Are you mad at a real estate agent?

Are you upset with a real estate agent because they won't show you a house without a pre-approval letter?

Here are the real estate agent's reasons why they won't show you a house without a pre-approval letter

1. Home sellers and listing agents won't accept a purchase offer without a mortgage pre-approval letter. Home sellers want to know that the buyer can buy a house and that it isn't a dream. I used to do mortgages and I can't tell you how many people think they can buy a house. But there is no way they would be approved for a mortgage by lenders. So if you don't have a pre-approval letter then you can't get your purchase offer accepted. It won't even be looked at. They won't even accept it if there are no other offers.
2. Without a pre-approval letter you are just a "looker". If you are not serious enough to get a pre-approval letter then you aren't a serious buyer in the eyes of many real estate agents. So why should they waste their time and gas to show you a house you are not serious about. It doesn't take much time to get a pre-approval letter. So many real estate agents feel if you won't take 20 minutes to get a pre-approval letter you are not serious about buying. Agents want serious buyers. They have seen enough houses they don't need to see another one with somebody that isn't ready to buy.
3. The line "I'm serious" or "I'm going to buy" and it won't be with a real estate agent that won't show me a house with out a pre-approval letter. Unfortunately as most experienced real estate agents and mortgage people will tell you.... they want serious buyers that can prove it. In today's market many people can't get approved because of the tougher bank rules. Even though you think you can or that your were approved a year or two ago. It's a new world of banking and mortgage lending.
4. Real estate agents are busy like everybody else in life. They only have so much time in a day. Do they spend it with a serious buyer who has a pre-approval letter or a "looker". They would rather spend time with their family or enjoying time off than a spend time with a non-serious buyer.

So my advice to anybody thinking of buying a home..... get your financial affairs in order and see a mortgage lender to get a pre-approval letter. Plus you should have figured out what you want in a monthly payment before you go to the mortgage lender. It will only take a few minutes to get pre-approved and you will be ready to get the home of your dreams.

Whether you are a Livonia real estate home buyer or a Farmington Hills home first time buyer get yourself a pre-approval letter.

Russ Ravary your Metro Detroit real estate agent

helping Oakland and Wayne County real estate buyers and sellers (Michigan)