Did you overpay? If you decided to purchase without a buyer's agent, then you probably did. I am writing this article because twice this week I encountered very disappointed buyers as they discovered they overpaid. If you are under the misguided impression that you are saving money when you buy a FSBO home then you overpaid. In my experience and according to various real estate industry experts the FSBO homeowner will market his/her home at market price but will not pass on the savings of the brokerage fee to the potential buyer.
El Paso Tx is experiencing a dramatic housing shortage as military personnel and military support staff relocate to Ft Bliss. This should be creating a definite buyer’s market. Unfortunately these relocation buyers are not realizing the full benefit of our market because they are unfamiliar with the El Paso market and fall prey to savvy FSBO homeowners and FSBO mutations like real estate agencies that sell homes on a flat fee basis. Once again, no one is looking out for the buyer. It would behoove buyers to understand how the real estate industry works and never ever buy a home or investment property without a buyer’s agent.
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