Not Every Potential Buyer is Ready to Buy a Home- YET!
It seems to be a constant debate at our office - should we be required to get a Buyer Broker Agreement, Proof of Funds or Pre-qualification letter right from the moment we talk to a potential buyer?
Feel free to leave your opinion in the comment section....
Here is my view:
You can certainly waste a lot of time taking potential buyers out even though they may or may not be ready to buy, BUT you can certainly pass up a lot of money if you pass up opportunities to meet with them and show them at least a few homes so that you can build that raport with them. Why would anyone sign something with you/me at first glance, first meeting, first impression?
I personally like to meet and win them over and then get the ball rolling. Sometimes buyers are not as far along in the thought process as we would like (commission check may come in 6 months instead of 6 weeks). A script that works well for me is: "No Pressure from me... buying and selling Real Estate is a PROCESS and whether it's now, 6 weeks or 6 months from now, I want to be YOUR Realtor of choice. I want to show you how we can make the process easier, less stressful and save you money and we can do it in YOUR time frame!" I had a partner that used to say, "6 months, 6 months!! I could stand on my head for 6 months!" Meaning time flies by so fast!
The real point of being a professional Realtor is... how well can you impress them with your talents, your knowledge, your ability to help them in the way they want it and when they want it?! 
I personally don't like to force people to sign buyer broker agreements or get pre-qualified before they are ready to make that decision. Of course a quick conversation with my lender always helps us determine a price point and it helps them get comfortable with the process and my team. (sssshhh.... Don't tell my coach that - she believes in Buyer Broker Agreements and Pre-Qual letters from the get go, but I have a data base of buyers who just are not ready today, but they will be at some point. I love having a pipeline full of potential deals. When they surface, it's like a present all wrapped up and ready to be opened! Surprise! At that point I know I have done my job well in keeping in touch and giving adequate and appropriate information so they trust me, my skills, my team, and our abilities to help them thru the rest of the process.
As a Mega Agent who has bought internet leads for years, I have learned that...
Not Every Potential Buyer is Ready to Buy a Home- YET!
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