Sep. 1, 2005 Edition

Reality TV Check

Critics respond to the wave of reality real estate TV shows
By Monica Feid

Monica Feid

Fun to watch? Maybe. Practical? Not always. Critically-acclaimed? Nope.

That's the feedback from members of the media about the new wave of reality television shows on real estate wholesaling ["Flip This House," "Flip That House," and "Property Ladder"]. I recently reported in The Vestor's Voice when these shows hit the airwaves. Now, here are some headlines about the shows from various newspapers:

"Flip This. Flip That. Should we give a flip?"

"New breed of home TV shows illustrate the dark side of real estate."

"Cracks in the ceiling of the housing boom."

After researching the production companies of these shows, BizCom Associates has learned that independent owner-operators are the targets to star on these shows for good reasons. They won't question the way the networks want to portray the industry. They represent the "little guy" in business that a viewer relates to. And there's a chance they can make a mistake, which makes television entertaining.

Unfortunately, the recipe for this kind of programming doesn't guarantee all of the right ingredients that HomeVestors likes to see in its own operation. These shows make success look arbitrary. They portray the business like a game, and sometimes people are on the losing end. Meanwhile, a national brand like HomeVestors that can solidify the business process is too defined for the haphazardness these shows often televise.

The New York Times News Service said: "Like the antique notion of a savings account, the classic how-to renovation program, with its emphasis on discipline and stewardship, is a thing of the past. Reality television has moved on from the comforts of 'This Old House' to an obsession with risk, speed and camouflage."

The article goes on to describe flippers. "These are neither preservationists like Bob Vila nor idealists like Ty Pennington; they don't care about restoring fallen splendor or dreaming up solutions for people who feel trapped. They care about profiteering."

The Wall Street Journal countered with: "Sure, home renovation has always been a part of TV since Bob Vila's 'This Old House,' and TV shows like 'Extreme Makeover: Home Edition' have somewhat noble agendas. But those shows are about bettering quality of life; flipping is about making quick bucks in a difficult game to play. Once the cameras start rolling, the losers are likely to turn up fairly quickly."

But, HomeVestors does care about quality of life. HVA does have a noble agenda to reinvigorate neighborhoods. HVA franchisees follow a system. The emphasis on discipline begins on day one of HVA training. And that means a reality check for HVA and reality TV as we continue to monitor this trend and investigate only positive ways for HVA to become involved in the medium.

. . . Monica Feid is vice president of BizCom Associates and handles public relations for HVA.