By John Stemlar
A recent Facebook post showed a photo of a house along with “I Love this house! I put an offer in today. Hope I get it !!!” In addition to the dozens of likes, the back-and-forth comments revealed how the poster (not our client) had lost out on two other homes that she had made offers on and that she was “determined to get this one.”
Brookhaven is a small city that is made even smaller by social media. In going social with her home purchase transaction, this homebuyer could have severely crippled her negotiating power. If the seller became privy to her desperation to get the house, the cards would have been tipped heavily in the seller’s favor in terms of negotiating the contract and any inspection-related repairs. Worse yet, this buyer would have no idea that the seller had inside information.
Sellers are also known to carelessly share with their friends and neighbors information about their home, their selling motivations and the sale transaction. A savvy agent looks for ways to gain negotiating leverage; it’s surprising what your neighbors will innocently share in a “driveway conversation” with a friendly buyer’s agent.
As a homebuyer or seller, the less information that you share concerning your home purchase or sale, the better. It’s just too easy for innocently shared information to get to the wrong person and compromise your negotiating power.
John Stemlar is a Principal and the Managing Broker of Sage Real Estate Advisors, a boutique Atlanta residential brokerage. He also promotes Brookhaven’s Lynwood Park and homes for sale in Lynwood Park at www.LynwoodParkHomes.com.