I’ve been hanging around golf courses since I was old enough to carry a bag as a caddy. I’ve always loved being on the course, swinging as hard as I can and hanging out with buddies talking smack and having a cool and refreshing beverage along the way.
For the past 15 years, I have been selling golf courses, first for Cushman & Wakefield and for the last 5 years with my own firm, Links Capital Advisors. When I tell someone what I do for a living most people cannot believe that selling golf courses is actually a job. Golf brokerage is certainly not part of the career path that I laid out when I graduated from the University of Wisconsin. But, golf brokerage does combine my two passions of sports and real estate. The business is not quite as glamorous as it sounds but I do have to admit that I laugh at how lucky I am every time I do a site inspection.
So what does a golf course broker do? Well at this point in time, I mostly deal with golf courses that are either distressed or owned by banks. Like selling other real estate, I put together a marketing plan, identify buyers, try to get my product in front of those buyers that make the most sense and then work to convince them to buy the golf course. Once we get a Letter Of Intent (LOI) we work with the sellers and their attorneys to get a contract (PSA) out as soon as possible. Then we typically help coordinate Due Diligence (DD) and hope that the buyer won’t end up retrading the price on the deal. If all of that goes according to plan (which it rarely does) then the deal hopefully closes and I get paid. If the deal doesn’t close – I don’t get paid. It sounds so simple.
As I like to say “It’s not rocket science, all the rocket scientists are at NASA.”
Why write a Blog? I have been thinking about it for a while and finally decided there was no time like the present. Hopefully, I can provide some insight into the business of buying and selling golf courses along with providing some wit and wisdom along the way. Probably will be more wit than wisdom.
Thanks for reading.