Social Media and Real Estate
Whether you are buying or selling a New Orleans home, there are a few things you need to think about before you go public with information and mix social media into your buying or selling experience.
You don’t have to be exceptionally active on social media to tip your hand, either. Savvy buyers, sellers and agents are, without a doubt, googling the people on the other side of a transaction to find out everything they can to strengthen their negotiating position.
I’m not saying to keep the fact that you are buying or selling a secret from your friends, but be mindful when talking about the following:
As a seller, are you crowing that you got a fantastic price – more than you thought you ever would? If the buyer’s agent should find that information, they will know that you have ample room in your budget for repairs during the inspection period. This could mean that you get presented with a laundry list of big and small items that the buyer wants repaired before closing.
As a buyer, if you’re on Facebook telling your friends that you gladly would have paid more for the house, you could leave yourself open to a seller holding firm when you ask for any future concessions.
Problems with the property
Sellers are required by law to disclose any known defects with a property on the Louisiana property disclosure. But if some previously unknown problem arises during the sale, sellers and buyers should be mum about what they are willing to do to remedy any issues.
Whether a seller is willing to make repairs or a buyer is willing to overlook a defect – keep it to yourself and your agent.
Concerns about the the transaction
“Those buyers just want to bleed me dry. I’m not giving my house away…”
“The sellers are making all of this money and won’t even fix….”
“My agent isn’t doing a good job….”
No matter how legitimate your questions or complaints may be, remember that the internet is a small, small world. New Orleans is even smaller.
You never know which of your friends is also friends with the buyer, the seller or any of the agents involved and could inadvertently give away some of your negotiating power with a misplaced comment.
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