5,112,471
(1) How does what you know about the agent indicate that their buyer is not qualified?
(2) I am only interested in a pre-approval (not a pre-qualification) letter if/when a buyer makes an offer.
(3) By the way, I'd be very careful asking for this if you are not asking for one from each and every prospective buyer coming to look... I'd be concerned about a discrimination law suit if word got out.
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Terri Woods
Days Creek, OR
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Jill Murty, Realtor - ...
Laguna Niguel, CA
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Becca Rasmussen
Highlands Ranch, CO
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Kathleen Daniels, Prob...
San Jose, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
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Pete Xavier
Pacific Palisades, CA
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Ron and Alexandra Seigel
Carpinteria, CA
1,056,272
Wait a minute. Based on what you know about the agent? What exactly do you know about the agent that would cause you to request paperwork from a buyer that you don't know?
What you could do, is tell the agent seller wants only qualified buyers to view the property, can you tell me whether you have a PQ and/or proof of funds in hand?
Then what will you do if they say that's not your business right now. You still need to cooperate.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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John Wiley
Fort Myers, FL
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Fred Griffin Florida R...
Tallahassee, FL
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Michael Jacobs
Pasadena, CA
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Pete Xavier
Pacific Palisades, CA
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
2,456,409
If the seller wants me to ask everyone for a preapproval letter prior to showing, I would do so. Otherwise, I wouldn't put any impediment to a specific showing that could lead to a valid buyer.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Pete Xavier
Pacific Palisades, CA
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Becca Rasmussen
Highlands Ranch, CO
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
4,582,284
It depends. I'm in California it always depends.
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Terri Woods
Days Creek, OR
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Jill Murty, Realtor - ...
Laguna Niguel, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Bob "RealMan" Timm
Minot, ND
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Pete Xavier
Pacific Palisades, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Nina Hollander, Broker
Charlotte, NC
5,772,587
Jordan,
Like Michael Jacobs we are from California and it does depend. However, as I read the answers, I think that Nina Hollander makes an excellent point, and one shoud not judge on previous experience. One of the agents that many considered "flaky" brough us a tenant whose lease was paid by Disney. And Disney is not flaky at all...
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Bob "RealMan" Timm
Minot, ND
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
5,583,328
no, but I'd demand to see a preapproval letter and details about the buyers qualifications, if an offer was written and submitted....
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Eve Alexander
Tampa, FL
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Michael Jacobs
Pasadena, CA
5,060,544
If you are concerned in general I would put this in the listing as it is something that should be asked of EVERY buyer and buyer agent. What is it that makes you suspicious?
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Jill Murty, Realtor - ...
Laguna Niguel, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,684,569
High end houses, Tallahassee brokers want pre-approval or proof of funds letters prior to showing. We don't need sightseers gawking at luxury houses.
For other properties, we don't require a letter prior to showing, but your offer must be accompanied by a pre-approval letter.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Jill Murty, Realtor - ...
Laguna Niguel, CA
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Greg Large
Grove City, OH
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Pete Xavier
Pacific Palisades, CA
4,900,966
I don't think this is a decision an agent should be making. Give advice to you client and let them make the decision. In addition having this restriction on some buyers and not all may be a violation of fair housing laws as you are not providing equal levels of service.
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Pete Xavier
Pacific Palisades, CA
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Fred Griffin Florida R...
Tallahassee, FL
1,506,013
It's a common practice in Malibu and other places where the prices start at $5m and go up, up AND AWAY! It's required on the $87m property by me too if memory serves.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Pete Xavier
Pacific Palisades, CA
3,349,404
Whatever you do make sure you level the playing field ... what you ask of one ask of all.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
402,010
I always state in the listing that a Pre-Approval Letter of Proof of Funds Letter accompany an offer.
If the Seller wishes to restrict showings by requiring a letter before showing, we would have to have a discussion on that.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Becca Rasmussen
Highlands Ranch, CO
1,712,030
Not unless they're submitting an offer.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
5,239,029
Wouldn't waste my time with a pre-qualification letter. I know nothing about there buyer.
If they were submitting an offer would ask for a pre-approval letter to help the offer.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
269,109
If the home is in a price range that is considered a luxury home, yes. And I would put that a prequal letter is required prior to showing in the agent comments.
However, I really try and make my listings very easy to show. So unless the showing is a burden to the sellers, I would not be too worried about it.
I would be very careful about treating one agent different than another. It may be perceived as discrimination though you were basing it off of past actions from the agent.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
4,434,177
2,784,566
Pre-approval letter subject to apprasisal at offer stage. Showing no... Unless it is a high-proced home and you want to weed out time-wasters and looky-loos
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,299,367
Unless the seller has asked for you to ask each and every agent to show their client is prequalified before all showings it is a can of worms that should not be opened.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
3,986,308
Some of my clients have requested one 24 hour in advance. Only ask if the seler requires it
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
3,416,038
Most buyer agents are checking their buyers, there are a couple around her who are known not to and i will ask. I like to see pre approvals more than pre qual. I will ask if they have pre qualfied the buyer without hesitation on my luxury listings
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,466,257
Jordan Ayan No, submit a pre-approval letter with the offer.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
7,863,214
No.
However, I would not be showing properties to an unqualified prospect.
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Bob "RealMan" Timm
Minot, ND
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Pete Xavier
Pacific Palisades, CA
2,400,161
Probably not for a showing unless I had reason to believe the Buyers intentions we not honest.
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Michael Jacobs
Pasadena, CA
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Fred Griffin Florida R...
Tallahassee, FL
715,782
That is a legitimate concern and a legitimate request.
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
3,071,489
Candice A. Donofrio nailed this one!
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Candice A. Donofrio
Fort Mohave, AZ
4,800,132
I wouldn't unless it was a super high-end listing.
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Bob "RealMan" Timm
Minot, ND
4,319,773
Jordan Ayan - depends on what kind of showing it is. For luxury home, yes!
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Bob "RealMan" Timm
Minot, ND
1,624,853
It is really required for showings in my hood, unless it is a high end property.
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Bob "RealMan" Timm
Minot, ND
2,191,798
6,418,120
Dont waste your time on the PreQual, go for the PreApproval.
I do require this on all showings in tenant occupied homes.
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Bob "RealMan" Timm
Minot, ND
902,038
You may ask, but you may not get. The more appropriate time would be if an offer were being placed. Your suspicions are "hearsay".
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Bob "RealMan" Timm
Minot, ND
3,988,013
I know some agents do this before showing, but I would not. You never know for sure until the buyer really wants the house. I have seen rabbits pulled out of hats.
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Bob "RealMan" Timm
Minot, ND
1,241,754
Our area no preapproval letter,pof, 3 % deposit, no release in appraisal. No processing of offer. No exceptions.
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Bob "RealMan" Timm
Minot, ND
4,960,530
5,877,335
How would we know? If they present an offer, they better have a lender letter or proof of funds.
1,323,044
If my listing is a very high-end property, I might want proof of financial capability to perform in order to screen out looky-loos. I might also want to be there for showings. No idea why you have a concern about the agent, of course, and do not want to know.