Social Media: The blessing and the curse. Social media can be a deal killer if buyers and sellelers put all of their cards on the table during the home buying and selling process. Karen advises to her client to STAY AWAY from Facebook and other sites until the fat lady has sung.
Facebook is NOT for Sellers, or Buyers for that Matter!
Think about it....they say that there are six degrees of separation between strangers, meaning that everyone knows someone that you may know. There are connections everywhere, making Facebook very dangerous if you are buying or selling a home.
I let my buyers and sellers know that they should keep their thoughts off Facebook during the process of buying or selling a home. Because you never know who your friends might know.
Let me give you an example.
A seller is desperate to sell. The husband is already relocated and the wife is waiting for the house to sell. And she is posting the results of every showing. Letting her friends know about every open house and how anxious she is to join her husband. Little does she know that one of her friends is friends with a potential buyer for her home. And now that buyer knows how desperate they really are. Do you think that the buyer is going to offer a great price? No. The seller has given their negotiating position to the buyer.
Same for a buyer. They are gushing about the house that they have fallen in love with! They even post pictures of the house and tell all of their friends that submitted an offer. Do you think that the buyers will get the best deal? Not if one of their friends is friends with the seller. Because now the seller knows how much the buyer really wants the house.
In the listing consultation and the buyer consultation, I talk to my clients about the dangers of social media when buying or selling a home. Ulitmately, I don't want my client to fall into the trap of giving away their motivations. It may seem harsh, but I don't my clients talking about buying or selling until all the documents are signed and delivered. Then you can tell the world! Until then, mum is the word.
Karen Feltman, REALTOR®, ABR, AHS, CHMS, CNE, CRS, e-Pro, green, GRI, SRES, TRC
411 First Avenue SE, Suite 500
Cedar Rapids, Iowa 52401
Licensed in the State of Iowa
© 2014 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist