I admit it! I watch too much HGTV. My days are consumed with all things real estate, but my nights too? My family just doesn't understand it.
I'm not even sure I can explain it. There are too many commercials, too many unrealistic people, and way too many pat answers for everything. Maybe I just need to know what my potential homebuyers and sellers are being fed in the way of expectations.
But last night, the program My First Place was ridiculous! At first, the program proceeded like all the others in this series--formulaically from current living arrangements, criteria, the search, the negotiations, the inspections, the closing, the closing gift.
Except on last night's show, the young couple is in the agent's office. They have found the house of their dreams. They have written the offer, faxed it over to the other agent, and were waiting for the response. Then one of the couple says to the other, "The sellers pick up the closing costs, right?" And with that, the agent walks in to tell them that their offer is accepted! Oops, now what? Where are they going to get the $9000 they need for closing costs?
ARE YOU KIDDING ME? Apparently, this was the first time that the subject of closing costs came up, which I find very difficult to believe. I personally don't know any Realtor who would not discuss closing costs long before an offer is written.
In addition, who did they talk to about a mortgage? Because I don't think a reputable mortgage person would omit closing costs from any discussions either.
Shows like this put our profession in a bad light. We come across as self-serving charlatans out to make a quick buck. The public never sees the hours of education, research, facilitation, negotiation, and administration that goes into every deal.
So I guess the moral of my story is: Don't rely on HGTV for all of your information about buying or selling a home. While there are nuggets of truth and helpful ideas, homebuyers and sellers should educate themselves about the process. There are professionals in the fields of real estate, financing, and law who will make your real estate transaction happen with all the diligence this expensive transaction deserves.
Each transaction is unique and unforeseen problems occasionally arise, but your best approach is knowledge and planning. Find professionals who can help expand your knowledge and monitor the entire deal with you. And watch HGTV as entertainment, not reality.
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Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com
860-748-8900
If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website. I would be happy to help you with your home search or provide a market analysis for your home.
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Funny....I would imagine that the producers did this to demonstrate another aspect of the transaction. I would think they are trying to be helpful for first-time buyers to gain an audience....who knows. You are right that no Realtor would have overlooked this. The other thing about those shows that annoys me is they make us look like we do nothing but walk around homes. That really irritates me....so I don't watch them.
While I agree with your dislike of how they sometimes portray Realtors in the show, I think you are too close to the issue. You're watching the show with you RE glasses on. I saw the same episode, but had a slightly different take - the over-looked closing costs were emphasized to make buyers aware of the the issue, not to make the agent look bad. Of course it not reality TV. Besh wishes in 2010
Unfortunately I didn't get the opportunity to watch this episode.
I must say though that HGTV has provided sellers excellent tips in home staging.
Surprize...!!!!! Thanks for the Dean MArtin review....Best to you ..HNY !!!!
I've seen this show and it doesn't resemble reality. In the episode I saw, the buyers were buying their first home, and it was at the very top of the market. What ever happened to buying a starter home and moving up later?
I agree that highlighting the closing costs in the episode could have been accomplished in a less dramatic way, but then again drama is compelling. Compelling enough for you to write a blog.....
I filmed with that show in Aug of 09. I am anxiously awaiting to see how much of a dufus the clever editing department turned me into!
Thanks for the post
Ooh you beat me to it. My jaw dropped. But as Doug above said I think this is done to make viewers think. After all they had the money in the bank. Sadly though it makes viewers think we Realtors are all dumb. Happy New Year.
It always looks so easy on that program. An agent shows a few homes, and "Bang". . . an Offer is written, and "Bang again". . . an acceptance or brief negotiations ensue, and "BINGO"! We have a deal. AH, if only my experiences mirrored "Realtor Reality" as portrayed on HGTV.
Peggy,
I wonder if you wrote to the producers with some other ideas.. they might listen.. it's just like selling... you never know till you ask! I think it would be great! Tell them what REALITY really is!
Happy New Year!
Hi there Peggy. You bring up a good point from the scenario of this HGTV show. Clear communication about estimated closing costs by Realtor and Mortgage Professional alike. No buyer wants to be in the dark and have a surprise thinking there is nothing other than a down payment to get a house.
Happy New Year Peggy!!
Thanks, everyone, for your comments.
Cara, I think you have an idea there!
Gary, one of the first deals I ever did, we got to the day before the closing to find out that the town only collected property taxes once a year (most are 2x) and the buyer practically had to sell his first-born to close on the house (I don't know about Texas, but taxes in CT are high). Since then, I have been over-diligent about checking everything!
Hi Peggy - the programs HGTV runs about Staging aren't realistic either. "Staging" a house for $2000, which includes the services of the Stager and two skilled handymen/electircians/plumbers/carpeters? I don't think so...they never include the labor! Happy New Year - Julie