Gas prices are rising again, cost of expenses is getting out of control. We are in a market where closings are few and far between so I myself. How many properties do I show and how do I decide who is wasting my time versus who should earn my time?
Not too long ago, I worked with a lady who showed me a prequalification letter that showed she was approved for $400k. In one week, including Sunday, I must have shown her no less than 25 homes. 2 offers after, she decided that they were not really interested in buying because they didn't realise that taxes and insurance were that high.
Even with the letter, I asked our in-house mortgage broker to do one and he confirmed that they did not even qualify for 300k. What an insult? I was made to say the least.
Colleagues, friends, fellow realtors; if you can help it, get a second opinion on those letters before you put your key in the ignition. It is too expensive right now to even get into your car without conducting a second check on the customer's ability to afford the homes you are going to look at. If all else fails, ask them to take a drive to the area and see if they like the area.
Anyone can get a pre-qual letter so if you have any suggestions for everyone, please share.
Afie Makinde
Exit Realty Properties
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