Tammy Adams ~ Realtor / Podcaster, A Maricopa Agent who Works, Lives & Loves Maricopa (Maricopa Real Estate Co)

Spam prevention
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

One would think that it would be wise to talk with them. It would not be advisable to start showing properties until they are qualified.

May 20, 2015 06:13 PM
Hank Dugie
Brockway Realty, LLC - League City, TX
Mr. League City

I'm okay with buyers not having a prequal letter, but before I show a property I at least direct them to several lenders and ask that they call before we go out.

May 20, 2015 02:45 PM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Because with the seller, there is only one focus property. With a buyer, one home suddenly becomes three or four and still unqualified. A day later, and where are you? Still driving the unqualified buyer around because you have invested already too much time and are afraid to lose them.

May 20, 2015 11:35 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Tammy. You ask a great question, I suppose it would have something to do with your available time. I know many that would spend the time and many that would not.

May 20, 2015 06:57 PM
Raoul Loustaunau
EXP REALTY - Phoenix, AZ
urhomefinder.com myvaluetoday.com

well it depends what you mean as for time , i meet them and talk to them

see what they like but i will not show homes without a prequal and with the market that is hot in phoenix it would be a time wasted . just what i think

and remember the listing client you are not going to show them homes

May 20, 2015 03:33 PM
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

A seller who calls you to their house does not need to be qualified in order to sell.

An hour of my time to meet with a buyer ? Sure.

An hour of my time to show them property without a PQ? not a chance. It is not just an hour...it is more time to research and set appointment.

Besides I will never waste another agents time ( or a sellers time) to set an appointment or call me back to answer questions or even have to meet me at the property for a buyer that I am too chicken shit to get a PQ on, up front.  That buyer may be a total flake with two nickels in their pocket.

Agents that just show without knowing the buyers buying capabilities are UNprofessionals. They waste another agents time no differently than the buyers that have no problem wasting your time.



May 21, 2015 03:14 AM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I do. 

May 21, 2015 12:26 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I will, it is the only way to turn potential buyers into buyers. 

May 20, 2015 10:59 PM
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I call it tangible evidence Tammy. Hopefully we've taken the time to confirm that the potential listing is owned by the same person we're talking to. The potential Buyer on the other hand is an unknown entity. After getting to the point where they need financing, a redirect is in order, you should know within minutes if it's necessary. I do this for their sake, not mine! 

May 20, 2015 10:49 PM
James Dray
Fathom Realty - Bentonville, AR

I use that time to explain what to expect and be sure they will take the time to get that letter.  Without it you may be showing them a 200K home when they only qualify for a 80K home.  

May 20, 2015 09:54 PM
Renee Paray
Coldwell Banker Realty - Blue Bell, PA

Great question. I meet with potential buyers, prior to showing them listings. I inform them on the process and what they can expect and what is expected of them. After they are comfortable with the process and they still want to see a home, I will show it to them. However, I always let them know that they cannot submit an offer without a prequal, so they may be disappointed if they see a home of their dreams without being prequalified. 

May 20, 2015 09:45 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I absolutely do give a prospective buyer that hour of time and also make sure they are introduced to the right people to get pre-qualified. That up-ront investment in time has garnered me lots of sales in future which I wouldn't otherwise have gotten with little investment of my time in the interim.

May 20, 2015 09:07 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Because it could be years before they qualify and a crystal ball of what is required by then...there is no accurate information.. You can put them on a mailing list and keep them informed and let the lender tell them what they need to do with current programs....and be aware of a change of programs or circumstances....ie USDA if credit is rasied etc.

May 20, 2015 08:14 PM
Holleay Parcker - Spinnaker Realty - Serving Clients From Corolla to Hatteras
With 14 Yrs Experience in Outer Banks Real Estate

My market is primarily second homes and investment properties on the Outer Banks of NC, so most of my buyers are coming from out of state.  They typically find me on the internet, and once they reach out to me, then the conversation begins.

Early on, I ask them to get prequalified over the phone with a local lender.  I have two reasons for doing this.  First, talking to a lender quickly separates the wheat from the chaff - meaning, if someone is serious. they are ready to get prequalified...if they just want to spend a fun day at the beach touring houses with no intent to buy, they will either make an excuse or outright refuse to call the lender.  I sell houses; I'm not a tour guide, so this tells me who I should be spending my time with.

The second reason I want the buyer to speak to a lender early on is so we can know with certainty what price range to look in.  Frequently, buyers don't know what they can qualify for as a second home, and I need this information before we begin looking...

Buyers require far more time throughout the transaction than sellers do, and I want to get off on the right foot, a) knowing they are serious and b) knowing the right price range to search in before they make a trip down to look at homes.

May 20, 2015 07:52 PM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID

I have no problem meeting them up front and showing them homes the first time without being prequalled.  Knowing what you know as an agent, would you want to give your prequal to an agent you don't know if you were relocating?

May 21, 2015 06:33 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I always discuss the home buying process with the buyers and do not expect them to be prequalified when I talk to them. 

May 21, 2015 05:37 AM
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

I do a buyer consult with buyers average meet time 45 min. to 1 hour.  Then the lender comes in to speak with them and get their application started.  It works and the buyers are happy!

May 21, 2015 02:56 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Tammy -- it depends and I often will spend time explaining the process or showing one or two properties to a buyer who has not yet been officially "approved".   

May 21, 2015 01:29 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Because I would not know if that buyer could purchase in a particular price range without a prequal.  I will prequal them emotionally, and let my lender prequal them financially.

May 21, 2015 12:19 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I would be fine with sitting with a buyer for an hour and discussing what needs to be done prior to seeing properties....and then discussing what the buyer wants to see after the pre-approval letter is in hand.... it's called a free consultation.....just as we give a free market analysis.... it's always a wise decisions for both buyers and sellers....

May 21, 2015 12:13 AM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I like Hank Dugie response, Basicly, my 'contract' with the listing agent is that I will bring ONLY qualified buyers into the seller home. That IS the listing agents and sellers EXPECTATION

Now, of great importance is the SOURCE of that buyer. If from an agents referral network, there is signifcant reason to assume they are qualified.

If this is a lost Zillowite, an agent would be well advised to introduce them to a preferred lender to complete 5 mintues interview. 

My question would be, if the Zillowite buyer is unwilling to invest 5 minutes in a telephone interview, the red flags are telling me the HOUR that is suggest an agent spend should have other pruposes besides business.

This is a business, not a hobby.

May 20, 2015 09:36 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate


Dec 21, 2018 06:22 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Talk with them for an hour - yes. No Prequal, No Buyer Broker Agreement = No showings...

Happy Holidays, Merry Christmas and a very Happy New Year!

Dec 25, 2017 04:51 AM
Jillian La Rocque
St Thomas, VI

Great question! Many great answers. Locally, there is not prequal system in place.

May 26, 2015 03:40 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tammy Adams ~ Realtor Maricopa, AZ - good question. I always meet unqualified buyer before we go and see a single home! And that's for couple of hours....

May 25, 2015 03:44 PM
Tammy Adams ~ Realtor / Podcaster
Maricopa Real Estate Co - Maricopa, AZ
A Maricopa Agent who Works, Lives & Loves Maricopa

Thank you to everyone who has been answering. I might do a blog post on all my thoughts as they are many after reading the comments.  While I understand no one wants to have their time wasted, it is a cost of doing business. If you screen well you will "win" more than you will ever "lose".  I know I have and those that do it well have also. 

May 21, 2015 08:34 AM
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

People think they can afford more than is actual. Hoping and wishing and dreaming.  Not on my clock.

May 21, 2015 08:18 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tammy Adams ~ Realtor Maricopa, AZ Buyers expectations are always higher than what they can really afford. Why spend time showing homes out of their price range? The preapproval letter will tell you and them what they can afford. We have to work smart.

May 21, 2015 02:06 AM