By Peter Ricci
Well, it’s here – after gorging on delicious helpings of turkey and potatoes on Thanksgiving, it’s now time to splurge on televisions, clothing, DVDs and various home furnishings on Black Friday, the official start of the Christmas shopping season.
The vast majority of you, like most Americans, will be out shopping and enjoying yourselves, but are any of you considering using the long weekend to show homes, host open houses or work on developing leads? To answer that question, we’re taking some time on this busy day to look at the pros and cons of Black Friday real estate.
Real Estate & Black Friday: The Pros
Though it may sound crazy, there are some unorthodox advantages to working your real estate business through Black Friday, including:
Minimal Competition: Remember when we wrote, just now, that most of America will be out today shopping and recovering from its Thanksgiving cuisine? That could be used to your advantage, because most agents will be out having fun as well. For the consumers who are interested in real estate over this long weekend, you could have an edge as one of the few agents still out working, and could generate some great leads and find some great clients (this was the main reason cited by agents in a Realtor.com survey on working during Black Friday).
Shopping Bliss: And another thing about those consumers – chances are, they are in the mood to make purchases. As this delightful piece by Live Science explains, Black Friday appeals to our very human nature, instincts that we first developed as hunters and gathers thousands of years ago. Of course, we’re not saying that evolutionary impulses will grant you a sale over this weekend, but if you’re out promoting your properties, you could find the right kind of client at the right moment!
Real Estate & Black Friday: The Cons
Minimal Supply: Now, the flip-side of that first argument – there will not be many people looking for homes during this weekend. After all, you don’t see Black Friday ads for homes or mortgages; rather, you see them for televisions, blu-ray players and furniture. There are quite a few consumers out there, so it’d be unfair to say they all want electronics and home furnishings, but the vast majority will be concerned with those items.
So, what do you think? Are there simply too few prospective homebuyers out there this weekend to warrant your time, or, given the caliber of buyers who may be looking, is this a case of quality over quantity?