6 Things Reality Shows Get Wrong About Real Estate
If you love binge watching on TV (like we all do), Then you probably watched some of the reality shows that focus on real estate deals, transactions, renovations and everything in between. You have probably seen one of their staged scenarios that made our curiosity want to know who will buy a crumbling mansion in front of the beach in some place in California or even renovate a whole house in 5 days.
Real Estate reality tv is fun. It will always want you to ask questions like how they are going to fix it in a short time frame or even who even has the money to buy this mega-mansion for a 100 million?
So what’s the actual reality? Here’s what we think you should consider the next time you tune in:
1. Sales don’t close as fast as you see on TV
It’s just not as fast as you think it is. Especially to the 1st time home buyers, there are a lot of details, documents, negotiating and counter-offers which take days or even weeks to get or agreed to. it’s not like in the tv shows where closing is as fast as sitting down with someone and finish it off with a handshake and smiles.
2. Sometimes home closing fails which you never see on TV
Real estate professionals face failures almost every day and it’s a part of the game. Not like in reality shows which always ends in a happy ending but in reality about one in every four offers on a home in Las Vegas falls out of escrow in many possible reasons.
Which you will never see in reality tv shows.
3. The house hunting scenes are far from reality
House hunting as shown on tv is far from reality it’s not like where you can just have a stroll in a neighborhood unannounced and knock on doors and asked the homeowner that you want to buy their house and that’s it. No, it is not like that there are processes that you need to do first before knocking on a door. But hey sometimes it works but most of the time will be a no.
4. TV shows misinterpret the real work of the agents
TV shows need drama and that’s what they feed on. Reality tv shows don’t deter the negative image of real estate professionals. Some scenes show agent doing absolutely nothing and earning a fortune. The truth is the work of a real estate agent doesn’t stop once the showing is done. Their work can be very tedious and too boring for tv.
5. Renovations are easy and cheap
Reality tv shows tend to stretch the truth in some cases. Which ads drama and materials that make us want to tune in and feed on. But the truth in some of the house renovations shows which their agents will ask them to buy a fixer-upper house with their help is that
They don’t really mention how labor intensive and how much effort you need to put on a fixer-upper house and budgets is a big factor too.
Contractors have complained that the shows are giving a wrong idea to the homeowners on what to expect in their home renovation. Homeowners now want to do it with a small time frame with low budget thinking that it’s the same process they see on TV.
6. Location isn’t a big factor
We all see an episode of our favorite real estate reality show that the homebuyers bought the house because of the house’s visual appearance or because it has an all granite kitchen and not factoring that it is a 50 minute commute to their work or even checking the school or walk scores which is a must to consider in buying a new house.
To sum up reality tv shows are made for our entertainment and they sure do are entertaining. But it shouldn’t give you a false impression on how the real process of home buying, renovation or house hunting. You can always ask a real estate agent or broker on what to expect and most real estate agents do not charge for the consultation.