The biggest challenge to today‚Äôs housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four
5 Myths About Real Estate Reality TV Explained
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We‚Äôve all been there‚Ä¶ watching entire seasons of ‚ÄúLove it or List it,‚ÄĚ ‚ÄúFixer Upper,‚ÄĚ ‚ÄúHouse Hunters,‚ÄĚ ‚ÄúProperty Brothers,‚ÄĚ and so many more, just in one sitting.
When you‚Äôre in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.
Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.
Myth #2: The houses the buyers are touring are still for sale.
Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.
Myth #3: The buyers haven‚Äôt made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.
Truth: Of course this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.
Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.
Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!
Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program homes, investors who flip homes or buy rentals, commercial properties, land sales, lake front properti....