Why should I have to show my Realtor I’m qualified to purchase a home before looking at homes? 
There are several very good reasons why Realtors will want to know they are working with qualified buyers before showing them homes.
- Security for the Realtor and the seller. I don’t think there is anyone out there who would let someone off the street go through their home or pick up a stranger off the road and let them into their car. You will need to provide your home address and drivers license.
- If financing, a buyer needs to know what they can afford, what the loan is going to cost, what type of property the loan will allow, and what their monthly payment will be, regardless of how many homes they have bought in the past. The Realtor needs this information, to make the offer, to negotiate the deal, and show properties that qualify for the loan.
- The buyer just lost the house to another buyer who was prepared. It can take a week or two to get properly qualified with a lender because of all the paperwork the buyer has to give the lender to get qualified. Good credit does not qualify a buyer for a loan. It may take a cash buyer a few days to provide proof of funds. Good deals go in one day.
- Realtors are not in the business of being tour guides or taxi drivers for people who want to window shop. We expect to get paid for our services and any other hard working professional understands this.
- If paying by cash proof of funds will be required. A cash buyer is treated no differently than a person who is getting financing.
Steps the listing agent will take when an offer comes in:
1. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
2. Confirm buyer is pre-qualified by calling loan officer. Yes, the listing agent will call my buyer’s lender as they should to protect their seller.
3. Require proof of funds if paying by cash
No responsible or professional Realtor will write an offer without knowing their buyer can purchase the property. What advantage does the buyer have of getting their offer accepted if their Realtor does not know their qualified to buy the home? None. Your Buyer’s Agent is your best advocate to convince the listing agent or seller that you can buy the seller’s home.
Your Realtor is being responsible to the public, themselves, and looking out for your best interest when they tell you they need to verify your qualified to purchase a home. Work with your Realtor and you will have a positive outcome and will be enjoying your new home.
Ask me about representation. You should not assume and Real Estate Broker or Sales person represents you. In the state of Florida by law All Realtors are considered Transaction Brokers. Transaction broker represents the transaction not a specific party. The focus of a Transaction Broker is to complete the transaction, unless additional duties are established in writing under the Exclusive Buyer Brokerage Agreement. Make the right decision and be represented. Dawn Rupersburg works as a Single Agent for Buyer’s not a Transaction Broker under an Exclusive Buyer’s Agency Agreement. A Single Agent represents one party only to their best interest.
