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How come I cannot get brokers to contact me or follow up?

I live in Dallas but currently in Baghdad. I have been browsing the adds for bars to purchase or invest in but getting any broker to consistently talk to me has been a real challenge.

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Answers (9)
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Willing to be your state-side intermediary. Contact: RealEstateSpecialties@ymail.com and I will help. What locations are you looking, what's your down payment, how soon do you want to do this etc. Are you looking for help-run or what? Let me know and I can set some things up for you for whenever you'll be here.

Nov 8, 2009
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The BAF Group LLC
MD

You know you and I agree on much of what you say. And I will go a step further in terms of your comments of SOME Brokers doing Buyers a disservice. There are Brokers that do their Sellers a disservice as well, particularly in not co-oping on their commissions. The more they co-op, the more the prices and terms remain stable. The less they provide competition among Buyers, the more they allow prices to potentially erode.

As a Buyer, I know you don't necessarily want prices to remain stable. But think about the fact that many of the businesses Brokers sell are owned by people that want to retire. This is their last hurrah! This IS their retirement, in many cases. Brokers that don't co-op, or Brokers that go for the "quick buck" by selling as fast as they can and push the Sellers into taking the first offer than comes along, are potentially shorting their Seller-Clients on dollars that the are critical to their retirement.

It is a heavy responsibility, and Brokers should be well aware of that issue.

Nov 2, 2009
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thanks everyone for the responses. I am keeping a list of the brokers who have been helpful and who haven't been. If someone is only after a quick sale then I am not for them. Even though they are the sellers broker I want someone who takes the time to answer my questions. Otherwise, I will just keep my nest egg to myself and punch the clock some more. Brokers really do their clients (sellers) a disservice when they are unwilling to make a potential buyer feel comfortable investing their life savings.

Nov 2, 2009
Damon Desautel
Main Street & Main
Determined to Exceed Your Expectations!
Hillsborough County, FL
Premium Broker

Hi Daniel,
Unfortunately, there are good and bad brokers just like in any business. The number one complaint that is heard by clients is the lack of follow up on the part of agents/brokers.Unfortunately, I am located in Tampa Bay, FL and my specialty is restaurants and bars. If I can help in any way, feel free to contact me.

Nov 2, 2009
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Waterway, Inc.
Nassau County, FL

You need an intermediary in the US so brokers can feel comfortable this is not a waste of their time.

Nov 2, 2009
Julie A. Barnes, CPA
Small Business Exchange, Inc.
Travis County, TX

Hi Daniel,

I currently have a listing for a business owned by a member of the military currently serving in Iraq. I realize that you have the opposite problem - i.e., buying rather than selling. We have not really experienced any unique problems associated with the long distance aspect of our dealings - between e-mail and phone conversations, we've navigated through the listing process smoothly.

If a broker has his/her act together - 'tire kickers' should not be a problem. Let me elaborate a bit - when I list a business - all the pertinent information about that listing is already on my website. Furthermore, I put together a 'sales package' for all my listings - including reconciled frinancials, photos, and any other information that might help a potential buyer make a decision to further pursue negotiations. All I requre is a signed Non-Disclosure Agreement from interested buyers.

I recommend that you get started as soon as possible - the sales cycle for the purchase or sale of a business moves at a glacial speed - better to come out of the chute sooner than later. Stay safe and thanks for you service.

Sincerely,
Julie A. Barnes, CPA
President, SBX, Inc.
Austin, Texas

P.S. You might want to check out my blog - AustinBusinessesForSaleBlog.com where I offer free advice about the buy/sell process. Good Luck!

Oct 26, 2009
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The BAF Group LLC
MD

I answered first because obviously I have no life! Good to hear from you.

And you confirmed what I was saying, I believe. By the time December comes around, most of the worthwhile businesses of that kind that are available today, will be sold. You are probably being sidelined by many Brokers until you get closer to when they figure you are ready to pull the trigger...so to speak...

I think toward the end of November, you might have better luck. Timing would definitely more attractive to them, at that point. Of course, at that time everyone is also running into the holiday mood swing, and that brings a whole new set of attitude problems! So many people of all walks of life seem to go into first gear the week of Thanksgiving, and don't get back into the swing of actually working for a living until after the New Year, that it drives me nuts!

Oct 10, 2009
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HI Don! Figures you would answer first. I left afghanistan and came back to iraq. Afghanistan is just one big hole. Anyway, I havent been telling people that but instead of just mostly been blown off. Maybe when i get home in december I will just have to call the offices and set appointments for meetings. I plan on going home for 3 weeks in december, possibly identifying what I want, start the ball rolling, and come back here for 60 days while the financing goes through.

Oct 10, 2009
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The BAF Group LLC
MD

Daniel, it is a real problem, with some Brokers. They get so many "tire kickers" that they frequently look at reasons NOT to respond, more than they look for ways to positively qualify Buyers. And sometimes, it is just laziness!

I would bet that a big issue for you is that you are in Baghdad. If you are telling them that, they are looking at that fact as a real negative to them: "Why should I waste time with some guy in Iraq, and who knows when he is coming back; or should I spend more time with a guy down the street who is ready to buy this week?" I am not saying they ARE doing that; I am also not excusing it, if they are. All I am saying is, that may be a large part of your answer.

If you have a brother, a wife or some other local relative that can do your calling for you, that might be a better scenario. Or, if you can tell them when you are returning (if you have not done so already,) it makes it more real to them. But the timeframe should be relatively close at hand, if you are going to overcome that issue, as a possible negative to the Broker.

There is so much garbage being listed right now, that the good listings get sold very quickly. That is what many Brokers have their eyes on. Again, that goes back to the fact that where you are, and how long until you return is what may be frustrating your efforts.

Oct 10, 2009