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But It's Your Job To Show Houses!!

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

Open Door"But It's Your Job To Show Houses!!"

That's a quote we'd NORMALLY agree with!  But there's an important condition that applies, the buyers MUST actually be able to purchase the home.

We're not here to just show homes willy nilly!  It's got nothing to do with gas pushing $4 a gallon and EVERYTHING to do with our obligations to our clients.

Our sellers expect us to bring QUALIFIED buyers through their door.  Otherwise, would YOU want to be asked to leave your home for an hour or two just so someone can take a guided tour?  Wouldn't really appeal to you if you knew those "tourists" couldn't actually purchase your home would it?

And as much as we'd PREFER to not show homes until we know the buyer has a preapproval letter, in the interests of not discouraging buyers from looking at our listings, we typically WILL make that first showing "for free".  There are too many competing homes on the market for us to bypass what might be a valid opportunity.  So we and our sellers will permit that initial disruption to our schedules to make sure the opportunity is created.  But after that, a preapproval letter is required.  If you're able to be financially qualified, they're actually pretty quick to get from a reputable mortgage company.  And if you don't have a trusted mortgage loan officer, you bet we can help with that!

preapproval letter

And you know what else?  It protects YOU as the buyer!  The LAST thing we ever want to do is take you into a home, have you fall in love with it, and THEN realize it's just a bit above what you can afford!  It's a heart breaker to all of us, and we HATE to break hearts.  So a little preliminary work truly is in YOUR best interest.  And that mortgage check might tell you NOW is not the time to buy your home.  We're patient individuals, whether you're ready to go today, or a year or two from now, we'll be ready and happy to serve you!

So if we tell you "NO", we're not going to show you any more homes until you get a preapproval letter, it's not just to be mean!  It's our job to guard both the seller's and YOUR best interests, and getting you that preapproval letter is a critical component!

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Posted by

Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

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Comments (213)

Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Liz and Bill... All my buyers *must* be prequalified or preapproved before I show them a home... or two.  It is a waste of everyones time otherwise. 

My time is valuable.. isn't yours?

May 01, 2011 11:12 AM
Kathie Burby
Coldwell Banker Mother Lode Real Estate - Sonora, CA
REALTOR, SFR, Tuolumne County Real Estate Guide

Bliz - couldn't have said it better and I couldn't agree more. Nicely written post that should give buyers a good understanding of why we ask that they get prequalified for a loan.

May 01, 2011 11:21 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Valerie, It is, but we'll take a small gamble with that first showing.  If it was a seller's market we might take a different perspective, but this approach makes sure we don't discourage buyers with sensitive egos from at least looking at what might be their dream home once we get past the initial inquiry.

Kathie, Thanks!  It's been working for us :)

May 01, 2011 12:15 PM
Jason Cortel
Coldwell Banker - Phoenix, AZ

More than the points you just made what about the buyer.  I took a buyer out one afternoon and she just fell in love with one of the homes.  It had every single thing she was looking for.  By the time she got the pre-approval letter the house had multiple offers.  Needless to say she did not end up getting that home.

So, even from a buyers perspective it is better to have the pre-approval letter just in case that once-in-a-lifetime home comes along there won't be any delays in submitting an offer.

May 01, 2011 02:47 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Jason, Met with some buyers who'd had exactly that happen to them some years prior.  Weren't preapproved and the home they wanted went under contract while they were working on it.  They're preapproved now, lesson learned.

May 01, 2011 11:17 PM
Dan Pinson
International Realty Partners - Phoenix, AZ
Broker,ABR,GRI,RSPS,SFR,TRC

I almost always have a pre-qualification form or a proof of funds in hand before showing anything. On the few occasions I haven't had the paper in hand, you can be sure I will have researched them and their employment and asked a lot of questions before we ever do anything.

May 02, 2011 07:41 AM
Pat & Steve Pribisko
Keller Williams Greater Cleveland West - Westlake, OH

We are willing to show homes one time only until a Buyer has AN Acceptable Loan Pre-Approval Letter.  It sometimes happens that the Buyer will show up with a Pre-Qualification Letter, but that is not good enough!

May 02, 2011 08:22 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Dan, Our first showing is almost an interview in both directions.  If it's a fit, then we pursue.

Pat & Steve, One's enough, nothing beyond that without a letter.  Took that stance today with someone wanting to see more than our listing.  We'll show ours, not disrupting anyone else UNTIL we know you're preapproved.

May 02, 2011 08:26 AM
Pamela Stubbs Rogers
Vero Beach, FL

With lending guidelines they way they currently are, good for you!  No need wasting anyone's time, and qualified, committed buyers will either choose to understand or risk loosing the services of professional Realtors.

May 03, 2011 03:48 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Pamela, Encountered someone last night who wants to represent themselves as a buyer.  Wanted to see our listing....no problem.  Wanted to see OTHER listings besides ours....mmmm...NO.  You want to represent yourself, which means we get paid how??  You want to buy our listing, fine.  Anybody else, well we're not door openers.  Our time and expertise DO have value.

May 03, 2011 07:09 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wow, how different the market are. We do not ask for any qualification. We are in a resort market, and work the resort corridor, and our buyers are hunters for second/vacation home. It is all cash.

Real estate is really local

May 04, 2011 03:52 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Jon, It certainly is local!  Cash buyers here?  EXTREMELY rare, probably for cheap investment properties only, destined for a quick flip.  Not our niche and staying away from it.

May 04, 2011 03:58 AM
Carrie Sampron
Home Smart Realty Group - Highlands Ranch, CO
ABR SFR & Kathy Sampron (303) 931-3629 Highlands R

We have a lovely couple who just went under contract today after weeks of looking. What frustrates me is they made it very, very clear their max was $330K but they will put homes listed at $370+ on the list and we'd have to discuss it every single time. Yikes. Carrie

May 04, 2011 10:03 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Carrie, They're just hoping for the grand slam...someone that will peel 50k off their price.  Few and far between!

May 04, 2011 02:03 PM
Eugene Lew
RE/MAX equity group - Happy Valley, OR

Some buyers are out trolling around looking for homes while their realtor is out of town 50% of the year, and when they find an agent to show them homes, or an open house, and they like the house they want to buy, they'll call their agent to come in and write it up for them.

May 04, 2011 02:58 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Eugene, Unfortunately there will probably always be some level of that.

May 04, 2011 04:27 PM
Kent Dills
Broker, Dills Real Estate - Bellingham, WA
Real Estate 817-495-8028, Bellingham, Washington

Bliz, if one free pass is good enough for Lenn (#170), then it's good enough for me too!  Good post!  

May 05, 2011 08:28 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Kent, Thanks :)

May 05, 2011 08:49 AM
Jeff Getman
Realty Executives of Ravalli County - Hamilton, MT
Realty Executives

Liz & Bill,

Had to drop back in here and just let you know that YES, it's gorgeous out here. I'm a farm kid from Celina, Ohio--nuff said as to why I prefer Montana!!

May 08, 2011 08:39 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Jeff, I can see your point on preferences :)  Flat cornfields don't even begin to compare!

May 08, 2011 11:23 PM