How A Home Seller Pocketed Extra Cash Because Of Facebook

Reblogger Sheri Sperry - MCNE®
Real Estate Agent with Coldwell Banker Residential Brokerage NRDS # 146013739

We have all heard about the poor soul who has had to much to drink and pictures get posted all over Facebook and there goes their chance at the job they were trying to get!  Well, this blog will explain how one seller saved themselves well over $2000 because of Facebook. 

Read this so you know what to avoid.  Thanks to Joe Manusa for posting the original blog. 

Original content by Joe Manausa 8508880888

When I share this story about how a house seller made money on Facebook, please understand that it also means a house buyer lost money on Facebook.

Social media is an expanding aspect in most of our lives, so we must consider the potential consequences of our "public" utterances.

Facebook, Real Estate And Sharing

Many people like to share exciting events and activities with their friends on Facebook, and what can be more exciting than buying a home?

The process of buying a house is fun (I mean, how often do you get to go shopping for something with a budget of several hundred thousand dollars, right?)

As people often do, they sometimes "share" their real estate favorites on Facebook and other social media.

The internet has created an immediacy for sharing that is unprecedented and many people enjoy the positive benefits that this creates. But they also fail to consider the potential harm they might endure by publicizing their thoughts and feelings during the homebuying process.

Real Estate on Facebook - Be careful what you share

A Facebook Real Estate Story

Recently, we listed a house for sale for sale in Tallahassee and promoted it vigorously with our online marketing system.

There was a lot of activity on the home before it even entered the MLS. Within a few days of it hitting the market, we had numerous buyers making offers and it finally went under contract at a price higher than the seller was asking.

The buyer's agent scheduled a house inspection right away, and it was conducted less than ten days after the contract was executed.

And then it happened.

The buyer posted an image of "her new home" so that all of her friends could see it. She was clearly excited about buying it, and she shared all of the changes that she and her husband were going to make.

While she only shared this information with her friends, one of them must have "liked" it which then made it visible to all of the friend's friends. And that is how it became visible to our online marketing department at Joe Manausa Real Estate.

No big deal right? The buyer loves the home. Well ...

When the house inspection concluded, the buyer requested the seller pay for $2,218 worth of minor repairs that were not evident prior to contract. The contract did not require the seller to make the changes, but the seller did not want to lose this buyer. They had a better-than-asking-price contract, so losing this buyer would likely mean losing many thousands of dollars.

The seller asked us what they should do, as it was clear that this was the best buyer for the house (meaning the buyer most willing to pay top dollar was already under contract).

Normally, we would not know what the buyer was thinking, and we would have done a risk-benefit analysis and would have likely just done the repairs.

But in this case, we knew what the buyer was thinking. She had not considered her Facebook activity as public, but she was mistaken.

We politely declined to do the repairs, and nothing happened. The buyer proceeded to close on the house and the seller pocketed $2,218 more than they would have had we not known what the buyer was thinking.

Facebook Is Public

The moral of the story is never reveal your position in a negotiation if you are 100% set on what you are going to do. You loose the ability to negotiate when you loose the ability to bluff.

Facebook is very public and you should consider that everything you post will be available to the entire world, forever.

When buying a home, share your thoughts and feelings with your real estate buyer's agent, but with nobody else.

You can always go Facebook crazy after you close on the home.

If you found this article helpful, please go "like" our Facebook Real Estate Page, you can find it HERE.



Joe Manausa, MBA
Joe Manausa Real Estate

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Realtors®
Best Business Practices
Sedona Arizona & Verde Valley Real Estate
Tags:
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Rainmaker
2,989,973
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Sheri

Social media is becoming a big part of real estate market.

Good luck and success.

Lou Ludwig

May 23, 2016 12:53 PM #1
Rainmaker
530,705
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Caught this on a repost from Jeff Dowler and well worth it being reposted a few times.  Make it a great week.  Mark

May 23, 2016 01:56 PM #2
Rainmaker
417,209
Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

Sheri,

Great choice for a repost. Knowledge is power and this is a good example of how to use it wisely and now not to share too much. 

May 23, 2016 03:29 PM #3
Rainmaker
2,001,017
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Sheri.  About the only things I post to Facebook is my daily blogs.  My wife on the other hand is a totally different story

May 23, 2016 06:57 PM #4
Rainmaker
3,824,906
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is an excellent selection for a reblog. There will be plenty of time to talk about the transaction after settlement takes place.

May 23, 2016 11:31 PM #5
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Sheri Sperry - MCNE®

(928) 274-7355 ~ YOUR Solutions REALTOR®
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