The Reality of Reality TV in NZ Real Estate
In the past few years, television reality shows have become a big hit for real estate. Millions of viewers across the globe are now obsessed with watching successful agents selling luxury property and the dramas that unfold.
If you’re a real estate agent in New Zealand, you may have heard about the reality TV show Rich Listers.
The show follows several real estate professionals as they navigate their way through luxury listings and high stakes deals. The show is an interesting take on how reality TV is changing the face of real estate, and it’s worth exploring how this show can help shape the industry.
Unlike traditional reality shows, Rich Listers does not rely solely on entertaining storylines or awkward moments to keep viewers engaged.
Instead, it uses fictional characters and situations to highlight the drama of real estate transactions. Stars of the hit series feature former Miss New Zealand contestant Holly Cassidy, former Deputy Prime Minister Paula Bennett and Bayleys Ponsonby agent Annabel Marshall. This adds a unique blend of luxury, charisma, and expertise to each episode.
On the one hand, these programs can be great for entertainment & business because they bring more attention to the industry and open up possibilities for potential buyers. But on the other hand, there is also a danger that these shows can create unrealistic expectations about what agents can do, as well as lead to inflated prices and poor sales results.
In 2022 alone, Kiwi fans called for The Block to be axed after its dismal profits. The winning couple on the finale of New Zealand’s version of The Block netted just $NZD4000 ($AU3046) in a record-low auction result for the local franchise. It wasn’t much better across the ditch in Australia with a property expert slamming The Block for being “out of touch”, claiming that the homes had over-inflated expectations after another sale in the series sold for a whopping $1.6 million profit.
There are some big takeaways from watching these shows such as how to market your home effectively or which renovations will give you the highest return on investment; however, not every sale will result in a massive profit like those seen on TV.
While there are some downsides to these reality shows, there are also some positives too!
Agents featured on these shows often become celebrities overnight – boosting their profile and giving potential sellers confidence in their services. Additionally, by watching these shows viewers can learn more about what goes into renovating and staging a home so they can do it themselves or hire the right professionals if they need assistance. This helps agents gain more clients when buyers know exactly what they want out of their renovation projects.