Funding to buy
a real estate agency.
Buying an agency is a complex transaction. Rent roll value, sales goodwill, vendor finance, working capital — they all have to fit one funding package that works from day one. We structure the deal first, then take it to lenders who understand agency valuations. And if the numbers don't stack, we'll tell you before you spend on due diligence.
Read the deal before the lender does.
A real estate agency runs on two very different revenue engines. The rent roll throws off recurring management income — predictable, valuable, and separable. The sales business earns commission that rises and falls with the market. Lenders treat each differently. We map both before we go anywhere near a credit team.
We're a small team working with a small number of clients. Based in Canberra, connected nationally. We structure first, then go to lenders who understand agency valuations — whether you're buying your first business or adding to a growing portfolio. And if borrowing isn't the right move yet, we'll tell you when not to borrow.
Value the roll properly
Rent rolls trade on a multiple of annual management fee income. We model the multiple against portfolio quality and average fee per property.
Separate the goodwill
Sales goodwill sits in agent reputation, listing pipeline, and VPA income — partly tied to people who can leave. We price that risk honestly.
Build the capital stack
Senior debt, vendor finance, and earnout each carry a different cost and certainty. We mix them to balance day-one funding against your equity.
Fund the transition
A separate working capital facility covers staff, marketing, and technology while the business settles under new ownership.
Three ways to acquire.
We fund agency acquisitions across a range of structures — each with its own funding considerations and opportunities.
Full Agency Acquisition
The complete purchase of an operating agency — rent roll, sales business, brand, staff, and premises. We structure funding across the whole transaction, including goodwill, plant and equipment, and working capital.
- —Rent roll and sales business combined
- —Goodwill and brand value funding
- —Working capital for the transition period
- —Staff retention and handover planning
Rent Roll Only Acquisition
Buying a rent roll without the sales business — often the most efficient way to scale a property management operation. We fund the roll and integrate it into your existing agency.
- —Standalone rent roll purchase
- —Integration into existing operations
- —LVRs up to 70% on roll value
- —Very low secured rates
Franchise Buy-in
Acquiring an existing franchise territory, or converting an independent agency to a franchise model. We navigate the added complexity of franchise fees, territory rights, and brand requirements.
- —Territory and franchise rights
- —Brand conversion costs
- —Franchise fee structures
- —Growth capital for rebranding
Agency deals rarely run on one source of capital.
We structure the right mix to optimise your position — lowest cost where we can, certainty where it matters, and the least possible day-one equity.
Primary
Senior Debt
The primary lending, secured against the rent roll, property assets, and business cash flow. The lowest-cost component of your capital stack — we access specialist lenders who understand agency valuations.
Deferred
Vendor Finance
A deferred purchase price paid to the seller over time. Often critical to bridging the gap between senior debt and your available equity — we help negotiate terms that work for both sides.
Performance
Earnout Structures
Performance-linked payments tied to rent roll retention, revenue targets, or other milestones. They align incentives between buyer and seller while reducing day-one funding.
Transition
Working Capital Facility
A separate facility covering the transition period — staff costs, marketing, technology, and operating expenses while the business stabilises under new ownership.
Where lenders focus.
Every agency acquisition is different, but lenders consistently look hard at these areas when assessing your transaction.
Rent Roll Valuation
How the roll is valued — typically a multiple of annual management fee income. Multiples vary by market, portfolio quality, and average fee per property.
Sales Business Goodwill
The value attributed to the sales operation — agent reputation, listing pipeline, VPA income, and historical commission earnings.
Staff & Key Personnel
Retention of key property managers and sales agents is critical to roll value and listing pipeline. Lenders assess this risk closely.
Lease & Premises
The terms of any commercial lease, or the chance to acquire premises as part of the deal — each affects the overall funding structure.
Restraint of Trade
The vendor's non-compete obligations post-sale. Strong restraint clauses protect the buyer and give lenders confidence in ongoing value.
Integration Plan
How the acquired business will be integrated — systems, branding, staff, and client communication. A clear plan strengthens your proposal.
From opportunity to settlement.
From the first review through to settlement, here's what working with us looks like.
Review the Opportunity
We assess the target agency, its financials, rent roll quality, and sales performance. You get an honest view of fundability before committing to due diligence.
Value the Business
We prepare a detailed valuation covering rent roll multiples, sales goodwill, plant and equipment, and working capital — the foundation of every lender submission.
Structure the Deal
We design the optimal mix of senior debt, vendor finance, earnout, and equity — balancing cost of capital against deal certainty and your personal risk.
Negotiate Vendor Terms
We work alongside your solicitor to negotiate vendor finance and earnout terms that are both fundable and commercially sensible for both parties.
Secure Lender Approval
We submit to selected lenders with a fully packaged proposal — targeted submissions to credit teams who understand real estate agency transactions.
Navigate to Settlement
We coordinate every party — solicitors, accountants, the vendor, and lenders — so conditions are met and settlement proceeds smoothly.
Agency acquisition finance, answered.
How is agency acquisition finance different from standard business lending?
Real estate agency acquisitions have specific characteristics lenders need to understand: GCI (gross commission income) fluctuates with market conditions, the rent roll is a separable and valuable asset, goodwill is partly tied to key agents who may leave post-acquisition, and some revenue (sales commissions) is transaction-dependent rather than recurring. Lenders who specialise in this sector model these dynamics differently from a general business lender, which leads to better outcomes.
What deposit do I need to buy a real estate agency?
Most lenders require 20–30% equity contribution. The exact amount depends on the loan size, the quality of the agency's financials, the proportion of revenue that's recurring (rent roll vs. sales), and whether the vendor is providing any finance. Larger, well-established agencies with strong rent roll income attract better LVRs than pure sales-focused operations where GCI is more volatile.
Can the rent roll be used as security for the acquisition loan?
Yes — in most agency acquisitions, the rent roll management rights are the primary security alongside a charge over business assets. Lenders assess the roll's value independently and factor it into the total security position. If the roll is particularly strong, it can effectively support the full acquisition finance without additional property security. A low-value or volatile roll reduces the lender's security comfort and typically requires a property guarantee.
What happens if key agents leave after settlement?
This is a material credit risk and most sophisticated lenders factor it in. Key person clauses in the loan agreement are common — and the purchase contract should include key person retention provisions or vendor clawbacks if specified agents leave within 12–24 months. We review the agent dependency risk in every acquisition and advise on how to structure the purchase agreement before approaching lenders.
Related finance.
Rent Roll Financing
Funding and refinancing against the recurring management income that anchors every agency.
ProfessionalReal Estate Finance
The full suite of funding for agency principals — from roll growth to premises.
FinanceBusiness Finance
Acquisition funding, working capital, and equipment finance for operators.
Ready to discuss your acquisition?
Start the Conversation
Let's Talk About Your Acquisition
Whether you're exploring a potential purchase, have a target under contract, or need to refinance an existing acquisition — we'd welcome the conversation.
Contact Details
Phone
02 6188 9849
Office
Level 1, 33 Allara Street
Canberra ACT 2601
Hours
Monday – Friday, 9am – 6pm
What to Expect
- Honest assessment of your options
- Response within 24 hours
- Strategic insight, not a sales pitch
- No obligation discussion