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Ok, so I was talking to an agent on the phone the other day about social media and the advantage that facebook can play in Real Estate sales and negotiations. Would you believe me if I told you that you can use Facebook and Twitter to get a leg up on negotiating?

Take a look at this scenario, and you may be shocked:

So, I am a buyer who is looking to buy my first home. As many do, I am tweeting or posting the entire pre-qual, pre-approval process on facebook, and making comments like, “Bank of America just approved us for $285,000.”. Or, “My lender told me my credit was 646, and I have to pay off some debt…”. Or “I have to be out of my apartment in a week.” Or, “I’ve gotta have this house on 4th street, it’s my dream home…”

See how the seller may have the upper hand? With a public Facebook account or Twitter account, you will be able to see if they are posting any information on their home sale or purchase.

Likewise, if a seller posts a comment that “Our new house is almost complete and still no buyer in sight,” then your buyer may gain the advantage.

I have to admit, I think this is brilliant, but I am also going to learn from this. I plan to advise all of my clients upon the Pre-Mortgage approval meeting to watch what you post on FB from here forward. But it could certainly work to your advantage if you have the time to do this type of research. I’m not sure how I feel about the ethical aspects of this… But I suppose it’s not much different than a neighbor spilling the beans about a seller.

As an agent, it may not be a bad idea to make it a point to warn your clients about this and urge them to use extra caution on Facebook. But if your clients want to do their own research on Facebook and Twitter, well, it may help them.

What do you think?



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Dedicated To Your Success,
Dan