I write about this every year. If you are buying or selling a house be careful about what you post about it on Facebook, twitter or any other social media site. Sometimes I find information that helps me negotiate on behalf of my buyers or sellers. My clients also find information that can help with a negotiating strategy.
First time home buyers in particular will ask their friends, family and co-workers for advice. Sometimes they put it all out there on Facebook or even on a blog that anyone can read. It isn’t hard to get five different opinions on a real estate related issue. Almost everyone is an expert especially if they have purchased a home and most people are willing to give advice.
Sometimes buyers or sellers will say something unkind about the other party in a transaction on social media. It is much easier to negotiate if we leave personal feelings and drama out of the equation.
Sometimes buyers will let everyone know that they desperately want to buy the home which will weaken their negotiating position if the seller finds out or at the very least sellers will know they have the upper hand.
While negotiating with buyers or sellers it isn’t a good idea to share too much with friends and family until it is over.
Also when getting advice on buying or selling a home keep in mind that real estate is local. Rules, laws and business practices from other parts of the country may be meaningless in the local real estate market. People who are local but have not purchased a home in the last decade may be unfamiliar with current contracts and law.