In our work with business owners across New Zealand, one of the most significant – and consistently overlooked – value opportunities we see lies within the real estate sales sector. Put simply, many real estate sales businesses are sitting on millions, if not hundreds of millions, in unrealised enterprise value. Yet most owners have no idea it’s there.

This value gap is not theoretical. We see it play out in the market every day. Poorly performing businesses in other industries routinely sell for 4x EBIT or more, while high-performing real estate sales businesses – often with strong brands, loyal teams, and stable revenue – are effectively given away for 1x earnings or less.

This disparity is staggering. And it represents one of the most compelling value opportunities available to any real estate business owner today.

Why the Gap Exists

Real estate sales businesses are often misunderstood and undervalued by the market. Traditional valuation models fail to capture the true economic engine of these businesses:

• Recurring agent performance

• Embedded brand equity

• Established systems and processes

• Long-term market presence

• Strong cultural and leadership foundations

When these elements are properly articulated, structured, and presented, the value uplift can be extraordinary.

Succession or Sale? Preparation Is Everything

If you are considering succession, partial exit, or a full sale, the good news is that unlocking this hidden value does not require complex restructuring or risky investment. In most cases, a handful of targeted preparations can dramatically increase your valuation multiple.

These may include:

• Formalising operational processes

• Strengthening leadership and governance

• Improving financial reporting and transparency

• Documenting performance systems

• Articulating the business model in a way buyers understand and value

The difference between a business selling for 1x earnings and one selling for 3 – 4x is often nothing more than preparation, positioning, and professional guidance.

You’ve Built the Value – Now Capture It

Real estate business owners work incredibly hard. You’ve built teams, nurtured culture, weathered market cycles, and created a business that delivers consistent results. You deserve to realise the full economic reward for that effort.

At Bentleys, we specialise in helping real estate sales businesses identify, articulate, and unlock their true enterprise value. If you want to maximise the value of your business and increase your personal wealth, we invite you to book a meeting with our consulting team.

We’ll help you understand your value today, identify the opportunities ahead, and put you on a clear path to capturing the full financial benefit of everything you’ve built.