How A Home Seller Pocketed Extra Cash Because Of Facebook

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/4RD7

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.

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Re-Blogged 10 times:

Re-Blogged By Re-Blogged At
  1. Tony and Suzanne Marriott, Associate Brokers 05/16/2016 01:07 AM
  2. Lynn B. Friedman 05/16/2016 03:04 PM
  3. Saralou Durham 05/16/2016 11:37 PM
  4. Nancy Milton Holtzscher 05/17/2016 02:07 AM
  5. Praful Thakkar 05/20/2016 05:22 PM
  6. Andrea Bedard 05/18/2016 11:23 AM
  7. Ryan Huggins - Thousand Oaks, CA 05/23/2016 05:00 AM
  8. Winston Heverly 05/19/2016 09:54 PM
  9. Jeff Dowler, CRS 05/23/2016 09:20 AM
  10. Sheri Sperry - MCNE® 05/23/2016 10:50 AM
Topic:
Home Selling
Location:
Florida Leon County Tallahassee
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Rainmaker
85,221
Pat Braithwaite
Braithwaite Realty - Marietta, GA
E-Pro

Great post. I am adding it to my list of "don'ts".

I had one Buyer tell her office regarding the subdivision we found and then was disappointed when her "office friend" purchased one of her choices...so they could be neighbors. Hmmm!

May 18, 2016 05:25 AM #56
Rainmaker
711,768
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

I'm a little late to the party Joe but wanted to let you know that I'll be sharing your (excellent) blog post. People get so excited and don't think twice about what they share on FB. It's a cautionary tale all buyers and sellers should read!

May 18, 2016 11:10 AM #57
Rainmaker
976,885
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Wow!  Huge lesson as to what not to do on social media.  Good for your clients!

May 18, 2016 01:55 PM #58
Rainmaker
1,535,635
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Joe Manausa What a great story! It sounds like that buyer definitely 'jumped the gun' and ended up the loser for it.

May 18, 2016 09:36 PM #59
Rainmaker
509,046
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Quite a story!  Gotta stay on top of all this social media stuff however it is overwhelming.  I agree with how you handled it

May 19, 2016 12:05 AM #60
Rainmaker
1,229,119
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Great post Joe!  I've seen officer facebook posts get arrested criminals off.

May 19, 2016 03:28 AM #61
Rainmaker
577,743
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

I believe it. Best to be tight-lipped about many things throughout the process, on both sides of the transaction, including Realtors

May 21, 2016 07:20 AM #62
Rainer
494,608
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Joe,

Very interesting. Don't wear sandals, when standing on a tree to delimb it. You might whack off one of your own toes.

May 23, 2016 03:35 AM #63
Ambassador
3,964,676
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Joe

Came here via a reblog and glad I did. This is such an important issue that should be addressed with every buyer and seller BEFORE they do anything that could jeopardize their contract, or even the listing.

Jeff

May 23, 2016 09:07 AM #64
Rainmaker
1,198,249
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Joe Manausa - saw this on a reblog.  I will be reminding all my customers to check their emotions and keep them off of FB! Thanks

May 23, 2016 10:35 AM #65
Rainer
23,534
Mary Ann Smith,
Keyes 786-278-6598 www.MarySmith.Keyes.com - Kendall, FL

Excellent reminder for all of us.  I sometimes see stuff posted in facebook and I wonder what the agent was thinking.  I really do hope that they are getting in writing permission from the seller or buyer to post some items.  Loose lips always backfire on you.  I am going to re-blog this as I think it is important for all of us to read and make certain that we show it to our customers no matter what side we on.  Thanks again for sharing this with us.

May 23, 2016 11:46 AM #66
Ambassador
2,859,182
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

It used to be that I had to tell people not to talk about the transaction to their neighbors or friends because they might also be friends with the buyers. Now it's so much more complicated.

May 23, 2016 12:47 PM #67
Rainmaker
1,248,613
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Joe Manausa 

Really great post. Thanks for sharing it. Hope you have a wonderful week. 

May 23, 2016 01:48 PM #68
Rainmaker
536,538
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Hello Joe Manausa .  This is an excellent post.  Critical in fact for this day and age.  I would like to repost this on my personal Blog with your permission of course.  And all credits going to you with your information.  Mark

May 23, 2016 01:50 PM #69
Rainmaker
507,995
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Hi Joe, I caught this on a reblog. Knowledge is power, and you used it well.  

May 23, 2016 03:30 PM #70
Rainmaker
5,342,882
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations on your feature recognition. There will be plenty of time to talk about the transaction after settlement takes place.

May 23, 2016 11:33 PM #71
Rainmaker
2,394,939
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I came over from Jeff Dowler CRS reblogg.  Social Media is the WRONG place to be discussing confidential information.  Great post Joe!

May 24, 2016 11:35 AM #72
Rainer
302,409
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

 People forget how easily information gets shared and viewed by so many.  This is a great blog post showing how quickly this happens. 

May 26, 2016 01:16 PM #73
Ambassador
534,024
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

This post is not only a lesson on how to behave on social media but also why you cannot really represent the seller and the buyer at the same time.

May 27, 2016 02:00 PM #74
Rainmaker
1,529,928
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

This compulsion to share the details of life on Facebook is something that I simply can't understand. People can do themselves SO much damage - everything from announcing that no one will be home for two weeks so the house is fair game for theieves, to telling how much you hate the boss and being fired, to paying more (or taking less) for a house because you just "Had" to tell your "friends" your thoughts.

Sep 01, 2017 07:33 AM #75
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