B&B Brokers

[JBloggs]

Edited to say "To do or not to do a B&B broker" we have many responses here.

 

[Anon Inn]

And it never has occurred to them that by now you've already been hit by multiple editions of this kind of 'advice'.

 

[EmptyNest]

Oh my I don't want to venture a guess who this was..but am suspicious ;-)

 

[Aussie Innkeeper]

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?

 

[JBloggs]

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?.

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?

But this is not a listing with a broker. They do not have us on their website.
This is a broker who said if one of his/her people comes over here then he/she gets 3%. So no, not worth MY 3%. The buyer can give them all the % they want.
And just for background/history, we had a broker who didn't do anything other than show up at the closing to get his money when we bought this place. Any questions we had he told me to contact the seller. In fact, he didn't even fact check and the seller lied, as many have found has happened to them. He got his % from both on the deal. I am not disclosing his name here either. Not the same one as the orig post.

 

[Morticia]

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?.

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?

It's worth something, definitely. I think what grits is what happens with these brokers with lookers who have 'a week to look around':

• They use your listing and your time to show lookers what they don't want, ie - something the broker isn't making big bucks on.
• No matter how interested the buyer is, they scare them out of it because it's not their listing.
• Just the tone of the email (we have a live one here, we could bring them over or you could keep trying to sell on your own) is grating.

I've seen this game played many times in the past couple of years where buyers were either told there was nothing else for sale (when 3 properties within walking distance were for sale), or, show this property that needs a little TLC and make it sound like a money pit where this property at $700,000 more is move in ready! (Not that jb's property needs anything done, they are excellent owners!)
They're not working in the best interest of the client if they don't show them what they want to look at, just what the broker wants to sell.

 

[Lee2014]

When my parents sold our house we grew up in, the people were with a realtor when they drove by our place with the sign for sale by owner. They saw the other house with the realtor, went back to the realtor's office and got their own vehicle. We pulled into our driveway from a gathering the day after we put up the sign and the people pulled in behind us and asked to see the place. The next day they asked to have someone do a house check, and the next day they gave us an offer…. You can buy/sell without a realtor!

 

[Aussie Innkeeper]

So where is your listing posted? How would someone who is looking to buy a B&B find you?

 

[EmptyNest]

So where is your listing posted? How would someone who is looking to buy a B&B find you?.

Her listing is posted every where on line you can think of including here
has been for years

 

[Lee2014]

Everywhere I look I see JB's place!!! And its such a lovely place and have been taken well care of. I love to look at houses and inns/B&Bs for sale as a hobby. I know I'm strange! My favorites for inns are innsforsale(dot) com, bbonline, and innshopper. Aspirings, if you are looking for a place to buy in a certain location, please private message me, and I will be happy to email you ones I find that meet your list. A good thought is to buy a place already an inn or B&B. The price may be higher than a big house but it usually comes with furniture, website, a week to a month training, knowledge, goodwill, and a guest list to name a few. A big house comes with none of that. You will have to do all the paperwork to get it approved, have the neighbors sign papers to approve the new business, put in more bathrooms, buy furniture, etc to name a few. You will probably spend more money and time in the end than if you just bought one already a B&B or Inn. Just something to think about… so check out B&Bs For Sale under Innkeeper Forum.

 

[Arks]

This is a broker who said if one of his/her people comes over here then he/she gets 3%.

I guess I'm missing something. Not the first time! The one who sent the message to you said, "...if our buyer selects your Inn to purchase....Our compensation for this sale is 3% of the purchase price of the Inn."
So you only pay 3% if their buyer purchases your inn. How much would you pay a local agent? Where I live they get 7% to 10%, depending on the sale amount.

 

[BananaE29]

Everywhere I look I see JB's place!!! And its such a lovely place and have been taken well care of. I love to look at houses and inns/B&Bs for sale as a hobby. I know I'm strange! My favorites for inns are innsforsale(dot) com, bbonline, and innshopper. Aspirings, if you are looking for a place to buy in a certain location, please private message me, and I will be happy to email you ones I find that meet your list. A good thought is to buy a place already an inn or B&B. The price may be higher than a big house but it usually comes with furniture, website, a week to a month training, knowledge, goodwill, and a guest list to name a few. A big house comes with none of that. You will have to do all the paperwork to get it approved, have the neighbors sign papers to approve the new business, put in more bathrooms, buy furniture, etc to name a few. You will probably spend more money and time in the end than if you just bought one already a B&B or Inn. Just something to think about… so check out B&Bs For Sale under Innkeeper Forum..

Everywhere I look I see JB's place!!! And its such a lovely place and have been taken well care of. I love to look at houses and inns/B&Bs for sale as a hobby. I know I'm strange! My favorites for inns are innsforsale(dot) com, bbonline, and innshopper. Aspirings, if you are looking for a place to buy in a certain location, please private message me, and I will be happy to email you ones I find that meet your list. A good thought is to buy a place already an inn or B&B. The price may be higher than a big house but it usually comes with furniture, website, a week to a month training, knowledge, goodwill, and a guest list to name a few. A big house comes with none of that. You will have to do all the paperwork to get it approved, have the neighbors sign papers to approve the new business, put in more bathrooms, buy furniture, etc to name a few. You will probably spend more money and time in the end than if you just bought one already a B&B or Inn. Just something to think about… so check out B&Bs For Sale under Innkeeper Forum.

You should copy & paste this into "B&Bs for Sale" as a new post!

 

[EmptyNest]

This is a broker who said if one of his/her people comes over here then he/she gets 3%.

I guess I'm missing something. Not the first time! The one who sent the message to you said, "...if our buyer selects your Inn to purchase....Our compensation for this sale is 3% of the purchase price of the Inn."
So you only pay 3% if their buyer purchases your inn. How much would you pay a local agent? Where I live they get 7% to 10%, depending on the sale amount..

She doesn't want to pay any fee that is why she is trying to sell it herself. Why should she pay 3% to a realtor just for sending a looker and knowing nothing about her place?

 

[Camge]

Everywhere I look I see JB's place!!! And its such a lovely place and have been taken well care of. I love to look at houses and inns/B&Bs for sale as a hobby. I know I'm strange! My favorites for inns are innsforsale(dot) com, bbonline, and innshopper. Aspirings, if you are looking for a place to buy in a certain location, please private message me, and I will be happy to email you ones I find that meet your list. A good thought is to buy a place already an inn or B&B. The price may be higher than a big house but it usually comes with furniture, website, a week to a month training, knowledge, goodwill, and a guest list to name a few. A big house comes with none of that. You will have to do all the paperwork to get it approved, have the neighbors sign papers to approve the new business, put in more bathrooms, buy furniture, etc to name a few. You will probably spend more money and time in the end than if you just bought one already a B&B or Inn. Just something to think about… so check out B&Bs For Sale under Innkeeper Forum..

Gotta admit I also love to look at B and B's for sale. WE bought a house that had been run as a boarding house since the 1920's . IT needed an incredible amount of work, but because of the location and the fact that it was grandfathered by code, it was worth it for us to buy and renovate it. We were so lose to buying an exisiting B and B in Maine. It would have been a lot easier, but in the end the location we chose was really worth it.

 

[Jcam]

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?.

I would think that the challenge with a 'local realtor' is that they are not specialists in B&B properties and won't have nearly the access to interested/qualified buyers that a B&B Broker would have. Isn't that worth something?

But this is not a listing with a broker. They do not have us on their website.
This is a broker who said if one of his/her people comes over here then he/she gets 3%. So no, not worth MY 3%. The buyer can give them all the % they want.
And just for background/history, we had a broker who didn't do anything other than show up at the closing to get his money when we bought this place. Any questions we had he told me to contact the seller. In fact, he didn't even fact check and the seller lied, as many have found has happened to them. He got his % from both on the deal. I am not disclosing his name here either. Not the same one as the orig post.
.

if it was 3% on an a complete sale and you had the money in the bank and off to other things maybe - but certainly not on we will send someone round to have a look - lol

 

[JBloggs]

Okay like all threads on this forum that quickly get convoluted, this post was about the broker who in the best interest of the aspiring client saying:
>>>If I was not willing to play she would not be willing to share those properties with her client, who may actually be suitable<<< THAT is what the thread is about.
Not how to buy or sell and inn and where JB is listing her place that is up for re-evaulation. Everyone here is always eager to help! I am commenting on the fact that she will "pull the listing" from her clients eyes if I don't agree to pay out. Not how much is fair and whether or not we should do it.

 

[Lee2014]

Okay like all threads on this forum that quickly get convoluted, this post was about the broker who in the best interest of the aspiring client saying:
>>>If I was not willing to play she would not be willing to share those properties with her client, who may actually be suitable<<< THAT is what the thread is about.
Not how to buy or sell and inn and where JB is listing her place that is up for re-evaulation. Everyone here is always eager to help! I am commenting on the fact that she will "pull the listing" from her clients eyes if I don't agree to pay out. Not how much is fair and whether or not we should do it..

I'll take the blame this time for going off in a bunny trail!

If someone is clearly looking, they will be on the internet as well and see your listing. So be ready for someone to just show up! Happy selling! You do know what to do after you sell? Innmate Road Trip!!!!!! SO let's get the word out that there's a wonderful B&B for sale!

 

[Generic]

Okay like all threads on this forum that quickly get convoluted, this post was about the broker who in the best interest of the aspiring client saying:
>>>If I was not willing to play she would not be willing to share those properties with her client, who may actually be suitable<<< THAT is what the thread is about.
Not how to buy or sell and inn and where JB is listing her place that is up for re-evaulation. Everyone here is always eager to help! I am commenting on the fact that she will "pull the listing" from her clients eyes if I don't agree to pay out. Not how much is fair and whether or not we should do it..

Actually, as a broker, she should just be honest that her fee is 3% for finding the property and they pay her fee for the work that she does or they can discuss it with the property they buy, but she should be doing the best for her client.

 

[EmptyNest]

" ifyou prefer to sell your Inn yourself, we can certainly understand and will remove this showing from our clients list.
Sure go right ahead and do that!

 

[TheBeachHouse]

No broker should be paid for showing a house. But I can understand if they want to be paid for finding a buyer. Most brokers in this area charge 6%. All payable by the seller.
If you list a house for sale by owner, most brokers in this area will not show it. So you've lost a large chunk of the market of people represented by brokers.
I'd suggest you agree to payment only if the sale goes through. Never for a showing!
And if you never want to pay a broker, of course, that is a choice. You've been there and done that, and you make your choices the past experience and wisdom.