You just got done touring the perfect home. Now you are standing in the kitchen talking with your realtor. You talked about how much you love it and when you need to move and what your loan officer approved you to purchase. This is all innocent enough, right? Surprise! You’re on candid micro-camera and you just gave up your ability to negotiate.
A hidden micro-camera in the house filmed your conversation. That micro-camera, connected to WIFI just shared it all. That candid micro-camera just shared every single tidbit of your information with the home sellers.
Micro-Cameras Are Everywhere
In this day and age of micro-cameras, it is your best interest to wait till you are out of the seller’s property to talk about things that will affect your negotiation. When you tour a home please watch how excited or critical you are and please do not ever share your motivation. You might accidentally cause yourself to pay more for the home if you choose to put in an offer.
Surprise! Think this can not happen, please think again.
All it takes is one micro nanny camera hidden in a teddy bear in the home you are touring.
Why a Micro Candid Camera?
Don’t discuss your terms while in a house you might want to buy. Wait until you leave. It sounds strange and many clients ask why they should not discuss their situation while touring the home.
So let’s just play this out. You’re standing in a house you really really like, it is perfect. This might very well be your new home. You think you want to put in an offer on it and your mind starts going over the date you would like to close.
Micro-Cameras Catch You Thinking Out Loud
You start to think about the move and the timing with your work. Thoughts come up about putting in your notice for time off and putting in notice with your landlord or even selling your current home. You are running over variables in your mind and want to discuss it. This is all common, you should want to talk about it with your Realtor and family and significant other.
You’re in the kitchen and you’re having a great time talking to your real estate agent. Looking at a calendar, you decide that a mid-month move will be best for you and save you money. You discuss closing fees, your vacation time, your hopes of skipping another month’s rent payment etc. All of these items are part of your motivation. This is why you will pick the closing date you are going to when you put in your offer. You hope that the seller will accept your chosen closing date.
You discuss terms such as what you’ve been approved for, let’s say you have been approved for $250,000 but the home is listed at $235,000 but you only want to offer $210,000. You continue and talk about other things like items in the house that you hope that the sellers would leave for you. You’re discussing the nitty-gritty details and what you would love to see happen with the agreement in a perfect scenario.
Now let’s pretend there’s a hidden micro-camera in that kitchen and you just told all of that important information to the seller. It’s amazing we don’t think about hidden cameras being in sellers’ homes. Yet it’s perfectly legal for a seller to put a camera up in their home and record what’s going on there. It is their home.
Home Sellers Want To Know
Can you really blame them for wanting to record the multiple different realtors traipsing through their house with multiple different buyers, who they’ve never met?
Happily, I can share I’ve never run into a situation where anything has ever been stolen out of a home. Most Realtors are honest people and they stay with their clients while they’re in the home. So we have not had problems in this area.
However, with all the civil unrest and everything that’s going on, we are starting to hear stories of more people popping up with micro-cameras.
Candid Cameras Are Nothing New
But the accessability of micro Cameras has increased greatly since the surprise video program was on Television. Today you are on video far more than you know. It has been a good idea for years now but these days especially don’t discuss your terms while you’re in the house. I highly recommend to all of my clients to wait to discuss terms and confidential information until we leave the seller’s home.
When you go into the house the first thing you want to do is remove your shoes. You want to be respectful of the homeowner’s home, plus if you are going to buy the house you don’t want to get dirt on your new carpet, right?
As you go through ,if you want to say “Hey! that’s a nice feature…” or “I like that wall color.” that kind of thing is fine. Absolutely, you can make comments like that while you’re in the house.
Information Has Value
So when you start getting into terms, such as how much you can afford when you want to close, whether or not you’re furniture will fit, etc… These are all hardcore buying signs. If you’re standing in the middle of the living room sharing all this in front of a candid camera… Surprise! You just told the sellers everything.
If you start going into why this is absolutely the house you are going to buy and none of the others will work, they know they have you. When you told them you were actually approved for $40,000 more than you want to offer, you just did yourself in. You will now not be able to negotiate as hard as you would like to under normal circumstances.
They know you can afford to pay full price because you told them.
Candid Talk Can Cost You
Now the home sellers will not be inclined to accept your offer that’s under their asking price. You and your Realtor can and should discuss a reasonable offer after you leave. You can also discuss what you saw on their property telling you the seller’s motivation for selling and why they are moving. Remember Information has value for both a homebuyer and for the homeseller.
Discussions on what you are able to afford, your approval letter, and all of the fine details need to stay confidential. Be careful on social media too.
Sharing on Facebook and getting your confidential information leaked to the sellers in other ways can be just as damaging to your negotiating position. People like to share information, please do not share anything that might cost you. Buying a home is an event filled process you will have plenty to share with friends.
Don’t Let A Micro-Camera Surprise Turn Macro
Keep your confidential information confidential. Wait to discuss important details until you are in private with the people who need to know now. Make sure that you are not giving away information when you’re touring homes for sale. Candid cameras do exist in homes, don’t get surprised. Be aware and keep your negotiating strength.
If you are relocating to central Minnesota check out all the wonderful reasons to love St Cloud. It is a beautiful area full of things to do and lots of great houses. I would welcome the opportunity to help you find your perfect place here. Browse my website for more information about buying or selling a home, or property in the Central Minnesota real estate market.
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