Broker for FSBO? - The Belize Forums

Your best bet, IMHO, is to get to know the locals and find out what can be purchased through people that they know. Most often, ANY property is for sale if someone makes an offer. Most Belizeans know what is for sale amongst their friends, and what someone is willing to take for a property.

Agents frequently tell sellers that they can bring in the dumb Gringos for big $$. Plus, there is a big commission attached. Save the commission and buy direct.

I am sure that I will get flamed for this, but the fact is that real estate in Belize is generally a joke. Buy because you want it, not because you hope to make a killing, and buy because you love the property regardless of price. There are no "comps" in Belize, despite what brokers would have you believe. Brokers are out for themselves, pure and simple. That is not bad in and of itself, but they look out for themselves first.

There are two prices in Belize; the one a Belizean is happy to have and the one a broker tells them that they can get.

I recently went direct to a guy who owned an island. It was dirt--no home or anything. Was not listed. Heard about it from my Belizean attorney. He introduced us. A broker had told him he should take no less than $1.75M if it were an American buyer, which means that the broker assumed that an American would overpay for the privilege of living in paradise, and the broker was an American. I bought it for just over half of that. The owner had paid $150,000 for it and felt that he was being paid a reasonable rate of return. He and I are still friends.

This is not America. Brokers set a rate and expect everyone to fall in line because they are doing us a favor by introducing us to paradise.

Source: http://www.belizeforum.com/belize/ubbthreads.php?ubb=showflat&Number=222092

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