Peek into dream homes, watch bidding wars unfold, and find out who would be willing to pay $60 million for a crumbling mountain mansion. It is a preview of international markets and what money can (or can not) buy. But, unfortunately, real estate reality shows are only accurate, whether guilty pleasure or must-see TV.

Real estate reality shows make buying and selling a home look very easy – almost too easy.

As a result, you do not typically see a lot of failures,” said Redfin agent Alec Traub. Los Angeles-based Traub works in the high-end market and loves these shows.

As such, Traub, a luxury agent in LA, is quick to point out that the portrayal is a glossier version of reality.

“It is a lighter version of what I do. They depict agents and structure the show like it is fantasyland real estate. So I can watch and kick my feet up and think: ‘how nice would it be if it all happened that easily?”

 

So what is the actual reality? Here is what Alec says real estate reality shows do not show you:

Home sales do not close as quickly on TV

There is a lot more to buying or selling a home, and it is so much harder to put one together than what you see on TV.

“Million Dollar Listing” makes it seem like a closing is a matter of sitting down, making a couple of phone calls in five to 10 minutes, and you are all done.

They never show the weeks of back and forth negotiating, counteroffers, and discussion of terms.

 

Real estate reality shows do not include what happens after agreeing to price and terms

The hard part starts once you have accepted the offer, and then you have to go through escrow, inspections, and an appraisal.

But those steps are much drier subject matter with far less drama and excitement.

For example, a 40-something minute show would never devote minutes to line items on an inspection report. 

But for me, it would be pretty interesting to see how “Million Dollar Listing” is Josh Altman handles a low appraisal or a buyer with financing troubles, which are still common in the high-end market.

 

More home closings fail than you think

Agents face failures every day, such as lost listings or clients. Now and then, you will see someone get fired on Million Dollar Listing, but that is few and far between.

In reality, about one in every three to four offers on a home in Los Angeles is out of escrow for whatever reason, something you will not be able to get a sense of by watching the show.

 

Finding clients is not as easy as it looks

“Million Dollar Listing” only shows the listing or client after successfully signing. They leave out the process of how they got that business in the first place.

Clients are often made reference to as friends or colleagues, without mentioning how that relationship began or whether the agent had to knock on doors first.

 

The pool of agents inaccurately represented

“Million Dollar Listing” makes it sound like a dozen agents in all of Los Angeles when there are thousands. Agents have some presence, but there are just four or five of them.

In LA, you constantly compete against so many people for every client and listing consult.

 

In smaller luxury markets, a few agents do dominate

In high luxury price points like Beverly Hills, Bel Air, or Hollywood Hills, only a handful of agents typically represent those buyers and sellers.

You see the same people; there are maybe ten agents in each of those neighborhoods, and everyone else is on the periphery.

 

Real estate reality shows can misrepresent agents

“Million Dollar Listing” does not deter the negative image of a real estate agent having a sleazy reputation.

Instead, episodes show agents making backhanded deals that perpetuate the stereotype. But that is the drama of TV.

If someone were following me around with a camera, they would be boring. The real work can be frustrating and tedious and would not translate well to TV.

 

Whether you want to believe it or not, some real estate reality shows are staged

I only watch House Hunters International when it comes to an exciting destination like New Zealand to see what properties are like.

But it is harder to see knowing it is all fake drama of “I can not decide!” when the buyer has already purchased a property.

Other shows are staged to a certain extent. For example, the circumstances around a buyer or property might seem tense and uncertain, but they always know the offer will come together.

 

The agents on Million Dollar Listing are real successful agents and people!

“I sometimes watch House Hunters or Flip or Flop but mostly ‘Million Dollar Listing,’ which is funny because I have done deals with those agents. So the properties on ‘Million Dollar Listing’ Los Angeles are properties shown on TV are often homes I know,” he said.

“I had watched even if I was not an agent, but because it is my industry, it is interesting to see how the business is portrayed. But I am not watching myself; I am watching a glorified version of my workday”.

“I have closed with Madison, the Malibu agent on Million Dollar Listing. That was great–there was no ego, and we worked well together. I have also had good interactions with Josh Altman and Josh Flagg on their properties”.

When the cameras are not there, and it is not a production, it is just ordinary people trying to help their clients buy and sell homes.

The show is edited and only shows a slightly over-the-top side of the business.

But when we work together, we all have the same focus: closing a home for our clients.

 

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