Facebook with not allowed sign

You may have read the advice that you shouldn't post your travel plans on Facebook due to the risk of burglary while you're away.

Likewise, you should be cautious about what you post on Facebook or Twitter when you are in the midst of a real estate transaction. You never know who might be "listening in" and it could weaken your negotiating position if you divulge information about your personal situation.

This hit home the other day reading a Facebook update by a friend who lives in another state. She is in the process of getting divorced and was having a bit of a rant about her soon-to-be-ex-husband. It seems that their divorce is not all that amicable and she was using Facebook to vent about the differences of opinion they were having about the sale of their house and vacation condo. He was moving out of town, wanted a quick sale, and wanted to price the properties accordingly. She wanted to hold out for more money to be able to afford the town-home she had her eye on.

Problem is, they live in a relatively small town where everyone more or less knows everyone else. There's a pretty good chance that a party to one of those real estate transactions is reading that update: the potential buyers, the other agent, etc. Or, because of the way Facebook works, you may not even know the buyer or their agent but one of your friends does, and if they comment on your update it could be read by their friend who is the buyer or the other agent.

When you're involved in a real estate transaction, it pays to keep certain things to yourself:

  • The fact that you need to sell quickly due to a transfer, divorce, impending foreclosure, etc.
  • The fact that you've already bought another house and are about to close on it.
  • How much below your list price you are willing to go (if you are selling).
  • How much more than your initial offer you're willing to pay (if you are buying).
  • That the house at (insert address) is the home of your dreams and you don't know what you'll do if you don't get it.

You get the picture.

 

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