Social media and real estate

socialWhen social media and real estate are mixed, what could possibly go wrong?

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 give them the upper hand during negotiations.

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.

People often believe that their Facebook friends are the best source of help when buying or selling a home. They also rely on Facebook when they have medical problems and electrical problems too.

Real estate discussion often ends up in groups where there are people like me who lurk but rarely participate.

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.

Sometimes home sellers give out way too much personal information. No one has to disclose why they are selling a home. Being vulnerable and demonstrating a level of cluelessness can attract people who make a living from exploiting others.

While negotiating with buyers or sellers it isn’t a good idea to share too much with friends and family until it is over.

When you work with a real estate agent they can not discuss your motivation for selling or anything else about you without your permission.

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.

I see the strangest things on social media from people who are looking for advice. The people who are giving the advice are just as clueless as the people asking for it.

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