Taking Negotiating to a Whole New Level

Recently, my wife and I successfully negotiated the sale of our home. While I took a negotiations course in college and have always been fond of the process, this most recent experience brought me to the realization that negotiations and the collection of information used in those negotiations has changed dramatically over the last decade.

With the Internet now providing various forms of background, personal, business, and financial information about individuals and organizations, you might be surprised by what is out there to help you -- or in some cases hurt you -- during your negotiating process.

"Beware -- Take Care -- Beware"

The above quote isn't just a Bela Legosi line from Ed Wood's movie Glen or Glenda, it can also be applicable to what you or others post on the Internet. What or where you post on the Internet can come back to bite you royally when you least expect it.

Beyond just some poorly chosen pictures on your social networking site that a prospective employer might be seeing, the information regarding your living, personal or work situation can divulge valuable information that could be used by others, not necessarily to go so far as to steal your identity or financial information, but for the valuable input it could provide during the negotiating process.

Social Networking Sites

Social networking sites can open up a whole world of information to someone looking for a slight leg up during a negotiating process. From a person's interests in music, television, movies, and more, to who their employer is, what they look like, pictures of their home, and similar tidbits of information, that while seemingly meaningless to some, can provide snapshots of data that can form a picture of this person and how he or she lives, plays, and works. You may even obtain educational and work history from such sites, which can provide information about annual earnings estimates, work ethic, and periods of unemployment.

Employer Sites

Employer related websites could reveal more about you than you'd expected. From interests and work history to educational background, awards, and philanthropic activities, an employer singing your praises could give those negotiating against you valuable bullets to fire during the negotiating process.

Knowing that you're a "nice guy" and willing to do work in the community or that you had the highest sales record in the company last year and may therefore have received a hefty paycheck or bonus could give those you are negotiating against just a little more leverage in how far they feel they can push you when making a deal.

Living Situation

It truly is amazing just how much information is out there these days about homes and home history simply by typing the address of a home into an Internet search engine. From a rundown on the type of neighborhood in which the home is located, to the sales history, prices, square footage, length of time a home has been on the market, prices of area homes in general, pictures of the home itself, estimated sales or rent pricing, tax rates and payment history, such information can often be obtained quickly and free of charge.

This information could help form a picture of just how desperate a homeowner is to sell, how much money they stand to gain or lose on a home, if their neighborhood is in decline, whether they have children, the quality of the space in which they lived, whether they've paid their property taxes, and similarly telling details that can provide an advantage during negotiations.

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Disclaimer:

The author is not a licensed financial professional. The information provided in this article is for informational purposes only and does not constitute legal or financial advice. Any action taken by the reader due to the information provided in this article is solely at the reader's discretion.