Source: The Straits Times
The last Friday of November is known worldwide as Black Friday. It is also the day after Thanksgiving, which is celebrated in the US on the last Thursday of November. Black Friday is also the start of a three day period where incredible discounts are offered by merchants / retailers to generate sales. It is the biggest shopping event of the year all over the world and it starts from Friday and over the weekend till Cyber Monday, which is the Monday following Thanksgiving.
And while Black Friday is not as big as it is in the west, many Singapore retailers and companies, as well as consumers take advantage of it.
Usually, Black Friday deals offer bargains galore on everything from flat-screen TVs to smartphones, to household appliances and many many more. But does it make sense to offer a Black Friday deal on a property?
If you are selling your property, it makes sense to do so during Black Friday. Why? You ask as you probably would not be offering a hefty discount off the selling price of your property. For a start, this is the beginning of the long year-end school break. You will likely face less people selling their properties as many families will on leave and travelling for their holidays. Except that during this COVID-19 pandemic, travelling is restricted to countries with Air-Travel-Bubble (ATB) agreements with Singapore.
Still, many will be asked to expend their annual leave or risk forfeiting it. Many parents will be spending quality time with their school going kids either on staycations or trips to local attractions. With the Singapore government giving all adult Singaporeans $100 worth of SingapoRediscovers vouchers from 1st December, you can be sure families will be out in force at hotels and tourist attractions, safe distancing observed of course. So the number of properties listed for sale may not be as high as compared to, say the months of March to July which usually are the peak periods for the real estate industry.
In addition, year-end is the time when companies give out bonuses and increments, though it may be tougher this year due to the on-going pandemic. There are some sectors of the economy that are doing extremely well and those working in these sectors will be well-positioned to invest in a new property.
Listing your property for sale on Black Friday is also advantageous, as many people will be doing their shopping on digital platforms. Generally, during this particular weekend, consumers have higher trust in the deals they find online - something that your real estate business can definitely benefit from, not just on sales, but also in building your business recall and credibility.
With this in mind, you can help ease your potential buyer's decision-making process by including a virtual tour video of the property and list it on a smart search portals. MOGUL.sg offers a geospatial search function that allows serious buyers to find your property listing within seconds.
Since this is a Black Friday sale, you can offer a slight percentage discount off the market value to entice buyers to commit immediately or you can offer a slightly higher commission to your marketing agent to incentivise them to market your property aggressively.
Black Friday the biggest sale event of the year where lots of transactions are done. So if you are thinking of selling your property, market it during this occasion and transact fast.
Start Listing your property in Singapore's Smartest Property Portal, MOGUL.sg.