Social media awareness for buyers and sellers is also becoming increasingly revealing.
November 1, 2012
Social Media for Buyers and Sellers: By being social online, did you just give up your negotiating power?
More and more people are checking out prospective sellers and buyers online as part of their research into a home purchase or sale. Whether on twitter, linkedin, facebook, pinterest or flikr, people these days reveal a great deal about themselves.
For example, a linkedin profile will reveal where you work, your position and therefore your potential income. We can also see if you recently were promoted, if you are relocating and your potential age based on your employment history. Great information for those on the opposite side of negotiations. It can affect the price of negotiations, but it may also serve to show you are a financially strong candidate for the mortgage required for the purchase.
On facebook, pinterest and flikr, people reveal much more personal information and often don't consider their privacy settings. Have you just told the world you have sold your home and have nowhere to live in 60 days? The seller that just received your offer will be very interested to know that information. Did you just find the most amazing house that you are going to put an offer on tomorrow? Can someone else find that gem in that perfect neighbourhood based on your post and scoop if out from under you? Does your history reveal a nasty neighbour situation, an issue with your home or that you absolutely cannot stand shovelling that long driveway one more winter?
As with other aspects of privacy online, just be conscious that people may just read everything you post.
Social media has its greatest impact early in the purchase process, often before marketers start tracking potential buyers. Social media helps increase brand awareness and other brand related attributes that are difficult to track and more qualitative than quantitative.
Before I list a home I inform my sellers to adjust there privacy settings, which not only includes the sellers but the kids as well. Loose lips sink ships. Great post
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