Casual Chitchat Can Cost Money On Real Estate Deals

The agent in Cory Brewer's Mercer Island, Wash., RE/MAX office received an offer that was far below his client's asking price. But before the contract could be presented to the seller, the would-be buyers posted on their Facebook page how badly they wanted the house and how much they really were willing to pay.

Oops! Bad move. The seller saw the posting and countered at the higher price. The buyers accepted because they loved the place that much, and the deal closed a few weeks later.

The moral to this little tale: When it comes to something you would rather the other side not know, treat them like the enemy and keep your yap shut. Or, as Brewer advises, "Don't talk publicly about what's in your real estate contract, at least not until afterward. You never know when something you say might come back to bite you."

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