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Rainmaker
1,619,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

yes, it is sometimes mentioned on the listing sheet but I do it for all my clients. It's smart to 'have it in hand' before showing.

Aug 02, 2020 03:43 PM
Ambassador
3,210,849
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Yes! Sellers may request... especially now with limited showings. If you are working with the buyer, that should be easy to show a pre-approval.  

Aug 02, 2020 03:51 PM
Rainmaker
1,052,121
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Yep, in CA you can't show many homes over $1 Million without upfront proof  (pre-COVID) ...and since COVID, almost all occupied homes require it to filter out disruptive and risky exposure to the homeowners. I require it on all my occupied homes and a COVID CA-PEAD form on all showings since April.

It is quite normal and I think a great policy to not waste anybody's time.

Aug 02, 2020 03:51 PM
Rainmaker
1,448,727
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Yes, especially for high end properties. 

Aug 02, 2020 07:40 PM
Ambassador
2,353,642
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Without a pre-approval in-hand prior to showing homes, an agent is merely a tour guide. Most sellers are requiring them.

Aug 02, 2020 05:26 PM
Rainmaker
3,682,699
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Over the years, I have "heard" many things.  If asked of any/all prospective buyers, I don't see an issue with a loan pre-approval or proof of funds request to accompany a showing request.  

Aug 02, 2020 04:30 PM
Rainmaker
787,986
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Yes, Peter Mohylsky. The Santa Rosa Beach Expert! Very common and, also, common sense in this market. Homes can only be shown by appointment and after proper paperwork has been put in place. We are not interested in Looky Lous or bottom feeders. We request a loan preapproval to make sure we are dealing with real buyers who can afford  the home at the price at which it is is listed or more...since right priced, well presented homes are selling strongly in our market..

Aug 02, 2020 06:56 PM
Rainmaker
1,594,939
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Yes, this is totally within the realm of possibility!

Aug 02, 2020 06:14 PM
Rainmaker
877,834
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Yep, it seemed to coincide with the virus 

Aug 02, 2020 08:53 PM
Ambassador
2,469,872
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 What Valeria Mola said.   

Aug 02, 2020 08:15 PM
Rainmaker
4,391,748
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

When COVID first appeared in Denver, many listing agents did this, is all price ranges.  Keeps the lookey loos out.

Aug 02, 2020 04:38 PM
Rainmaker
3,502,746
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sure... all the time. And the more expensive a home the more often you get that request.

Aug 03, 2020 05:53 AM
Rainmaker
822,650
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Weeds out the tire kickers and competing listing doing their research and even those thinking about selling and doing their market research.
Usually, if the buyer agent and listing agent have a good working relationship the PA is waived.

Aug 03, 2020 05:05 AM
Rainmaker
1,917,676
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Our upper end does not want to participate in an Unofficial House Tour for nosey neighbors and looky looes

Aug 03, 2020 04:31 AM
Rainmaker
697,554
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Yes, especially since Covid has hit it's becoming a more common ask at all price points.  It shouldn't be a big deal since we should have it in hand if we're actively working with a buyer but there has been some push back in our area at price points that this "ask" isn't typically seen within.  

Aug 03, 2020 04:18 AM
Rainmaker
339,570
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Yes especially on High end properties

Aug 03, 2020 03:56 AM
Rainmaker
1,904,112
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Many years ago young man asked us to show houses in Star Island. He came with the young ladies, talking about some celebrities living in this island. We were agree to show those mansions and asked for proof of funds.

As you can guess, we did not go to Star Island. 

 

Aug 03, 2020 11:09 AM
Rainmaker
2,887,671
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Yes. Indeed. 

Most especially now during COVID.  

Great practice by the way ... it keeps all kinds of people that cannot buy the home ...out of the home.

My sense is that it will save agents a lot of time too. 

Aug 03, 2020 07:12 AM
Rainmaker
3,644,275
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

In our current environment it may be a good idea. Pre-COVID I had some issues with it.

Aug 03, 2020 06:10 AM
Rainmaker
456,746
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Sure. Experienced it last week on a mid-ranged  home. There are two sides to the topic with both sides having logic to support their stance on the topic.

I did pick up a client a few years back that shared something with me. He had contacted about 5 or 6 agents before he called our office and I happen to be on floor that day. The first 5 or 6 agents all refused to show him a home because he was not pre-approved. I said I would. While driving with him to see the home he shared with me his "view" with an analogy.

If you went to the car dealership to get a new car - and you had to go straight to the finance guy first would you like it? I want the pleasure and the opportunity to see, smell, feel the new car - kick the tires and fall in love to make it worth the "pain" and "not funness" of talking with the finance guy".  I have many many times since then picked up clients that other have told to go get pre-approved and come back later. Use common sense on your time but go ahead and let someone get excited and want a home before to push them through the dullness of providing all the documentation and what not to a lender.

Aug 03, 2020 05:24 AM
Rainmaker
5,893,769
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Yes, as requested by some listing agent.

Aug 03, 2020 11:14 AM
Ambassador
3,008,373
Anna Banana Kruchten Arizona's Top Banana!
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Not necessarily just to show.  But my question to any agent is why would one NOT have the buyers pre-qualified up front from the begginging or have their proof of funds in hand. Especially in hot markets where they probably will be multiple offers.  Be prepared to write up an offer and show the seller the buyers ableness to sell.  In my state a prequal or prove of funds must be submitted with any offer.  I simply makes sense to me.  Why would I be running around showing homes to a buyer that I don't know can qualify in the long run?  Not happening.

Aug 03, 2020 09:22 AM
Rainer
189,532
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

Yes more and more frequent

Aug 03, 2020 08:57 AM
Rainmaker
455,515
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

We as a mortgage broker do the pre approval before our clients look at properties but we don't advise providing their top dollar approved amount. We wait until the realtor and client decide on the amount of the offer. Then we provide the letter based on that. It's best not to "tip your hand". We would certainly provide the letter prior to showing if required.  

Aug 03, 2020 08:49 AM
Rainer
274,987
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Luxury has been doing this for a couple years, now with covid it limits the lookey loos and neighbors looking for design tips

Aug 03, 2020 08:32 AM
Ambassador
4,256,249
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yes indeed, and it's become more common since the pandemic. And even if you don't need to share it for showings don't you want to know that buyer you have started working with is financially qualified?

Aug 03, 2020 08:05 AM
Rainmaker
813,434
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yes. Especially with higher end homes.
Especially 'this time of year' . . . we get 'turistas' with no means or intention, just time to waste,

 

Aug 03, 2020 06:42 AM
Rainmaker
2,558,850
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I remember when it was offensive to ask for anything from someone interested in a home. Today it is not only required but separates the sheep from the goats....Also, why would anyone today who is not interested in buying (or selling) waste time doing this or any other act?

Aug 03, 2020 06:29 AM
Rainmaker
776,272
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Absolutely, particularly for higher-end pricier homes, often required.  Why waste your time?

Aug 03, 2020 08:03 AM
Rainmaker
118,629
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 40 Years

I do this before I show buyers homes just so we are not wasting our time looking at homes the buyers cannot afford.  When the clients find their perfect home we are ready to go. . . 

Aug 05, 2020 01:31 PM
Rainmaker
590,624
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

Yes, it is becoming more and more common.  I would never require it for my listings.  Limiting showings is not my style.  Some agents just don't know how to sell or want to either double end or feed their ego.

Aug 04, 2020 04:16 PM
Rainmaker
1,307,642
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  It's always been a requirement out here for particular neighborhoods and price points.  Due to the 'rona it's becoming more common in the lower end properties as well.

Aug 03, 2020 02:41 PM
Rainer
170,232
Adam Feinberg
ANCHOR ASSOCIATES - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

Proof of funds is often required in some 5th Avenue, Park Avenue and Sutton Place Co-op's in order for a buyer to view. Some of the co-op boards require that a buyer have 3 times the purchase price in cash- and they don't want people in the building that aren't qualified. I have also encountered it in some estate sales and Brownstones that are total wrecks.

Aug 31, 2020 07:00 PM