I recently came across a situation where the widely expanded use of social network sites can create some problems. The buyer of a property decided to post his negotiating strategy on his Facebook wall. Unbeknownst to each other, the buyer and seller had a mutual friend, so the seller could see the buyer’s Facebook page. The buyers had posted that they really liked the home, and were willing to go up to $xxxxx for it. When they made a lower offer, the seller refused to come down in price knowing what the buyer was really willing to pay.
This is a good reminder that what is posted on public sites is, in fact, public - and could come back to haunt as it did in this case. Developing negotiating strategies is one of the important values we bring to real estate transactions. Confidentiality is a key component of this process, something that we guard very carefully. This example reminded me how important that can be.
Thanks for helping me better serve our real estate community.
Image Courtesy: Microsoft Office Online
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