Real Estate Tip- Hold off on Social Media Posts

In May’s issue of Lake Norman Woman Magazine, I had a “tip page” featured which was dedicated to social media posts. Lately, I’ve seen some folks on Facebook making this exact mistake, so I thought this was a great blog post for the week. For those of you who missed it in the magazine, here it is!

“While most of us like to keep our friends up on what’s going on in our lives through various social media sources, certain situations in our lives require the old saying “Mums the word”. When you are buying or selling your home is a perfect example of how saying too much can cost you more then you bargained for. Posting too much information in your social media posts can end up costing you money! When talking about such a large financial transaction the stakes are very high.

Here’s an example of a case that just recently happened. A set of Buyers were so excited about their dream home they just found so of course they had to share on Facebook. Their post was something to the nature of, “Found our dream home and we made an offer! Hope we get it!” Well, little did they know one of their friends had a mutual friend that just happened to be the Seller of the dream home they made the offer on. What are the odds?! The Sellers obviously knew now that the Buyers were all emotions in and would do whatever it took to get the “home of their dreams” so they used it to their advantage. The Sellers countered back to the buyers with the offer at full asking price. The Buyers were so emotionally invested in this home they felt inclined to take it because they didn’t want to risk loosing the house.

Who knows how many thousands of dollars extra the Buyers had to pay for the house, all because of their one excited Facebook post. In today’s easy access to information you never know who you know and who someone else knows. Unfortunately, in this situation the Buyers enthusiasm cost them more money in the deal.  I’m sure the Sellers were very thankful for the Facebook post so they were able to get their actual list price.

I’m not saying that you can’t say anything on your social media pages. We all know that buying or selling a home is an exciting period in someone’s life and you want to share with your friends.  My advice to you is to wait until the end of the transaction to post about it OR be very vague in your posts so you do not release too much information that could hinder you in negotiations. Savor all the joy you feel about the process for the day it becomes a done deal. Maybe just tell your friends how great your agent has been in selecting houses you might consider or how many home showings your agent has had at your house and should be expecting a few offers any time now.

Just remember that sometime silence is golden.”

 


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s