David Barr (Berkshire Hathaway HomeServices Florida Realty)

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Rainmaker
846,420
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I've seen this before. Usually it's a request of a homeowner who only wants serious approved buyers going through their house, and they don't want to waste their time with curiosity seekers. If my buyers liked the house, i would send the pre-qual letter. By the way, price could have nothing to do with it. it could be their living situation. Might have eldery or disabled person living there, or they could just work from home.

Mar 22, 2016 11:37 PM
Rainmaker
610,666
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

That is riduculous and unnecessary on a home of that mere price.  Personally I would skip it...I see an uphill battle coming.

The only time I see this is on the multi million dollar homes...a totally different story and acceptable.

Eve

Mar 23, 2016 02:45 AM
Rainmaker
394,524
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

Buyer's agents should be working with pre-approved buyers in the first place.  A pre-qual is kind of worthless.  

If the client wanted to see the property, I wouldn't let the agent request stop me.  I'd wonder if there would be similar requests/roadblocks throughout the transaction as well. 

Mar 23, 2016 12:21 AM
Rainmaker
1,636,242
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Sounds like something a MS agent would post.Almost as bad as must get key from listing office. 

Mar 23, 2016 12:20 AM
Rainmaker
4,004,437
Richard Weeks
Dallas, TX
REALTOR®, Broker

I don't do anything stupid unless instructed by the client.  It would not be my decision to skip the house that would be the buyers decision.

Mar 23, 2016 12:10 AM
Ambassador
4,560,528
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It doesn't say you have to submit a prequal, does it? One would hope agents are bringing buyers they know are pre-approved, not just pre-qualified but we know some do not.  Sorta stating the obvious. But we see this fairly often, and a pre-approval letter or POF IS commonly required for high-end properties before touring.

Mar 22, 2016 11:52 PM
Rainmaker
883,297
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

That is not uncommon in my part of Florida.

So I have the lender provide a prequal for various price points, with the intent of never revealing the buyer can go higher.

Mar 22, 2016 11:33 PM
Rainmaker
651,378
Sharon Kowitz
CRS-SRES-ABR-GRI-E-Pro-CREN Fonville Morisey Cary, NC - Cary, NC
Cary, NC Relocation Specialist ~ Buying or Selling

I think it's not worth the hassle for one house at an average price point, there are a ton more in our area and I'd move on.....good luck to that seller!

Mar 23, 2016 01:05 PM
Rainmaker
4,167,172
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Seen it before. Nice try. For me, it screams "NEXT"!

Mar 23, 2016 07:11 AM
Ambassador
3,038,586
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I'd let my clients make that decision.  I would first need their permission to send their approval letter.  I had one LA ask for a copy of my clients credit score.  That agent could kiss my back side. 

Mar 23, 2016 07:01 AM
Rainmaker
5,535,254
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

David,

I think that Jeff Pearl made a good point.  I would call the listing agent and find out.  On another note, I am so amazed at how intent intent many are here on the pre-qual letter.  No one is vehement around us on the subject.  A

Mar 23, 2016 01:06 AM
Rainer
43,931
Stephanie & John Webb
Latte Stone Realty LLC - Albuquerque, NM
Stephanie Webb Co-Owner, Latte Stone Realty, LLC

I interpret that to mean they don't want a bunch of showings to buyers who just want to look at homes.

Mar 23, 2016 12:51 AM
Rainmaker
1,457,327
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

David Barr It's called following the instructions of your seller client.

Mar 23, 2016 12:32 AM
Rainmaker
1,879,335
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I agree with you David Barr I have to provide proof of funds for home I show over $2,000,000.00 and that is understandable, but for 254K?

Mar 22, 2016 11:47 PM
Rainmaker
1,876,567
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I have done this on very high end homes as the Sellers did not want dreamers casing their home.

Mar 29, 2016 04:54 AM
Rainmaker
4,893,358
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We see this too, and rather stupid.   We are going to put unqualified buyers in our car?

Mar 24, 2016 10:49 AM
Rainer
98,723
Becca Rasmussen
HomeSmart Cherry Creek - Highlands Ranch, CO

I would assume it's a nonsensical and irrelevant inclusion, perhaps done by the listing agent at the insistence of their client.

  1. There's no stated requirement for the buyer's agent to provide any proof of same to listing agent prior to arranging a showing. As long as my client wants to see the property and it's in their price range I'd make the appointment.
  2. Pre-qualification is pretty useless, as many others have mentioned. 
  3. At least in my local market, anyone working with a client not pre-approved is wasting everyone's time. And we're all rather protective of our time, aren't we? Thus, likely it can be assumed that all clients viewing the property are indeed already at a minimum pre-qualified so in the end it's a rather moot request.
Mar 24, 2016 07:01 AM
Rainmaker
2,437,714
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning David. Why would anyone be willing to show anyone a home that is not pre-qualified? I've seen these instructions before. 

Mar 23, 2016 07:19 PM
Rainmaker
426,364
Bill Dandridge
MKB, Realtors - Roanoke, VA
GREEN, ABR, GRI, EcoBroker

I would not hesitate to show it to my clients. The listing agent (or the seller) just want to ensure that everyone who sees the house will be able to purchase it.

Mar 23, 2016 12:54 PM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I usually prequalify my buyers before showings but I think this is a little off putting.

Mar 23, 2016 11:43 AM
Rainmaker
661,105
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Crazy! but I would leave it up to buyer's decision

Mar 23, 2016 11:26 AM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Oh yes I have seen this and on top of that it said that proof of funds could not come from a 401K and had to be verified by a bank officer. My buyer did skip and yes it was a home around $260,000 too. I didn't get it and the house wasn't that special and needed updating.

Mar 23, 2016 11:13 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If the home is what my customer wants, I'll show it.

Mar 23, 2016 08:13 AM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Many showing are set up the day in advance.  Many showings say 24 hour notice...would you skip them also?

I actually require a pre-qual letters for about half my listings.  If the buyers and the agent are not up to getting approved are they really interested?

Mar 23, 2016 07:36 AM
Rainmaker
795,232
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

I agree with Jeff Pearl and while I have seen it, I just considered it as a plea for serious, ready, willing and able buyers only. No harm in asking for that.

Mar 23, 2016 07:21 AM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I would ask my buyers if they want to skip it.

Mar 23, 2016 06:07 AM
Rainmaker
1,514,855
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

 A lot of agents add it, but only agents of high end properties sometimes require ''see the money'' before arranging an appointment.

Mar 23, 2016 05:51 AM
Rainmaker
1,105,545
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

There's no problem with the added verbage. I don't take customers out on showings without a pre-approval why should a Seller be any less diligent?

Mar 23, 2016 05:41 AM
Rainmaker
640,913
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

David Barr I can see skipping this particular showing due to the price range but sometimes I look for quirks like this knowing the home won't be shown and won't have much competition.  This gives the buyer an opportunity to buy a home below market value at times and sometimes it is a great home too.

Mar 23, 2016 05:29 AM
Rainmaker
140,495
Chrissi Chapman Topoleski
Coldwell Banker Realty - Woodbridge, VA
Passionate about helping others achieve success!

I've seen this before. I have clients who may be early on in the "do we want to buy" process that may have talked to a lender but have not filled out an application yet and don't want to. We've passed on looking at properties that have that requirement. If it's a high priced home I understand keeping out curiosity seekers.

Mar 23, 2016 05:24 AM
Rainmaker
1,381,523
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yeah, I wouldn't put that in.  I'll let non pre-qual'd buyers see it at an open house, but I won't run out of my way to let them in on appointment with agent homes.

Mar 23, 2016 04:50 AM
Rainmaker
1,860,207
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I had a seller ask me to include this notice on the agents-only remarks section of their listing, so I did. They didn't want to have to get their home ready for a showing if the person might not be able to buy it, and believe it or not, many agents do work with buyers who haven't yet been pre-approved. That being said, I didn't ask for a copy of the pre-approval before approving a showing, nor did my sellers. 

Mar 23, 2016 04:43 AM
Ambassador
3,312,521
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I personally wouldn't do that, but I wouldn't restrict my buyers from seeing it.  It's not what is convenient for us, but what they want to see that matters.

Mar 23, 2016 04:13 AM
Rainmaker
3,977,257
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Really, must be a new agent.

Mar 23, 2016 03:26 AM
Rainmaker
425,205
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

Unless the buyer really wanted to see the house, I would probably not send them the letter prior to the showing.  

Mar 23, 2016 03:02 AM
Rainmaker
140,568
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

Some sellers want to make sure that they are getting serious buyers only, no tire kickers.  Can't blame them if they are taking the time to really make the house look good.  If we are doing our job, we should be making sure that the buyers have a reasonable expectation of completing the transaction so we aren't wasting our time.  I have sellers ask me to do that.  I usually don't ask for the letter, just ask the agent.

Mar 23, 2016 02:13 AM
Rainmaker
1,149,509
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Same as serious buyer. Sellers prefer prequalified or strong buyers only.

In our area, some sellers want you submit proof of funds in advance as a pass to get to view high end homes.... One stated if you can not prove you have $3M do not want you to view.... 

Mar 23, 2016 02:08 AM
Rainmaker
1,988,128
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I'd skip the listing agent - not just the properties 

Mar 23, 2016 01:40 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

In our area we've seen it, and from the listing side we prefer it. It's really meant for the "newbies" who sometimes (and we've seen this) not only don't have their Buyers prequalified - but don't have a signed Agency Disclosure or Buyer Advisory!  Not intended to insult qualified Buyer Agents who know what they are doing.  And - all language in our listings is reviewed and approved by the Seller.

Mar 23, 2016 01:39 AM
Rainmaker
1,398,983
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

It could be worse and like one here to be prequalified by such and such a bank and buyer may choose bank of their choice.

Mar 23, 2016 01:31 AM
Ambassador
1,577,005
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I've seen it and unless my buyers are really intrested we skip it.

Mar 23, 2016 01:11 AM
Rainmaker
3,614,580
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Move on down the road.  Not worth it

Mar 23, 2016 01:06 AM
Rainmaker
889,095
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I am OK with this in theory.
On the River, we get lots of lookieloos who 'sport view' homes they have no intention of buying ever.
I rather like when consumers are kept honest. 3:)
As far as submitting a lender PQ to simply view . . . I dunno. We might pass unless we really love it.

Mar 23, 2016 12:34 AM
Rainmaker
4,066,331
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have also started seeing this as well on some listings.  

Much of our market has low inventory so depending on the situation, I may or may not show it.   If I could find a home(or a condo) in that price range --- many of my buyers might make an offer sight unseen -- it's a rarity.   

Unless, it is a very high end home and the seller requests it, I do not restrict showings in this manner.  

Mar 23, 2016 12:26 AM
Rainmaker
6,554,760
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I agree with the answer by Jeff Pearl

Mar 23, 2016 12:19 AM