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What If Real Estate Had A Black Friday?

By
Real Estate Agent with Kimberly Howell Properties (210) 646-HOME

A busy day at Staples on Black Friday.

photo courtesy of crd!

Let the madness ensue.

I'm not much of a fan of Black Friday, I can't remember the last time I actually went out for it.  My wife braved a few crowds today and actually wound up buying a few things we needed, but I stayed home.  What I did do was work on my real estate business plan for the coming month and into 2010.  One of my goals is to get more listings.  I like listings and want to build up a constant flow of them.  Not just because I've heard the "you have to list to last" style quotes, but mainly because I love the process of listing, marketing, negotiating, and selling a home.  There's a certain excitement with that aspect of real estate for me.

Of course, I was a bit distracted today, because I still feel like I'm in holiday mode.  So although I did a lot on my plans for the future, my mind did wander some.  Since today is Black Friday, my thoughts crossed over each other and melded into one.  What if real estate had a Black Friday?

I know, I know - it's a pretty ridiculous thought as we're comparing apples to skyscrapers here, but it would be interesting to see what happened if it became a staple of life much like our retail world's Black Friday.  Would home buyers wait until the magic date to buy?  Or would we continue on a semi-normal real estate pace only to have one day of sheer madness?  Would sellers refuse to list their homes, knowing they had to sell for discounted rates or would they opt to take the easy almost-guaranteed sale on the infamous day?  All questions I'm sure I'll never find an answer to, but something fun to ponder.

If you went out today, I hope you picked up the items you needed and wanted at great prices.  If like me, you stayed at home, I hope you didn't have too many crazy thoughts like I did about real estate and Black Friday.

Show All Comments
Melinda (Mel) Peterson
Grants Pass, OR - Bend, OR
The Savvy Broker - ABR, CRS

A Real Estate Black Friday ~ I like the sound of that!

Nov 27, 2009 10:26 AM
Brian Lee Burke
Kenna Real Estate - Lone Tree, CO
Broker & Advising Expert-Kenna Luxury Real Estate

Matt - I just thought about this yesterday - dang! but I think a black friday open house sounds tempting. Besides I think that media would pick it up too as nobody else is doing it. Except Todd in Oregon as I just read his post about it. ~Rita

Nov 27, 2009 10:42 AM
Frank Kliewer
Woodinville, WA

Hi Matt, How about a triple witching black season for real estate. Historic low rates, home buyer tax credit, and low prices with outstanding inventory all at the same time?

Nov 27, 2009 11:13 AM
Joel Prince
The Principle Group, Inc - Hixson, TN
Hixson/Soddy Real Estate Broker

Hey, in this economy -- we could use several black Fridays.

Nov 27, 2009 11:56 AM
Marie Westerman
Blanchard and Calhoun Real Estate/ Wilson Parker Homes - Evans, GA
New Homes Sales Specialist Evans GA REALTOR

I have never done a black Friday, I too worked today wrote a offer and not at 60% off!! I think I would love a Real Estate Black Friday!!

Nov 27, 2009 12:15 PM
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

I hope black Friday was good for the economy.  Right now, we just need to get the buyers to make decent offers and close the contract.  I actually took the day off and spent time with the family.

Nov 27, 2009 01:24 PM
Shana Haugen
Century 21 - Gold Key - Fargo, ND

I am imagining a group of people lined up outside of a high rise at 4AM waiting to rush the doors for a discount.  That would be pretty spectacular!

Nov 27, 2009 02:37 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

HeeHee!  I took two very serious buyers out today to look at a final selection each and told hubby when I left that this was going to be my Black Friday--write to Offers the day after Thanksgiving.  It doesn't get any better than that!!

Have a wonderful weekend...

Nov 27, 2009 03:52 PM
June Tassillo
Owner/Broker RE/MAX Elite Realty - Franklin, NC
Let me help you with the next phase of your life!

Matt ~  I don't do Black Fri. either, I was at work attempting to do the same as you.  Gathering info for 2010 goals.  Husband about begged me to stay home and I was so excited when the phone rang and I got a walk in client that has bought land from us before.   

Nov 27, 2009 09:06 PM
Judith Sinnard
SMARTePLANS; Houston, Texas - Houston, TX
The SMARTePLAN Lady

Matt, As "the system" becomes more digitized I don't think a clearing-house day for homes is all that far fetched.

I can foresee an online auction situation set for a specific day ... maybe once a year? or more frequently ... where buyers opt in and set a minimum bid. Thirty? Sixty days in advance the homes to participate are advertised so people can check them out ...maybe some sort of detailed "auction sheet" is uploaded onto MLS with set standards for a level of marketing ... ie. specific number of photos, etc.   

Some of this may be going on now, but generally I think it is for distressed properties. I'm thinking more along the lines of "regular people" with their house on the market for a time that is not moving ... can opt in, and the most streamlined way to do that would be to auction several properties all in the same day ... a Black Friday .... although I think a better name may be more productive!

Nov 28, 2009 01:07 AM
Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Matt:

I like the concept of having a black Friday in Real Estate, good luck with getting more listings in 2010.

Nov 28, 2009 01:53 AM
Frank Harris
Keller Williams Realty Centre - Columbia, MD

This is what all the banks should do with their foreclosures, have a blow out... Hire temp workers to make sure the processing is done timely and clean house.

Nov 28, 2009 06:10 AM
Aaron Vaughn 830-358-0455
Conifer Builders LLC - Canyon Lake, TX

This black friday post isn't as interesting as mine was, but it's still food for thought. Junk food, but still food. Thanks for sharing.

Nov 29, 2009 01:47 AM
Team Honeycutt
Allen Tate - Concord, NC

Black Friday,  who in their right mind would enjoy that.  I guess I did because love it or hate it I ended up there.

shelton

Nov 30, 2009 05:41 AM
Carissa Acker
Real Estate by Design with Keller Williams Realty - Denton, TX

You know, if you start the movement, I'll jump on the bandwagon! Count me in!  Could you imagine trying to close on all those houses and working all those deals at one time!?  Chaos, I love it!

Nov 30, 2009 06:53 AM
Rachelle McMahan
Golf Savings Bank - Grants Pass, OR

I've never done Black Friday but yours is a good idea.  Just hope potential buyers don't take the term "door busters" literally!

Nov 30, 2009 01:39 PM
Olga Diaz
COLDWELL BANKER TOMLINSON - Pullman, WA
Potter, Mng Broker, CRS, ASP, ePRO, ABR

Matt!  What a great idea!  I like it.  It would be a wild day with many  buyers expecting low, low prices and super incredible deal.  Hmmm...sounds like what we're experiencing now, doesn't it?  Thanks for the post and have a great afternoon!

Dec 02, 2009 08:14 AM
Jody Keating
Jody Keating Connective Realty,LLC, Bryan/College Station,TX - Bryan, TX
Broker/MM/Realtor, Bryan / College Station, TX

Matt,

I did black Friday for the first time ever this year. I always thought the idea of throngs of shoppers fighting over a few items was crazy but I have to say it was actually a whole lot of fun and not nearly as mad as I thought it would be.

But your idea of a real estate black friday is brillant. Throngs of eager buyers lining up outside a few homes for sale, that have slashed their prices and as soon as the door opens offers come flooding in. Oooh I think I like that!

:)

Dec 02, 2009 01:51 PM
Team Honeycutt
Allen Tate - Concord, NC

I ventured out into the cloud of black friday myself this year.  For some reason my son wanted the experience.  Wow what an experience.

shelton

Dec 03, 2009 12:53 AM
Margaret Barnes
Windermere Investors Marketplace, Jacksonville, Oregon - Jacksonville, OR
ABR, GRI, Jacksonville, Oregon

Black Friday at least four times a year for short sales would be my vote, then maybe we could get some of them closed. Get the banks geared up for sale day, get 'em GONE! Good post.

Dec 03, 2009 08:12 AM
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