Last week, I had an interesting, but sadly, ALL TOO COMMON occurrence take place.
An agent made an appointment with the local showing service company we use here, MAPASS on one of my listings..
So. a couple of days later, the agent calls me and tells me, almost breathlessly, "I'm gonna get an offer on your listing today!".. You'd think I haven't seen an offer in over a year with the "enthusiasm" she had.
True enough, I get the offer.
Without a preapproval.
Come on, what the heck? Like I'm gonna get my seller and recommend they sign that offer. Yeah. ooookay...
Let me ask, in this day and age, what listing agent wouls recommend an offer to their listing clients from a buyer who doesn't submit a written preapproval from a reliable and "known" lender or mortgage institution?
Better yet, what showing/buyer agent even goes around with buyers like that?
if you are a buyer agent, and you get an offer from an unqualified buyer, and suppose for a moment, you are dealing with "Igor Idiot' real estate LISTING agent, who gets his sellers to sign the offer, you have just done a terrible disservice to the buyer!
So you all go through the motions. The buyers plunk down a couple of hundred dollars on a home inspection on a house they will never buy. They lose money and time, YOU as a buyer agent lose money and time, in short, everyone does..
Some agent YOU are!
Yet, this sort of thing happens ALL the time, believe me. I can't believe I have to even ask for a preapproval when I get some of these offers..
Just unbelievable..
Are the agents nervous about asking for one? Do they figure they can get "practice"? Practice in what? Burning gas? Wasting time? Looking like a "Realtor(R)"?
REALLY unbelievable...
So, the thought occurred to me, should I demand a preapproval letter or, for those "cash" buyers out there, proof of funds, FIRST, BEFORE THE SHOWING?
It may drive down showings. What I'm really worried about is, doing this may "offend" some buyers and their agents into NOT showing my listing.
But then on the other hand, it's okay to show my listing to totally unqualified buyers?
Something has to give, wouldn't you say?
I'm here, and I ain't going no place... What do YOU think?
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