Bed and Breakfast Network Blog

The Art of Selling Your Bed and Breakfast FSBO or Commercial Real Estate Agent

Previously we discussed the art of staging your B&B/Inn for Sale. Today we will get our wits together and decide if we want to For Sale By Owner (FSBO) or by a Professional Real Estate Agent. Now that everything is spotless and freshly painted, unnecessary things stored in a unit far enough away that the temptation of putting favorite items on display is not an option let’s sit down and figure out what exactly we should do and how we should do it. If you are a first time Bed and Breakfast Inn seller you may want to consult with several Commercial Real Estate companies.

Picking an Agent

Finding the right agent can be difficult task you need ask if your Realtor company has an agent who deals in Bed and Breakfast Inns or has experience in selling commercial properties. Ask if they would come to your Bed and Breakfast to give you an idea on the appraised value. Keep in mind that a detailed appraisal will be required and will run around $2,000 but will be in your best interest in deciding the purchase price.

Professional Photography on the Cheep

Once you have decided on an agent make sure you have those professional photo’s we discussed in a previous write up. Remember if money is an issue you may call your nearest high school, Junior College and ask for the photography department request several of their photographs major students. Then interview them and check their portfolio’s before hiring your photographer. You will be surprised at the talent these young photographers have.

Make sure you find out who holds the copyright; you or them because you need these photo’s for the Inns For Sale Directories you will be advertising on the Internet. It should take only a couple of days to have your photo’s in hand for advertising.

Posting on Directories

When posting your listing on a for sale directory make sure you write your description carefully using words the Search Engines will be looking for and make sure you write a short paragraph about the attractions in your area. Bed and Breakfast Inn For Sale Directories are an important tool and the cost is well worth the exposure.

Finding Financing

Maybe the most important issue to discuss with your agent is qualified buyers and how they will be financed. Knowing where the potential buyer can turn if they do not have enough cash will be the difference on your bed and breakfast selling or staying on the market.

There are Professional Financing agents just for just Bed and Breakfast Inns. It is good to get in touch with this individual early on because you want to know your options and it is their business to assist you as well as your potential buyer.

Today’s market is not by chance and it is smart marketing strategy to remember that commercial sales can be difficult even for the veteran B&B owner and it is in your best interest to gain any advantage you can.
These notes barely touch the surface and we strongly encourage you to research well and rely on the professionals for advise when selling your Bed and Breakfast Inn.

We want you to sell your successful business in a reasonable length of time. The time frame of owning a Bed and Breakfast Inn we have found is four to five years. We have also found that the age of the new buyers have dropped to the 35 to 48 year old group. Do not feel badly about selling and moving on to another adventure in your life. Wishing all of you who have made the decision to sell the very best.

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