HGTV is one of primetime’s most viewed networks. It has entertaining shows that cover everything from buying to selling to staging to renovating. With millions of people tuning in every night, HGTV has successfully impacted the real estate business for every player. Here are some of the ways it has changed the game:
HGTV has the most profound effect on buyers. They want the glossy perfection that they see on television, not a house with “potential.” They look for homes that have all the latest luxuries, like hardwood floors, granite counter tops, and stainless steel appliances.
“House Hunters” has also affected the number of homes a buyer wants to be shown. Some younger people genuinely believe that their REALTOR® will only show them three properties. On one hand, this is good because they will not expect to be shown every single house on the market. But on the other hand, they may be disappointed if house number three isn’t the one. It’s important to manage their expectations up front and make sure they understand that reality real estate shows are not actually reality.
Sellers are often met with unrealistic expectations because of HGTV. If their homes are not immaculately decorated, they may be met with bids that are far too low, or not get any bids at all. Since buyers in today’s market have such high expectations, it puts a strain on the sellers.
However, HGTV’s effect on sellers can make a REALTORS® job easier. Shows like “Staged to Perfection” and “Designed to Sell” showcase the important roles that staging and decorating play in the selling process.
HGTV may inspire young agents to go into real estate. It shows how awesome real estate is and makes people want to be a part of the business. As far as business goes, in some ways HGTV helps to make a REALTOR®’s job easier, but in other ways it adds extra obstacles, such as managing buyers with unrealistic expectations.
When planning a remodel, many people look to shows like “Renovation Realities” for inspiration and tips. The problem is that the renovations on TV do not accurately reflect real life renovations. These television programs often get things on an extreme discount, so their price tag is typically half of what a normal renovation would cost. Another discrepancy between renovation shows and reality is the time frame. A bathroom remodel may take a weekend for HGTV, but to complete one in the real world may take three to four weeks. HGTV makes renovating look much easier, quicker, and cheaper than it really is.
HGTV has brought much attention to the real estate industry. It is a fun network to get ideas from, but the shows do not always portray the reality of real estate. We’d love to hear what you think of the HGTV effect. How has it impacted your client’s expectations, for better or worse? Share any stories in the comments below.