Have you ever already been flipping through the channels, only to find yourself glued to the couch in an HGTV binge sessiion watching entire episodes of “ Like it or List it, ” “ Remodeling, ” “ House Hunters, ” “ Property Brothers, ” etc. etc?
When you’ re in the middle of your own real estate themed show marathon, you may start to think that everything you see in the news must be how it works in actual life, but you may need a reality check. These shows are mostly fiction. The clients are usually real and usually the home they pick is the one they picked albeit months prior to the show’s filming. To bust the myths of these shows (they are for ratings after all and most real estate transactions are just not that exciting) here are five primary myths:
Reality TV Show Common Myths vs . Real Life:
Myth #1: Buyers take a look at 3 homes and make a decision to buy one of them.
Reality: There may be buyers who buy the first home they find but this is rare. According to the Nationwide Association of Realtors the average homebuyer tours 10 homes as a part of their search.
Misconception #2: The houses the customers are touring are still for sale.
Truth: The reality is these shows are staged for TV and not even the homes considered when the buyers were actually looking. Many of the houses being shown are already sold and are also off the market.
Myth #3: The buyers haven’ t picked a home yet.
Truth: Since there is no chance to show the entire buying process in the 30-minute show, TV producers usually choose buyers who are further together in the process and have already chosen a house to buy. In many cases they have already closed on their home.
Myth #4: If you list your home for sale, an Open House will sell it.
Truth: This would be great if true. Open houses are important to ensure the most exposure to buyers in your area, yet are only a small piece of the overall marketing of your house. In the day of the internet most buyers find their home online and not at open houses. In fact most people going to open houses go because their Realtor can’t show them, they are not serious, or are nosy neighbors. Most of the time a home is sold from a scheduled showing with a Realtor.
Myth #5: Homeowners make a decision about selling their house after a 5-minute conversation.
Truth: Similar to the buyers pictured on the shows, many of the sellers have previously spent hours deliberating the decision in order to list their homes and move ahead with their lives/goals. Selling and buying a home is rarely taken lightly- from the decision to buy or sell to the agent to use. All should be carefully thought out and done with proper due diligence.
Getting an experienced real estate professional on your side while navigating the real estate market is the best way to ensure that you can make your perfect home a reality! Let the Monica Foster team help you with buying or selling your next home!