Dear Prospective Buyers - It's Really Not Personal - It's Business
Another Active Rain Blogger, Kathleen Daniels wrote on a topic that is often misunderstood by the prospective home buyer. Most Realtors are serious about their business, at least they better be, or they more than likely are not going to last in real estate for very long. But, in reality, many buyers are not necessarily serious about purchasing a home. So, the points Kathleen makes are very valid.
It's our place to help educate the consumer so that we can ensure a successful transaction and positive experience for everyone. Of course, we want buyers to see the homes of their dreams but we really must get a few housekeeping chores out of the way first. If you want to buy a home in North Georgia have your pre-q or proof of funds letter ready to go. If you are not sure how to get started, a Realtor should be able to connect you with a reputable mortgage specialist who can usually handle it over the phone within 15 minutes.
The value to the buyer in obtaining a pre-q letter or having a proof of funds letter ready to go, gives you peace of mind that your time looking at homes is being spent productively. And that extra benefit of being ready to buy and showing proof to the seller may make the difference in a tight market giving your offer the edge over another.
You are so right Kathleen, it is not personal, it is business and SMART business for everyone involved.
Kathleen Daniels, Broker-Owner of KD Realty, serving San Jose and surrounding San Jose Communities in Santa Clara County - Silicon Valley. Kathleen is a Certified Probate Real Estate Specialist.
Dear Prospective Buyers - It's Really Not Personal - It's Business
Real Estate professionals earn their living by closing real estate transactions. To net that out, it simply means that when we list a home for sale, procure a buyer, and the buyer closes escrow on the home, we get paid.
If we represent a buyer looking for a home, we get paid when the buyers offer is accepted by the seller, and the buyer closes escrow on the home.
If you are a buyer looking for a San Jose home for sale, and you call me and ask to see one of the homes I have listed for sale, please understand that it is not personal when I ask you the following:
1. Are you working with an agent?
2. Have you met with a lender, submitted a loan application, and received an approval letter to purchase a home?
3. How do you intend to finance your home purchase - conventional, FHA, size of down payment, etc.?
4. Is proof of your funds to purchase a home readily available?
If you are working with another agent, then I recommend you contact that agent and request they show you the home. After all, that is what they are paid to do - right? Please know that as the listing agent, I have no obligation to show you the home when you are working with another agent. My duty, as the listing agent, is to the seller.
If you are not working with an agent, and you want me to show you the home I have listed for sale, I'm happy to do that provided I first receive, from you, a current copy of your lender approval letter and a current copy of your bank statement(s) which show you have sufficient funds to purchase the home.
I've had many buyers say to me: "If I like the home and I want to make an offer then I will provide you with my lender approval letter and proof of funds."
My response is: In my real estate business, these are the steps we take for showing homes. If you want me to show you a home, any home, then you will first provide me with sufficient proof that you are qualified to purchase the home you want to see.
It's not negotiable. Neither is is personal - it's business. I am in the business of working with qualified and motivated home buyers. If you are qualified, the seller and I, are motivated. You show me first, then I will show you.
Kathleen Daniels, Broker-Owner of KD Realty, serving San Jose and surrounding San Jose Communities in Santa Clara County - Silicon Valley. Kathleen is a Certified Probate Real Estate Specialist.
BRE# 01366594
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