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WHAT DOES BLACK FRIDAY HAVE TO DO WITH REAL ESTATE? EVERYTHING, EXCEPT THE ABILITY TO "CLOSE THE TRANSACTION"!

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

BLACK FRIDAY CAN, INDEED, BE RELATED TO ESTATE.  However, the differences may exceed the similarities.

Inspired by an article by Lola Audu about Black Friday.  Is there "pent up demand" for real estate?  Probably.  That said, buying real estate is quite different from retail purchases. 

Buying a sweater is a quick SIMPLE point of sale purchase transaction.
Buying a HOME is a process that is not a quick or simple transaction.  It's a complicated PROCESS.

Black Friday was all about "Point of Sale" transactions. 

We want,
We shop,
We find,
We exchange money for goods.

That's a "Point of Sale" transaction.  Buying real estate is quite different. 

So, Lenn, what's the point?  Point is, there are significant differences between "point of sale" retail purchases and real estate transactions.

We want,Home buyers
We shop,
We find,
We agree to buy,
We negotiate,
We agree on price and terms,
We process financing,
We finalize purchase agreement,
We exchange money for deed.

Sometimes the property purchased doesn't transfer until the land is "improved", which may delay the final transfer or exchange of money for the deed.

Buying real estate is a unique process in the U.S. and the process is, hopefully, not subject to an "impulse purchase" on which many retailers relied on Black Friday.

Merchants rely on Black Friday sales to bring their balance sheet into the "BLACK" or profit for the year.   Why not??  Most consumers have considerable EXPERIENCE with point of sale transactions. 

MOST HOME BUYERS HAVE LITTLE TO NO EXPERIENCE WITH REAL ESTATE TRANSACTIONS, 
and if they are wise, seek the advice and help (representation) of an experienced real estate agent or real estate broker. 

Just what is the "experience" of the home buyer in the market today,

May have purchased one or more homes,Home buyers
Likely to begin their research on the Internet,
Will see Internet advertisers based on the site SEO, not the experience of the agent advertising,
May tour a high ranking web site and contact the agent advertising,
If the site holds their interest (well constructed), the consumer may contact the agent/advertiser, THEN - -
If the site owner, the agent, manages their web site traffic well (ANSWERS THEIR PHONE AND/OR E-MAIL), that agent may "connect" with the home buyer and acquire a buyer customer or client.

Finding a home to buy that satisfies the buyer's wishes is a lot harder than finding a sweater to buy. 

WHICH IS, OF COURSE, WHY THERE ARE REAL ESTATE COMPANIES that offer help to home buyers.  Working with an EXPERIENCED real estate agent will help a home buyer Locate homes for sale that meet their criteria (or as close to it as price, location, condition will permit).

Buyer's Agents also:
Assist with the financing, inspections, title/closing process based on the agent's experience with:

*Numerous closed transactions
*Continuing education to enhance the agent's knowledge base
*Availability to guide a home buyer through the very complicated process of buying a home.

Buying a sweater is fun for a limited time.  Go buy a sweater and heve some fun.
Buying a home may be a life changing experience.  Seek experienced help with this complicated transaction.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

A MESSAGE FOR HOME BUYERS IN LOUDOUN COUNTY, VIRGINIA.

WE ARE BUYERS AGENTS IN LOUDOUN COUNTY VIRGINIA.  WE KNOW ALDIE REAL ESTATE, NEW AND RESALES.  Our way of saying THANKS to our home buyers is a 1% Cash to You REBATE at settlement. 

WHEN EXPERIENCE COUNTS, home buyers will enjoy our many years of serving home buyers in Northern Virginia for over 25 years.  We provide buyers with . . .
* Comprehensive home searches,
* Personal tours of homes for sale,  
* Comparative Market Analysis for homes under consideration,
* Experienced financial analysis to help you understand different loan opportunities,
* Personally manage home inspections, termite inspections, settlement meetings,
AND MUCH, MUCH MORE.

Lenn      search     

Lenn Harley, Broker, Homefinders.com, 800-711-7988

HOMEFINDERS VIDEO 

For a tour of homes in your location of choice in Loudoun County, contact Homefinders.com.  We'll arrange a wonderful tour and you can get to know the county, shopping, recreation, the real estate market and the hardest working Buyer's Agents in the area. 

Ask about NO DOWN PAYMENT loans up to $1,000,000 with  to help with closing costs help when you buy a home in Loudoun County with the help of a Homefinders.com Buyer's Agent.  We can help. 

ASK ABOUT THE HOMEFINDERS.COM HOME BUYER'S REBATE OF 1% OF THE PURCHASE PRICE OF THE HOME YOU DECIDE TO BUY - ANYWHERE IN LOUDOUN COUNTY, VIRGINIA.

Lovettsville Homes and real estate
Loudoun County Homes and Real Estate

New Homes Loudoun County VA
Leesburg Real Estate

 

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Comments(15)

Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Maybe there should be a Mortgage Monday instead of Cyber Monday!  That way people's thoughts could turn to real estate! 

Works for me...

Nov 29, 2011 12:23 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Groceries we shop for weekly ( or even more with college kids home grazing during summers) But real estate happens right on time due to life events... expanding family, job loss, divorce, relocation, retirement, vacation investment desires, etc. Over the holidays family are warming their hands around glowing computer lap tops, desk tops and making decisions on moves, sales that involve real estate, you and I.

Nov 29, 2011 12:30 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

I love Jay's idea of a Mortgage Monday!  He might be on to something big!

Nov 29, 2011 12:30 AM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Wxcellent points, Lenn.  Because the process is so complicated, that's why there are agents.  There is value there that the agents provide.  (also, BTW, how many personal shoppers are still around?)

Nov 29, 2011 12:45 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Jay.  HA!  If we had a "mortgage Monday", we could then have a "settlement Tuesday".   As it is, we often have a "mortgage Monday in July, Aug, Sept., etc, etc."

Andrew.  Indeed.  Life events spur real estate sales.

Paula.  If only. . .

Debbie.  Complicated it is and that's why folks will benefit when working with us, although some may not know it.

 

Nov 29, 2011 12:51 AM
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Lenn-Excellent points on using a Realtor. Why some people try and struggle with trying to buy a home on their own, and not seeking the advice of an experience real estate professional is beyond me. My last house I bought a few years I used a Realtor, and I sold real estate for over 12 years before going into appraising.

Have an AWESOME day!

Nov 29, 2011 01:36 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

I have to agree with you Lenn..there really isn't any comparison with Black Friday and home selling except for the fact that homes should be available for showing on Black Friday.  

I like the idea of a Mortgage Monday or some cool thing like that to spur those home buyers who are able and qualified to buy out into the market :)!

Nov 29, 2011 02:12 AM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Think Big Work Small had in their online show today an excerpt about offering Black Friday sales on real estate.  Do something different to get customers in your door.

Nov 29, 2011 02:53 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Lenn, so many consumers think that buying a home should be fun. There may be fun moments in the process, but generally fun isn't a word I'd attach to it! Go buy the sweater instead! LOL

Nov 29, 2011 04:17 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Michael.  I too used an agent when I sold my home in Bethesda in 1995.  Never regretted it.   Could I have done it myself??  Of course.  However, I would also have lost valuable time and incurred a lot of risk.

Brenda.  Sounds intriguing, but a mortgaga doesn't "sell" quickly. 

Rob.  We must do something different to rise above the crowd if you rely on Internet business as do I.

Connie.  Agreed.  I make buying a home an "adventure" for buyers.  Fun??  I doubt it.

Nov 29, 2011 07:04 AM
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Unfortunately (for us), real estate is seldom a spur of the moment decision. Shopping, qualifying, negotiating all give the buyer time to come to his/her senses or just plain old panic and back out.

Nov 29, 2011 07:25 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Than.  Indeed.  Folks don't tend to "panic" when buying a pair of shoes.

Nov 29, 2011 08:20 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Buying a home is made harder by many people.  A lot of times it is because they don'e cooperate witht he rest of the people in the transaction.

Nov 29, 2011 10:08 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

William.  HA!  They probably don't cooperate with others any other time either.

Nov 29, 2011 10:50 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Lenn

It's very challenging for a buyer to attempt to buy a home without a professional.

Good luck and success.

Lou Ludwig

Nov 29, 2011 02:28 PM