Social media has evolved into something that the original creators likely never envisioned. Today’s social media not only connects people together but also provides a wealth of information about the users that can be employed for many purposes both good and bad.
When it comes to real estate, social media provides numerous opportunities to connect buyers and sellers with access to services, reviews and ratings, and a plethora of other information.
Like most agents, I subscribe to several social media platforms. It is one way to connect with others and help build a brand identity. But it also can be helpful to help expedite the purchase or sale of a property. One example might be to utilize social media platforms to help research and verify the integrity of the offer(s) that I present to my seller.
We all know that in certain price ranges the competition for nice properties is fierce. Most agents will try to get a cash offer or at least an offer that appears on the surface to be a slam dunk. It only makes sense. But what happens when the offer is from an FHA or VA buyer? History has shown that buyers with minimal down payments or limited assets are riskier. So should I encourage my seller to accept an FHA or VA offer?
Well, for one recent transaction I did just that. The offer came from a first time home buyer. It was full price but required closing cost assistance. Call me an old softie, but I like the idea of helping someone that is going to live in and enjoy the home they are purchasing. As expected, before recommending the offer I verified the buyer’s qualifications with the lender. But then I took it one step further. Using social media, I verified the lender’s reviews. I checked out the buyer agent’s track record. But most importantly, I researched the buyer in an effort to assemble a profile that told me a little about who this person was and how they fit into society. I treated it like a job interview. Along the way, I found out a lot about the buyer, probably more than I really needed to know. But, scrutinizing the buyer can help clear the way for a smooth transaction. It gave me the confidence to recommend to my seller that accepting this offer would be in their best interest.
The results speak for themselves. This buyer found a nice home in a great neighborhood. The seller netted several thousand more than they were expecting and everyone walked away with just what they wanted.
The best part was there were no political memes, no tasteless advertisement and no stealing of identities. I think that is how social media was intended to be used.
Joe Domino is a Realtor® serving the Phoenix & Scottsdale metro area. You can find more great information by visiting his website at www.Scottsdale-AZHomes.com.
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