Wednesday, August 22, 2018

5 Real Estate Reality TV Myths— Debunked!

By now, you've likely seen a real estate reality TV show or two— you may even have a favorite that you watch constantly. But whether you've watched one episode or twelve, it's important to note that not everything you see on your screen is indeed reality. If you've found yourself wondering if these shows do indeed portray how the buying, selling, or renovation process goes, I've included a reality check for you below!

Myth: Buyers Only Choose from 3 Homes
In nearly every reality TV show based on homebuyers, there are typically three homes toured and then the buyer makes a decision. While there may be a small percentage of buyers that buy one of the first few homes they see, the National Association of Realtors says the average homebuyer tours at least 10 homes during their search.

Myth: The Show is in Real Time
It may seem unrealistic that the homebuyers can go through the entire buying process, from search to closing, within a 30-minute time slot and that's because, it is. Real estate reality shows often follow buyers who are farther along in the process and have already chosen a home to buy, in an attempt to speed up the process for viewers.

Myth: The Homes are Still For Sale
Maybe you've spotted a home on your favorite real estate show that fits the bill, but unfortunately many of the homes shown on TV have already been sold and are off the market. The properties are staged for TV for the "home search" phase.

Myth: Your Home Will Sell at the Open House
Many times homeowners on TV will hold an open house and then choose from the dozens of offers that result from the traffic. However, it's important to note that just as many homes sell from regular showings and your property may not hook a buyer from the first open house. This is just a small piece of the marketing puzzle of your property.

Myth: Removing a Wall is Easy
These days, every homeowner wants an "open concept" floor plan and thus, real estate reality shows often show demo teams knocking down walls to make it happen. In reality, removing walls may not always been in your budget or even possible for your specific home. If the wall is load-bearing, there is much more structural work that comes into play and that can be more costly than you think!

Give me a call today for more information about available properties on Chicago's North Shore or with any questions you have on buying or selling your home in Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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