I’m a sucker for real estate reality television. Property Virgins, House Hunters, and 2 a.m. reruns of the Property Shop – I live for these shows, and always love watching couples and families go through the highest of highs, the lowest of lows, all to finally find the property of their dreams, and right on budget too.
As a real estate agent though, sometimes I have to giggle at how easy it seems. House showings to key pickup, all wrapped up in a 22 minute time slot. Of course, with the time limitations, there isn’t enough time to get into the intricacies of a normal, average real estate transaction, but I imagine that most viewers who haven’t actually been through the process might romanticize the experience with the information provided on these shows.
In the real world, the process can take months. Buyers have to talk to financial professionals to apply and qualify for financing or a mortgage, and then find the right agent with knowledge of their circumstances, their needs, and the area that they’re looking to purchase in. Then there are the house showings. On television, they show three houses and decide between the given options. I’ve had clients go on as many as 15 showings before deciding on a property, and rightly so. This is not a pair of shoes, this is a home, for families with children, dogs named Rover and cats named Meow. While timing can be of the essence when it comes to getting your home once you’ve decided on a property, finding the right home for you is a process that in my opinion shouldn’t be rushed or double-guessed.
Even after getting an approved offer, we’re often not ready to pick up the keys just yet. Accepted offers are usually “conditional”, meaning we now have to deal with home inspectors, appraisals, and final steps for financing. Your dream home might end up being a nightmare property if an inspector turns up foundation issues or termites, so there’s usually a period of time when a buyer can walk away from a property.
But I’ve seen firsthand how these shows have affected the real estate market in a very real way. Buyers and sellers are more educated now, and real estate professionals have been forced to step up their game. Sellers understand the value of “curb appeal” and not having animals or dirty laundry in the home during showings. Buyers are learning to see past superficial things like bad paint colours and minor improvements to see how a home can be made to fit them. Knowledge is power, and in the real estate game it can be the difference between a make or break deal.
All in all, these shows, by necessity due to timing and probably in large part entertainment, are condensed versions of what to expect when you’re purchasing a property. I take whatever lessons I can from real estate powerhouses like Tatiana Londono, but in the end, I really just take it for what it is: entertainment. Good, clean, funny, exciting, licorice and white cheddar popcorn on a Thursday night entertainment, and I love every second.