Does anyone or their agents practice social engineering for listing information, by deductive reasoning, from listing agents?
My agent submitted an offer for a ROE. The listing agent told my agent that they had multiple "cash" offers. This is where I did some social engineering. I called the co-listing agent. I told her I was interested in a listing you had on your website and was pre-approved for $160k (listed $150k). Then I asked her is she would help me make an offer. She said to some effect that she has two offers and the bank prefers cash buyers. Then I asked her if she had two cash offers. She said no, one cash, one financed. Bingo! I am changing my offer in hopes to get the banks attention, assuming the cash offer was at or below asking price. I will update all on the progress if it works.
Not sure what that has to do with "social engineering". A cash offer is more solid than a financed offer, so the financed offer needs to be higher to be considered.
@Wayne Brooks : From Wikipedia: "Social engineering, in the context of information security, refers to psychological manipulation of people into performing actions or divulging confidential information." I other words: "A type of confidence trick for the purpose of information gathering."
Do you ever ask the listing agent general questions to determine the best strategy for an offer? Do you try to get any information to help your buyer?
Of course we do, basic business. Just don't think it qualifies as social engineering.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!