year. The deadline for submitting applications is Nov. 11, 2018.
Awardees will be honored at the annual GABB Holiday Gala on Dec. 6 at the Capital Grille in Dunwoody at Perimeter Mall.
GABB members are eligible for the:
- Million Dollar Club if they have eligible sales from Nov. 1, 2017 to Oct. 31, 2018 of $1,000,000 to $1,999,999.
- Multi-Million Dollar Club members will have eligible sales generated totaling $2,000,000 or more during the same period.
- Life Members of the Million Dollar Club have been elected to the Million Dollar Club for three consecutive years or any 5 years.
- Phoenix Award Member is anyone who has been elected to the Million Dollar Club for any 10 years.
- Silver Phoenix honors a person who has been elected to the Million Dollar Club for any 25 years.
To be eligible for the award, an applicant must be a current member in good standing of the Georgia Association of Business Brokers and only transactions closed after the effective date of membership in GABB will count as Million Dollar Club volume. All Million Dollar Club members must have attended at least three GABB events during the eligible period, such as meetings, conferences, or social events.
GABB-Million-Dollar-Club-Rules-REVISED
Please contact Diane Loupe at georgiabusinessbrokers@gmail.
A Look into Health Care vs Well Care
By Bob Smith
Licensed Health & Life Insurance Agent
Check-out North American Health Plans.
In a few days, we will reach the halfway point in the calendar year and make the turn for the proverbial back nine. This is the time of the year when health insurance companies present their 2019 health plans to state Insurance Commissioner’s Offices, and we await with trepidation. Which insurers will offer plans in 2019, what will the plans look like, and will individuals and small (under 50) groups responsible for purchasing their own health coverage be able to afford them?
The congressional debate over the Patient Protection and Affordable Care Act — a.k.a. ObamaCare or ACA — did not end with the law’s passage in 2010 or implementation in 2014. Each year since the law’s enactment, health insurers have withdrawn from offering on and off health plans; and the cost for those not qualifying for a federal tax credit (aka subsidy) based upon income has increased and HMO choices become more limited. The sand under our feet has shifted mightily while the debate on how to deliver care continues. With a sense of optimism self-employed workers, independent contractors and employees without employer sponsored (and subsidized) health plans still have choices and the light at the end of the tunnel is not the oncoming train.
What respite do individuals purchasing health insurance on or off the Federal Marketplace have?
- One course is stay healthy, eat sensibly, exercise daily and adhere to our mother’s advice of eating an apple a day to keep the doctor away. Swimming in the right gene pool doesn’t hurt either.
- Since the era when doctors made house calls (“the good old days”), health insurance existed only to protect against catastrophic medical consequences. The option was to be self-insured and pay cash for the medical services rendered (www.healthbluebook.com and www.fairhealthconsumer.org). And though cash pay policies are a growing trend where patients can avoid miscoding CPT or ICD-10 codes, this isn’t medically or financially feasible upon a trip to the hospital resulting from a serious medical issue.
- There are PPO health plans that offer a cost-effective and viable alternative to HMO plans offered on the Federal Marketplace. The plans provide a strong network of doctors with premiums typically offering savings of 50% or more, critical illness supplements and other valuable imbedded benefits. These plans also work in tandem with or without self-pay policies at the doctor’s office. Enrollment is not limited to a narrow window and if you are not fully pleased with your existing coverage you are able to consider alternatives without having to wait till open enrollment and January 2019.
Inherent in consideration of insurance is an individual’s risk threshold. Bad things happen to good people and at the heart of wellness is prevention. An integral component in prevention is the Primary Care Physician’s role. This fact has been recognized and promoted by HIPnation, a growing concierge-style model with multiple doctor practices in the Atlanta Metropolitan area. The membership program is built upon a PrimaryPlus foundation with an eye towards outpatient care. Founded by doctors, this patient-centered concierge service is helping bring down their members’ costs and pairs with low cost insurance coverage. The resulting better care from a personal physician for $100/month with no copay and no deductible has proven to lower overall annual costs. Check-out www.HIPnation.com.
Healthcare is a complicated and what’s most important is having access to affordable health insurance and a physician practice that is patient focused with an eye on prevention that can help forestall future medical consequences.
Note: It’s important to do due diligence with non-Marketplace plans as they are underwritten and the devil is in the details.
Bob Smith
404-593-9663
With this in mind, saving more than $2,500/yr should be worth a 30 min conversation for additional information. And rest assured I am still making house calls.
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