to realize, however, that prices do vary up and down from this simplistic standard. It is also best to remember simple economics, as follows: 1. Value is set by the buyer; sellers and brokers can determine an asking price but not the final value. If there are no buyers, the practice is worth nothing. 2. In an efficient market, quality will command a higher price. Dogs are hard to sell no matter what the gross. 3. The larger the pool of buyers, the greater the demand and, consequently, the greater the value. Buyers and sellers will most likely get the best and fairest deals if they consider these principles. Sellers should realize the importance of a good broker who understands these principles, can use them to maximum value, and can create the best results. If you’re searching for assistance in valuation, negotiations, and finding the right buyer, Accounting Practice Sales is a global leader in marketing tax and accounting firms. Contact Trent Holmes at Accounting Practice Sales at (800) 397-0249 or trent@aps.net. 11 www.nescpa.org
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