Buying or Selling a Home? Don't tell your Facebook friends

Posted on Monday, October 1st, 2012 at 12:52am.

Buying or Selling a Home? Don't tell your Facebook friends.

Facebook has become a way of life for many today. People share all of life's little ups and downs with friends, but information about an upcoming home purchase or sale is one bit of information you must not share.

The agent on the other side of your transaction is always listening and looking for clues to your motivation and your willingness to accept the price that his or her client wants to pay or receive. And anything that agent learns will weaken your negotiating position.

Your agent may be telling their agent that you said "I won't pay over $172,000" but if the agent just read your Facebook page where you told your friends you'd go as high as $185,000, the agent will advise the seller to counter at $185,000.

The same is true in reverse. You as a seller may say you won't go under some price, but if you've already told the world on Facebook that you'll take $10,000 less, your chance of getting your price is nil.

You can also hurt your negotiations by talking about how anxious you are to move or how soon you need to move. Even something seemingly innocent can cost you money. So simply don't mention it at all.

Note: If you really believe that one of your Facebook contacts can bring you a buyer, say only this much:"My house is for sale, listed with (agent's name). It's a great house, so if you know someone who wants to move into the neighborhood, have them call (agent's phone number.)"

Remember that smart agents won't just be looking at your own Facebook page (or pages.) They'll also check to see what your children are saying on their own pages. That means you must remind your children repeatedly not to talk about the transaction nor their feelings about buying or selling.

Tell the kids they can tell their friends after the transaction has closed – but not to say a word until that happens.

When you're ready to buy or sell a home in Vancouver, get in touch. You can count on us to keep your confidential information confidential.

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