We have all suffered the guilty pleasure of watching a Real Estate Realty Show or watching the entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” or “Property Brothers”.
Lets talk about Real Estate Reality TV Shows: Fact vs. Fiction!
- They tend to not highlight the Due Diligence side of the deal. You get what you inspect not what you expect. The biggest issues we see are the following: Underestimating of costs and overestimating the market value. Those are the two things you have to have right!
- They tend to show just the “sexy stuff”. If you are active in real estate in any way, you understand that 30 to 60 percent of your time is spent in front of a computer screen. The show would lose its sex appeal if you watched them build spreadsheets and update quickbooks.
- The flipping shows never show the real costs. You have holding costs, which include property taxes, insurance and utilities, and there are also selling costs, which can include Realtor commissions, title and escrow fees.
- Inflated profit projections. You have no idea until that house goes on the MLS (Multiple Listing Service) — and you have people come to look at it — what the true market is. We, at Steelbridge Realty LLC are some of the best at numbers in relation to real estate but you never know until you truly know!
- Artificial drama. The last thing you want in real estate is drama. It takes you off your goals. We devise systems to make sure things go smoothly, thereby circumventing drama.
- 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.
Bottom Line for Real Estate Reality TV Shows: Fact vs. Fiction
Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that your dreams become a reality!
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Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting edge marketing techniques and data driven Real Estate solutions in today’s ever changing environment.