The other day, a very interesting thing happened. After submitting an offer for a Buyer Client, the Buyer called me to mention that the Seller had visited her Profile on LinkedIn. Obviously, the Seller was interested in determining what level of risk might be associated with accepting an offer from this particular Buyer. I hear of these types of things happening all the time in this ever increasingly close world that social media has facilitated. Nothing is sacred anymore, and Social Media sites such as Facebook and LinkedIn are becoming gold mines, and at times land mines, of information that probably shouldn’t have been shared in the first place. Sellers and their Agents who are wondering if a prospective Buyer is truly qualified sometimes need not look further than Facebook. Similarly, Buyers are able to find a plethora of information as well.
Social Media has added a whole new level of complexity to the Real Estate process. Buyers and Sellers may make comments on their Social Media sites that ultimately weaken their negotiating Power. I think it’s important to caution Buyers and Sellers alike to be very careful of what they are saying on sites such as Facebook. Sometimes information makes its way to unintended parties through mutual acquaintances and friends. Sometimes, what gets said on Social Media doesn’t actually stay on Social Media; we live in a small world, after all!
I guess the moral of this story is that when it comes to negotiations, keep your cards close in this world of Facebook, Twitter, and LinkedIn. Some things are better left unsaid; curious Buyers, Sellers, and their Agents are out there, and everyone is trying to get the inside ‘scoop’!