Real Estate Wars is a show about real estate. If that doesn’t spark your interest, we don’t know what will.
We have seen numerous TV shows which involve a number of different careers and markets before. But, for the first time, a new TV series was made about the world of real estate.
While some people might not find it interesting, or might even find it a bit dull that the show focuses on the world of real estate, real estate investors, agents, and enthusiasts are thrilled, and we are all hoping that this show will manage to deliver a clear and close depiction of the reality of realty, and we all have our fingers crossed that the show will manage to find success without having to rely too much on exaggerations and drama just to gain additional views.
So, what is Real Estate Wars? And what’s the relationship between the events that take place in the show and the actual real estate market, as well as the California real estate market in particular?
Real Estate Wars: A Show About Real Estate
In case you haven’t heard about the show, Real Estate Wars is a new TV series about real estate agents and their struggles, triumphs, and losses in the highly competitive real estate market of the Orange County in Southern California.
The show focuses on John McMonigle, who was previously the top real estate agent in the market before being forced into bankruptcy by the market crash. The story follows John as he rebuilds his empire and builds up an ambitious team with 4 other real estate agents by his side.
Another major focus of the show is the extreme competition between John’s group and the Relegance Group, a real estate brokerage led by the “Real Estate Queen” Jojo Romeo.
Real Estate Wars sheds light on a well known fact in the US real estate business: California was, and remains to be, the hottest real estate market in the US.
With a limited amount of available listings, and a market that thrives on luxury homes and multi-million dollar deals, real estate agents in the State of California are competing over the same high-end clients with millions of dollars on the stake.
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But the question remains: Is Real Estate Wars a reflection of the reality of the California real estate market? Or is it just an exaggeration of the reality of realty there for the purpose of building up drama and obtaining more views?
Real Estate Wars: The Reality of the Market
If the show manages to capture one aspect of the reality of the California real estate market, that reality would be the extremely high competition between real estate agents in the area.
The California market has always been one of the top performing real estate markets in the US. High-quality real estate agents, in particular, have always aimed to build their empires in California due to the market’s reliance on luxury homes and multi-million dollar deals.
Despite the limited listings, the high-end prices of luxury homes in general means that real estate agents who could nail clients looking to purchase a luxury home are guaranteed to make a hefty profit out of the deal.
Related: The Risks of Becoming a Real Estate Agent
This is, of course, due to the way that real estate agents make money.
For those who are uninformed or lack the knowledge of the real estate business, real estate agents are typically paid a percentage of the total amount of the deal. This means that if an agent helps a real estate investor or a home-buyer to purchase a home for $100,000, he/she would be making less money than if he/she was to help a client purchase a home for $1,000,000.
Since luxury homes are typically more expensive, with some being valued at millions and sometimes tens of millions of dollars, and since California is known for its luxurious neighborhoods and areas, such as the Orange County, real estate agents who are working in the area might struggle to find a high-end deal, but when they do, the deal is usually worth the time and effort spent on it, and it will eventually pay off.
But this also created the extremely high competition in the area. While there might be no John McMonigle or Jojo Romeo in the real world, there are other more ferocious and competitive real estate agents who work in the market in the real world, and we’re sure that many of them will find several resemblances between the actual real estate market in California and the one depicted in Real Estate Wars.
Learn: How Much Do Real Estate Agents Make?
Real Estate Wars: The Reality of Real Estate Agents
One aspect the Real Estate Wars also focuses on is the way real estate agents work, and their true motivations and ambitions.
While most real estate investors and home-buyers in the real world like to believe that real estate agents are trying to do whatever they can to help them find their dream homes, the show brings a different and sometimes true perspective about real estate agents.
In the show, the agents are shown to have little consideration of the actual desires of their clients, and would instead focus on their own goals that they’re trying to achieve and the wealth they’re trying to build.
Real Estate Wars shows us the side of real estate agents who would do whatever it takes to convince their clients to purchase homes that might not be the optimal choice for them, only for the agents to achieve their goals and get their clients to pay hefty amounts of money, which leads the agents to cash in on the profit as well.
This new perspective, which many real estate investors and home-buyers might not consider, is partially true.
Also Read: Questions You Should Be Asking Your Real Estate Agent
While the show does exaggerate on this matter, in reality, there are real estate agents who would go to great lengths just to make an extra profit, with little regard to their clients, their needs, and their desires.
This aspect of the show has actually created an uproar among real estate agents who believe that the show is depicting them and their careers with negativity, and that it might actually affect their business performance as people might begin doubting the choice of hiring a real estate agent to help them with their investments and/or home purchase.
Note: Click Here to see the best performing luxury homes in OC, California!
Real Estate Wars: The Reality of Realty
While Real Estate Wars is a very good choice to watch for real estate investors, agents, and enthusiasts alike, it is important to keep in mind that it is only a TV series that tries to make up drama in order to attract more views.
And although there are aspects of the show that are close resemblances of the reality of the real estate market, such as the high competition in certain markets and the way that real estate business works, it is important to realize and understand the exaggerations and not let them affect your perspective of the world of realty and how it functions.
Finally, if you like Real Estate Wars, and if it has sparked interest in you to go ahead and get involved in the world of real estate, whether as a real estate agent or as an investor, perhaps it is time for you to start learning the basics and the non-basics of the market.
Head over to Mashvisor’s blog section, and you will find over a thousand articles, blogs, and guides that cover all the major aspects of real estate investing. Once you have acquired enough knowledge and you believe you are ready to take your first step towards investing in real estate, go ahead and subscribe to Mashvisor to gain access to some of the best and most unique tools available to real estate agents and real estate investors to make investing in real estate easier and more accessible than ever before.