Have you ever seen a friend or family member post on social media about their home purchase or sale? I certainly have! Sometimes those posts include information that could benefit one party to the transaction. This is why I strongly recommend changing your privacy settings on social platforms, especially Facebook, so only your friends can see your posts. Not public or friends of friends.
I often look up the other party to a transaction on social media. I try to get an idea of who they are and hope that I luck out by finding a post that says they found the home of their dreams. Great, now I know my seller has a stronger negotiating position because someone has declared to the world of Facebook that they love my listing. Maybe they posted they’ve moved out of state and posted a photo of that new home they just bought. Super, now I know you are likely quite motivated to sell.
Other agents are also looking you up on social media. By changing your settings, they won’t be able to see your personal information. Since you are working with me, you are not going to post about your home search or purchase until after the closing anyway. Correct?!
We are all learning with social media that revealing too much personal information can lead to unintended consequences. There is already an issue with wire fraud and people posing as real estate agents to trick buyers into wiring funds to the wrong account. Let’s not make it easier for them to track down buyers and sellers by blasting that on social media. Keep it under wraps and then, post closing, have at it!