Hi everyone, Welcome back to the blog! Today we are cutting right to the good stuff. The topic us agents are getting on the daily!
REAL ESTATE IS HOT RIGHT NOW, and I am NOT just talking about the Market. Left and right people are switching careers and getting their Real Estate License.
If you’ve ever binge watched Selling Sunset on Netflix, you might be thinking this career as a Real Estate Agent seems pretty appealing! All it takes is a few phone calls, showing 1 multimillion dollar house and you’re getting BIG paychecks!
I’m going to share a couple of realities about the Real Estate industry that you aren’t seeing on TV!
- There is more to an accepted offer than the price –
You’ll notice on some of these shows, all it takes is a phone call discussing the price the buyer is offering and boom, they have an accepted offer!
However, there is a lot more to an offer than the price. There are contingencies for the home inspection, financing, appraisal, closing dates, earnest money amounts, down payment, the list goes on! That is why it’s so important to work with a buyer’s agent who can help walk you through each step of the process and set you up for a successful accepted offer. Also, not to be a downer, but there are many things that can go wrong during a transaction. Cue in the low appraisal, lender delays, and unforeseen circumstances that they do not show on TV!
2. We’re not making the commission amount they’re showing you at the bottom of the screen –
For starters, did you know the commission is split between 4 different parties? If you’re doing the math in your head thinking if you buy a house for $X, my real estate agent would make X% – you’re probably wrong.
That check is divided up between the listing broker, the listing agent, the selling broker and the selling agent. So next time you think about asking your Real Estate Agent for part of their commission, think again! The TV shows do not show you the amount of money paid up front by the agent for time, marketing, supplies, gas and other business expenses necessary for closing the deal!
3. We don’t look at multimillion dollar properties everyday and wear 6 inch heels doing it –
This one makes me laugh because it’s quite the opposite actually. We keep backup shoes in our cars to walk properties with lots of acreage, we are probably sweating or getting bit by mosquitos as we show homes during the hot Summer months and sometimes the houses are foreclosures that look like something out of a scary movie. Not all houses we show are staged to the nines and look straight out of a luxury magazine. Think about the area you live in and if there are actually multimillion dollar listings even being sold.
What is something you thought was true about the reality TV shows?!
Be honest, have these real estate reality shows given you the idea to try real estate and see what it is all about?
If you are wondering I am TEAM CHRISHELL!
Thank you so much for joining me today and I hope you will stick around. I love to share all things home and real estate with a touch of Florida lifestyle mixed in.
Until Next Time!