This is one of the days where I am a little frustrated.
I had a great real estate day today, but one thing really starts bothering me.
Pre qualifying buyers.
One of the first things I do with a "new buyer" is talk about the buying process and the financing.
I want them to understand what is involved and what they need to do in order to buy property. I also want them to find out exactly how much money they can spend on a purchase and still feel comfortable.
I do not want to waste their time and energy and show them properties that they can not afford. What is the point? In the end all you get is an unhappy and frustrated buyer that now doesn't even enjoy looking at properties in his or her price range anymore, because you have shown them the nicer and bigger homes already.
Why would you put your client or customer in this position?
Well, I think you get my point.
What I do not get is – in our area we have so many deals fall apart because people can not get a loan, they just do not qualify for the amount they need to buy the property.
In times like this, where it is so much more difficult to get a mortgage, I think it is even more important to pre qualify buyers.
I just can not come up with one good reason for NOT pre qualifying the buyer.