South Africans love a good deal. So it’s no surprise the Black Friday Index, powered by World Wide Worx research, has found that the Black Friday to Cyber Monday period is the most powerful retail window of the year.
While shoppers swarm stores and websites buckle from increased traffic, the buzz in the property industry stops at the front door. A recent Prop Data poll found that 67.4% of property practitioners believe Black Friday promotions don’t work in real estate. For an industry built on long-term investment and trust, it seems quick discounts and flash deals just don’t have the same pull.
In 2024, South Africans eagerly grabbed Black Friday deals, splurging not just on groceries but also on electronics, clothing, and health products. Reporting by the Daily Maverick shows the period broke records, with over R30 billion spent across just three major banks. Nedbank alone processed more than R3 billion in settlements, a 12% increase from their previous high.
Despite this consumer surge, property practitioners remain unconvinced. As Jan-Louis Thomas, National Training Manager of Century 21 South Africa, explains, “Investing in real estate is a high-value, long-term investment, and usually the biggest purchase a person ever makes. For most people, this also represents their most valuable asset. It is therefore difficult to stage a one-day flash sale on real estate, as it rarely sways buyers. The buying process takes far more consideration than buying a consumer item.”
He says that the traditional Black Friday hype may not convert to property sales. “Black Friday-style promotions can backfire, with buyers potentially delaying decisions in anticipation of discounts. This approach can also attract bargain hunters rather than serious buyers, and may prevent sellers from achieving a reasonable price, especially in a challenging economy with high interest rates,” he adds.
Lesley Saunders, Head of Marketing at Broll Auctions and Sales, echoes this view: “Black Friday in South Africa is largely a marketing gimmick rather than a true discount period, unlike in the US or UK. In real estate, it’s difficult to drastically reduce prices, especially in the distressed sales sector, so the ‘massive deal’ perception doesn’t really translate. Buyers are also more cautious and less impulsive when it comes to property, which can make the Black Friday approach less compelling.”
Given the challenges of translating retail-style deals to property, it’s no surprise that many property practitioners will be sitting out the sale. According to a Prop Data poll, 60.9% said they would not be running Black Friday promotions this year.
“In real estate, attempts to mimic retail style discounts are often ‘drowned out by the noise’ of major retailers’ big budget Black Friday marketing,” shares Thomas. “A small commission cut or waived attorney fee on a house purchase gains little traction amid the nationwide shopping frenzy."
Lesley Saunders adds that credibility is another key consideration. “Most practitioners recognise that consumers expect genuine savings, and in real estate, these are not always feasible. Running a promotion that seems forced or inauthentic could risk damaging credibility. Many professionals prefer to focus on long-term marketing strategies and relationship-building rather than short-term gimmicks,” she says.
Even though many agencies are skipping Black Friday, some practitioners are weighing their options. For the 28.3% on the fence according to the poll, it’s still possible to approach it strategically and avoid the common pitfalls. Here are questions to ask:
By answering these questions, you can tackle Black Friday with intention and turn a busy retail period into a focused marketing opportunity rather than a risky experiment.