When I take a listing I suggest to the seller that it is not a good idea to chat, with anyone, about potential buyer’s, offers received or basically anything that is going on with the sale of their house. Same goes with buyer’s. Here are some of the things that have happened to individuals I have worked with over the years and the reason that I now say this.
1. Buyer’s are really excited about having just found their “dream house”. The wife’s parents are in town and they are all going out to dinner at one of the local restaurants. The buyer and seller have never met. This couple sits down with their parents and proceed to explain to their parents about what a deal they are getting and that they did a great job negotiating the deal. They are bragging a bit but the parents are impressed and so are the selller’s at the next table who recognize the details of the transaction discussed as their home. The buyers lost the house because some of their comments made the seller angry.
2. The seller who went to work and was chatting with a co-worker. This seller has no idea who the friends of this co-worker are or that they may be looking for a house in the same community the seller lives in. The seller tells the co-worker that he is asking such and such and that an offer they received was such and such and that it was too low. The co-worker then goes and calls his friends armed with the information about the low offer and these friends then put an offer in $5000. higher where they were going to offer $25,000. higher but didn’t need to do that anymore.
3. I have seen best friends, couples, all looking in the same community, same price, same school district, think they could be mature and if the situation came along that they both liked the same house there would be no problem. These couples chatted and shared details about every single house they saw. Then comes along the exact house both couples are looking for. No more chatting and because everyone knows each other so well one couple bought the house and the other is no longer friends with the other. The house was more important than the friendship – don’t think it can’t happen. It happens.
Buyers and sellers have plenty of time to chat away about their home selling or buying experience after the closing –