In a world of ever increasing ease because of technology we don’t always think that it can hurt us as well. Consider this when touring homes as a buyer, even if it’s just an open house. Home cameras, both inside and outside, are increasingly becoming the norm. If you are touring a home as a buyer be sure that when you are discussing the home with someone else, including your agent, you aren’t being recorded. In most cases this isn’t happening secretly, many of these cameras are right out in the open. What buyers don’t realize though is that they are being recorded and potentially giving away their negotiating position.
Here’s an example of how it helped a seller we worked with:
In June of last year (2017) we listed a home in Sandy, UT that had home security cameras. In reality the home owners put the cameras up to watch their kids and dogs and not home buyers. However, because they are always on the sellers captured everything buyers were saying, both good and bad about the house. This helped the owners get valuable feedback about their home, but it also helped them in their negotiations with their end buyer.
Because the cameras were also capturing all of the conversations after the house was under contract and during inspections and appraisals the sellers were in a good negotiating position. When it came time for the buyers to try and negotiate concessions because of what was found in the inspection the sellers already knew the buyers were going to take the house, regardless of what was asked for by the buyers. Why, because of the cameras!
Now, were the sellers going to still sell the house to the buyers even though they knew their position? Of course they were, they were strong buyers with a good offer and it made sense for both parties. But the sellers also knew they didn’t have to break their back on the 70 things the buyers requested after the inspection. The sellers knew the buyers were going to take the house no matter what because of what was captured on camera. That information put the sellers in a better position all the way around.
Always be aware of your surroundings when touring a home, when inspecting a home and when negotiating a contract!