Special offer
Peter Mohylsky, Destin BeachPro, Call me at 850-517-7098 (PMI. Destin)

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Ambassador
3,356,689
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

Only if I am the one showing the property.  This would be if a person who claims they do not have an agent wants me to show one of my listings. 

If I am working with a buyer - ABSOLUTELY!!!!

Apr 09, 2024 07:43 AM
Rainmaker
5,894,641
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

With our luxury listings, many require either approval or proof of funds prior to showing.    We haven't ever seen this process in our average-priced homes.  This would be for showings on my listings.   Before I show homes to buyers, always want to have a pre-approval.

Apr 09, 2024 07:39 AM
Rainmaker
1,563,565
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I require a pre-approval and POF with every offer upfront.
During the pandemic I required it to show and I still do in advance on luxury homes and or when it's difficult for my seller to leave the house. But, I have not required it for showings since 2021.

Apr 09, 2024 02:16 PM
Rainmaker
1,342,769
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I do not require proof of the buyer's qualifications in order to show my listings. I don't want to discourage a possible purchaser.

If I am the buyer's agent,I tell my clients that there is no point in looking at homes until they have a loan approval. They need know what they can afford and so do I. If we find the perfect home and they do not have a loan approval, I cannot write an offer for them. All listing agents insist that a loan approval be submitted with an offer. Also, proof that the buyer has the funds to close.

Apr 09, 2024 08:16 AM
Rainmaker
1,064,611
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

As a listing agent, in R remarks: PREQUALIFY YOUR BUYERS.

Unless seller requires proof, I'm gonna hope the agents can read. Yes I dare to dream! 

For my buyers . . . I will ask unless they are known to me, which most are. 'The sellers are asking for prequalified buyers, have you spoken to your lender about your purchase?'  If a guy holds up his phone and he's got a 7 figure bank balance, I'm gonna call it good for the moment.

The number of agents who are toaster pastries and will fly out the door to let unqualified buyers waste everyone's time are legion and in many cases encouraged by their brokers . . . 

If BBAs become required by all as it seems they may be . . . this 'worst practice' may be curtailed . . .

Apr 09, 2024 08:04 AM
Rainmaker
1,511,053
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Depends on the price range and if it's agent accompanies or not.  Over a certain price point, it's a requirement.  And no agent is going to rush out to show an unqualified looki-loo buyer.

Apr 09, 2024 08:20 AM
Rainmaker
917,818
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not always. It depends on the answers I get from a few questions. In some cases, sellers will require it so they don't waste time with curiousity seekers and unqualified buyers.

Apr 09, 2024 11:58 AM
Rainmaker
500,696
Matthew Sturkie, CRS, GRI 909-969-3805
Action Realty - Apple Valley, CA
CRS, GRI 909-969-3805

I don't do it and it's not common in my area. I have only seen it a few times on high end properties.

Apr 09, 2024 08:05 AM
Rainmaker
913,611
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

I do put it in the financial remarks. I also require it when I'm working with buyers. However, I don't request a copy as a listing agent except for occasions such as high end luxury, people who have difficulty leaving the house, sellers who have very expensive items in their home or the sellers don't want certain people seeing their home (ie ex spouse). 

Apr 10, 2024 04:58 AM
Rainmaker
1,588,998
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I usually don't.  I let other agents freely show the house and try to offer as few restrictions or preconditions as possible.

Apr 09, 2024 05:13 PM
Rainmaker
904,383
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Yes, it's fairly common practice for experienced agents. Some newbies might not be as diligent. 

Apr 09, 2024 02:39 PM
Rainer
385,252
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

really depends on a lot here, is house occupied?  price point?  It's not seen a lot.

Apr 09, 2024 12:31 PM
Ambassador
2,082,934
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Cicadas are coming! Cicadas are coming!

Some of the pricier properties in our area have listed that requirement on the listing, but it's not a common request.

Apr 09, 2024 12:24 PM
Rainmaker
7,909,387
Roy Kelley
Retired - Gaithersburg, MD

It is not usually required for showing but often required with contracts. 

Apr 09, 2024 12:05 PM
Rainmaker
144,755
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

I do not on my listings / it is extremely rare that agents require that in my markets of Central and Southern NJ.    I did see it recently on a $150,000 listing which was cash only.

Apr 09, 2024 09:00 AM
Rainmaker
2,414,303
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I did when I was active and it weeded out a lot of weeds Peter Mohylsky, Beach Expert . The red flag that came up often was "It's not your business"... NEXT!!!

Apr 09, 2024 08:34 AM
Rainmaker
480,930
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, SFR®, e-PRO®, GRI, AHWD, REALTOR®

Peter Mohylsky, Beach Expert 

I have always asked the buyer's agent if the buyer is familiar with the area of the listings that they want to show. I do trust that the buyer's agent has seen the pre-approval of proof of funds. I do not require to see it.

Apr 10, 2024 06:55 AM
Rainmaker
5,280,456
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

I am with Kathleen Daniels, Probate & Trust Specialist on this one and moving on!

Apr 10, 2024 05:06 AM
Rainmaker
5,138,625
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

When they make an offer I want to see a pre-approval (not a pre-qual) letter or proof of funds if it's my listing. If I'm working with a buyer, I want that information before I waste a lot of time showing property they might not be able to afford.

Apr 10, 2024 04:12 AM
Ambassador
6,461,292
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I generally require it, especially if I am doing the showing.

Apr 09, 2024 10:23 PM
Ambassador
3,175,934
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I learned a long time ago that a prequal letter doesn't mean much from some lenders.  We can ask, we can be provided, but it ain't closed til it's closed.

Apr 09, 2024 01:08 PM
Rainmaker
857,470
Gwen Fowler SC Lakes & Mountains 864-710-4518
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

Prequal is a must or proof of funds if they are paying cash.  My sellers want their property viewed by unqualified buyers.

Apr 09, 2024 12:13 PM
Rainmaker
2,791,915
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

A buyers agent who is on top know this & if they don't, says quite a bit too. I do make exceptions in the moment never forgetting my first fiduciary duty to my client & the mission. If an agent or person wants to see and not buy, be honest about it no reason necessary & I will consider the request

Apr 09, 2024 10:55 AM
Rainmaker
4,997,918
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I want it first most time

Apr 09, 2024 11:02 AM
Ambassador
5,292,456
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Sometimes, Peter. It all depends upon the sellers' requests. They definitely must present a pre-approval with an Offer submission.

Most of my buyers are repeat and referral so, I know they are qualified. When it is 'expected' to show a property, we can easily get a pre-approval or POF prior to their showing.

Apr 10, 2024 09:40 PM
Rainer
345,166
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

The business works a bit different here. If the buyer is looking at co-op's (about 70% of the inventory), the co-op board, who can reject a buyer, is going to be a lot stricter than a bank would be- so the pre-approval isn't very meaningful though of course it's a starting point. Having the buyer complete REBNY Financials statement - which is part income statement and part balance sheet is the superior tool. Typically as I walk a buyer through understanding the multiple levels of qualifying to buy a co-op - I find that most are making these qualifications themselves (sometimes with help from me) - and we adapt the search as needed. While I often don't push for the REBNY to be completed in order to set up a showing (since I typically get a great sense of qualifying or not from the phone call) - I occasionally have to have it done and provide it to the listing broker before they allow a showing to be set up. 

Apr 14, 2024 10:53 AM
Rainmaker
769,579
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

No, I do not.  Real Estate is a percentage game and limiting the number of showings decreases the goal of the seller.  I explain to my Seller that it is better to be uncomfortable for a short time and get people into the house rather than prolonging the process by limiting the number of showings.

Apr 11, 2024 10:27 AM