Does the Social Media for a business convey?

By
Real Estate Broker with Murphy and Hayesville, NC; Hiawassee, Blairsville, Blue Ridge GA and Copperhill TN

Murphy, NC Commercial SalesDoes the social media for a business convey? We have a deal in the works for a local Business in the tri-state area and our Buyers wanted to add into the contract that the current Facebook page for the store convey. The Listing Agent responded “I am not sure that a FB business page (if that's how it is set up) can be transferred.  It is normally tied to your personal account.  If you don't mind, can you check into that and let me know.”

Interesting question and we’ve never come across this in a sale either... I thought you could set someone else as the administrator of the page (and change the email), then the current “owner” could be demoted to a regular fan and then they, the “buyer” would become the new "owner" the page.

Have you come across this in a commercial business or rental cabin sale?

So have you had a Facebook business page as well as other Social Media tied to a business transferred to the new owners and what has been your experience?

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Topic:
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North Carolina Cherokee County Murphy Murphy Nc
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does the social media for a business convey

Comments 8 New Comment

Ambassador
710,822
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Hi Lee and Carol. I would love to know what answer you come up with too. I know Judi is right about making someone else the Admin of your page, and remove the present owner as Admin, but I thought your business page was still connected to your personal profile page. It makes good sense to convey everything over to the new buyers, including all Social Media pages. 

December 28, 2011 09:28 AM
Rainmaker
538,913
Lee & Carol Barbour, REALTORS
Mountain Living Team in Murphy NC and North GA
Murphy and Hayesville, NC; Hiawassee, Blairsville, Blue Ridge GA and Copperhill TN

Thanks for stopping by and commenting Judi and Jerry. As much as we use Social Media it never really has come up in a listing or sale for us. Our market has many second home owners that have web sites and rental history for their homes listed and likewise a business using social media to promote, build and advertise. I think this is really an area where we should be using the existing social media as a marketing and selling tool.

December 28, 2011 07:01 PM
Rainmaker
380,167
Elva Branson-Lee
CDPE - Atlanta Real Estate & Short Sale Agent
Solid Source Realty GA

Excellent question and informative comments. I'm glad I stopped by and caught this post. I, too, would want the FB page to convey with the business, and it seems a simple thing to do. Thanks, Lee & Carol, for this discussion.

December 29, 2011 09:28 PM
Rainmaker
538,913
Lee & Carol Barbour, REALTORS
Mountain Living Team in Murphy NC and North GA
Murphy and Hayesville, NC; Hiawassee, Blairsville, Blue Ridge GA and Copperhill TN

Thanks Elva. I'm really surprised that this hasn't come up before with our rental cabin sales too. You know we always convey the rental client list, but you also need to convey the website and any other social media they used to promote that property too.

So we did close on this local business yesterday and we had the attorney add that the existing FB page and any other web sites, blogs or social media convey. Not that they were using all of those, but just to cover them.

December 31, 2011 09:08 AM
Rainmaker
331,134
John Mosier
Prescott's Patriot REALTOR & Land Man 928 533-8142
High Country Realty - Prescott - AZ

Excellent post!  As Andrew mentioned, any website and internet presence should be requested by the buyer when a business changes hands.

January 17, 2012 11:30 PM
Rainmaker
538,913

Lee & Carol Barbour, REALTORS

Mountain Living Team in Murphy NC and North GA
Find out more about moving to the NC and GA Mountains?
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Additional Information

Lee and Carol Barbour - The Mountain Living Team are Realtors in the Murphy, NC mountains and live, play and sell real estate in Murphy and Hayesville NC and Hiawassee, Blairsville and Blue Ridge GA and Copperhill TN. Follow our blog to see the scenery, outdoor activities, homes, land and mountain lifestyle we love!