Tuesday, November 12, 2019

Post For A Real Estate Solution, Not The Problem

With thousands of dollars at stake, it is not a good idea to post about a problem situation. You could be tipping your hand.

The situation described in the (below) link is another example. If I saw the post and my office is more than 2,000 miles away, there is no telling how many local people saw this and now have information which could benefit them and not the party which posted.

This post deals with an unfortunate situation where a home buyer moved in to a community only to then find out that a developer is buying up homes in quantity nearby to rebuild for their benefit. Now these new owners are asking for suggestions on a public real estate forum.

They want to be able to have local developers bid for their property. There are not any visible comments (as of press time) following this post. No surprise here. As generous and helpful as some people are, it is highly unlikely that anyone would comment publicly on strategy.

Instead, it would not be surprising to have had a couple of area developers contact this party with offers lower than what they would normally pay. The person behind this post could very well have lost out on thousands of dollars because they posted their motivation online where "anybody" could see it.

Furthermore, there are several real estate investor sites which also have forums such as this for people to post specific questions and problems. This example from Seattle is far from the only time we see this sort of thing happen. There are lessons to take from this.

A home owner should always have a network of contacts and know how to use them. This is whether you have owned your home for two weeks or thirty years. Instead of putting out in public, the person behind this post should have known who they could ask privately. Not on a public forum.

If this home owner had, or utilized, his/her contact list instead, all he/she needed to do was ask around for an agent that works with local developers. That agent would then want to get the highest price (and commission) and would have the skills to attract the right developers and coordinate the process.

On the other hand, if this person did not have a network of contacts to help with this situation, they could have posted like in the above paragraph. A simple, "Looking for an agent to work with developers in (neighborhood)" post could have brought a similar result.

With this post and forum, it is not likely that we will know how this specific situation does or does not play out.

However, the lesson of not posting the problem, instead posting for the desired solution in a non-revealing way, goes for all of us.


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