If You’re Buying Or Selling A House, Keep Your Social Networking To A Minimum.

I’ve read multiple accounts of how social networking has affected or killed real estate deals.

Imagine the seller that finds a potential buyer’s Facebook page stating how they were planning a lowball offer but that they loved the house so much, they’d pay much more.  Think that would affect the seller’s final asking price?

It’s happened.

Imagine the seller who is talking about how desperate they are to get out of their home.  A potential buyer (or real estate agent) could use this information to scrape tens of thousands of dollars right out of their pocket.

I had a friend who was recently going through both the buying and selling aspect in trying to upgrade their home.  They handled it about as perfect as could be.

They did announce various aspects but kept the details to a minimum.

When they got an offer, they just noted that they had an offer.  No details on how they felt about it or whether they were planning on accepting it.

When they found a house they liked, they simply noted that they had a house that fit their criteria, but never announced ‘their love’ for any particular house.

Any offers they made simply stated that they were ‘in negotiation’.

All this allowed their friends to see what they were doing and support them in the process, but nothing ever tipped off a potential buyer or seller who might have been rigorous enough to try to glean some details on their thoughts.

If you’re ever looking to buy or sell property, assume that every single person that might be on the other side of a potential deal has access to your social networking information.  Even if you have everything closed off, assume the information is out there anyways, and put your information out there accordingly.

That one avoided wall post or tweet could save you tens of thousands of dollars.

8 thoughts on “If You’re Buying Or Selling A House, Keep Your Social Networking To A Minimum.”

  1. Never really thought about it, but that's so true. Luckily I happened to follow this advice without realizing it. I didn't mention that we were even buying until the deal was done.

  2. That's very true. I never really thought about it, but you have a serious point here. I have friends that use FB all the time when they discuss the houses they are looking at. I'm going to pass this post along to them. 🙂

  3. I never really thought about that but will keep it in mind the next time I'm in the midst of a transaction.

  4. Well, I'm glad to have read your post. It's helpful to me. I guess we shouldn't post every details of our everyday life on fb.

  5. Interesting take, and so true. Social networking has cost people money, jobs, etc… be careful what you are posting because you never know who will see it.

  6. I never thought about this, but it's very pertinent in today's market. With so many people able to access personal information, and lots of people willing to share, it can open up a whole other can of worms.

  7. Great points. All negotiations can be affected by your venting or whining on facebook. Don't do it!

  8. This is great advice when it comes to real estate and many other aspects of life… think before you post things to facebook or twitter!!

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