7 Myths About Real Estate Reality TV That Can Hurt Your Business

7 Myths About Real Estate Reality TV That Can Hurt Your Business

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Since HGTV became a network, real estate reality television is currently at the height of its appeal. Popular television programs like Million Dollar Listing and Selling Sunset promote the idea that real estate is a posh, quick, and simple profession that will make you and your clients billionaires.

It's understandable why real estate professionals encounter clients who anticipate having their house sold in a matter of days, complete with pricey staging and an opening celebration. Every real estate reality show is built on individual drama and eight-figure sales prices, free of the paperwork, haggling, or late nights that would compromise the beauty of the program.

Following are the top 7 falsehoods you'll hear about on real estate television, along with tips on how to respond to client inquiries:

 

1. It's Simple To Find The Right Agent

A few different realtors are interviewed by savvy house buyers and sellers to ensure that they choose the best one. Rushing into business without getting to know you may give a client an inaccurate impression of what real estate brokers actually perform.

Even though you might be excited to begin working with a new customer, you should first take the time to learn about them and their objectives. The last thing an agent wants is to hurry into a relationship with a client who is overly eager and expects everything to function exactly like it does on Netflix. The mere fact that an agent is an authority in a given field does not automatically imply that every client in that hyperlocal field is a good fit for them.

 

2. Agents Select All Available Properties And Accompany Clients To Each One's Viewing

Contrary to television, the real estate transaction typically doesn't begin with a fancy lunch meeting with a client. According to the National Association of Realtors, more than 90% of house buyers start their search online before speaking with a real estate agent. Based on a few short searches on Zillow, your clients will probably have a vague sense of what's available in their neighborhood and will express what they're searching for.

It is not the agent's responsibility to narrow down a client's alternatives to a few preferred properties. Finding the ideal place requires cooperation and operates more like a partnership than as a host and a guest.

 

3. Customers Just Need To View Three Homes Before Finding Their Ideal Residence

On reality television, it appears as though people quickly locate their ideal residence. The client chooses the house that just so happens to have everything they're seeking after the real estate agent has shown them three completely different houses, and they immediately sign the documents (almost as if they've already decided on the house and put down the deposit?).

The truth is that the typical home buyer visits at least 10 different properties before selecting the ideal one, and many of these properties are pretty similar. Most clients won't be picking between a treehouse, mansion, or live-in boat since they have clear non-negotiables in mind. It would be quite challenging to know what to look for if your client was all over the place and interested in houses in very various places, styles, and ages.

To find your customers the ideal property, you must have a comprehensive understanding of what they require. Serious clients won't anticipate a tour of just three different house alternatives in the area.

 

4. Customers Consistently Receive The Dream Home

Buying a house is not an easy task. The list of difficulties faced by buyers includes unclear offer circumstances, being denied financing, poor inspections, etc. Clients don't immediately start the home-buying process after finding one that piques their interest. It is frequently a protracted, stressful process.

By educating your clients about frequent roadblocks and your specific worries regarding them, you can make the house-buying process considerably smoother. Under-promising is always preferable to over-exciting customers by raising their expectations.

 

5. Quick Sales Always Come From Open Houses

Open houses are only one of the several marketing strategies used by brokers to sell homes. Some clients have been persuaded that the open house is the time when all of their real estate prayers will be granted by drone shots and panoramic views of cliff-side Malibu mansions that are frequently on television.

Open houses are an effective marketing strategy, but even the best staging won't necessarily result in an immediate bidding battle. Clients must be aware that an open house is only a small part of a bigger marketing strategy you have in place. The open house wasn't a waste of time, even if the offers didn't start pouring in as soon as the doors opened. Explain that after attending an open house, visitors might want some time to process what they saw, offer recommendations, or reevaluate their budget before making a decision about a property.

 

6. Every Residence Is Expertly Designed And Staged

Networks are aware that with stunning properties that most people could only imagine possessing, they can achieve huge ratings. No problem if a property isn't flawless! The less fascinating tough spots won't be filmed. Additionally, stunning ready-for-TV staging does a fantastic job of concealing flaws and widening a room that would feel very different in real life. Normal family-decorated homes or ones that are empty lack the same visual impact.

If your clients are a little disappointed that the houses in their price range don't resemble the ones on television, don't be too shocked. This is a time for you to intervene and remind them that looking at a house requires some imagination and that they should envision how it might appear with their style rather than what they see on television.

 

7. The Most Talented People On Television Shows Are Agents

Popularity is not a measure of talent. Being an agent on a reality program has less to do with buying and selling homes and more to do with fighting in Hollywood Hills. The most talented (and successful) agents aren't typically front and center on television programs because entertainment comes first. On the other side, real estate brokers with enormous, captivating personalities benefit greatly from the show in terms of publicity.

To succeed in real estate, you don't need a personality like Fredrik Eklund's. Authenticity is the key to establishing and fostering long-lasting client connections in any industry.

 

In Summary...

We are all aware that reality television's "reality" isn't what it seems to be, but that doesn't make it any less alluring. Real estate brokers must correct consumers' misconceptions because reality television has a significant impact on their preferences.

The good news is that agents can quickly dispel TV magic if they are familiar with the recurring features of real estate reality television.