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Making about $80k in commission not so sure about the retention and they are appointed by carriers that I can use.
Where in NY? Upstate or Down?
Why do they want to get out so bad after only 3 years?
Do they work with direct appointments or is it all brokerage?
with 800k in premium and average 80k sounds like a brokerage with no direct carriers.
especially 3years in ny, i could be wrong though
Downstate and they have two or three carriers that are direct and the rest is all brokerages with MGAs. The broker is facing a serious illness that will prevent him to continue his daily operations.
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They have 3 or 3 direct carriers but mainly write with brokerages.
Curious what are your plans?
Also where'd you find the deal?
and PS, if you pass on this deal send it on over my way. I'm always interested in buying even the smaller shops in NY.
So based on what you have read so far how much would you offer?