Have you ever wondered on the show House Hunters why the buyer only looks at 3 houses or condos?
Is that all that is available? Do they look at more and just show us the 3? What was wrong with the other ones if that was the case?
TV Show may end up giving a distorted view to home buyers.
I have watched with interest the rise in popularity of shows like House Hunters, where Suzzane Whang takes you behind the scenes of the process of a home buyer or a couple buying a home who are escorted around to 3 homes by a real estate professional. After seeing the 3 homes and a strategically placed commercial break the home buyer comes to the real estate professional office to fill out a one page contract form. After another strategically placed commercial, viola, the buyer has the home and we get the opportunity to drop in on them 1-2 months after they have moved into the property they selected. All of this half hour, made for TV house hunting got me to thinking, How authentic is the House Hunter to the actual home buying process?
Over the course of the next few days I will be comparing and reviewing the House Hunter process with the Actual home buying process while showing some of the glaring and subtle differences along with providing some food for thought for potential home buyers.
This is part two of a nine part series.
The premise of the show is really very straight forward. A home buyer is shown a grand total of 3 homes by a real estate professional and they end up selecting one of the 3 homes. For over the past 12 months in Northern Virginia alone there has been over 12,000 homes, condos and townhouses for sale at one time. In many cases this does not include the homes being offered by new homes builders or any of the small number of homes that are offered as a for sale by owner. Now, let me ask you, are home buyers being mis educated about how they fo about looking for a home and settling for seeing a small number of homes out the the thousands that are actively available for sale? There are condo communities that at any one period of time have more than 3 properties that match a particular criteria available at any one time. Take Evans Farm in Mclean VA where there are 3, 4 or 5 plus units available at any one given moment in time. Now, as a responsible agent, it would be in my best interest and in the best interest of the client to show them all of the available properties. In most areas, the schools and location with regard to the buyers job are extremely important to the home buyer. That being said, it is also worth noting that multiple communities or areas may be an equal distance from the buyers job and offer similar benefits. Again, it would be in the best interest of the home buyer to compare the areas and see all of the possible choices that are available.
Seeing a number of properties can usually be completed during the course of 1 to 2 days. An experience agent will help the home buyer to evaluate multiple properties. I also stress the part that this can be done all in one day because we do not need to do a wardrobe change between each house showing.
How it really works: Most good agents will work with the buyer to establish what it is that the buyer is looking for from a home. Based upon this criteria the agent will compile a list of properties that meet the parameters set forth by the buyer. This list may result in multiple properties that are located in several similar communities. The Agent and Buyer will coordinate and block off a time to perform the actual house search. This scheduling is necessary because the agent needs to notify the occupants of the property that they are coming by so that the seller will not be present during the showing, thus allowing the buyers to feel right at home. If a community contains multiple properties that meet the criteria then the agent will make all of the properties available to the buyer. The agent will also assist the buyer in narrowing the list of possibilities down to a manageable 1, 2 or 3 properties. These properties may require a second look, but this can be handled in one appointment so that the decision making process is aided by all of the properties being fresh in mind.
Robert Earl - Founder of The Earl of Real Estate Team is a Real Estate Entrepreneur & Real Estate Coach based in the Northern Virginia. The Earl’s Site features Reston Condos for Sale & Reston VA Houses for Sale
- Robert Earl The Earl of Real Estate
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