ever walked into an open house, or called a real estate agent about a listing,
and within minutes, they’re asking you if you are “pre-approved” for a
haven’t, then you have never walked into an open house or called an agent. Or
at least enough of them…
going to feel like it’s pretty pushy for them to ask that.
It’s like a joke.
you feel like telling real estate agents this knock-knock joke…
estate agent: Who’s there?
Estate Agent: Nunya who!?
business if I’m pre-approved or not! Just show me the house, and I’ll get
pre-approved if I even like the house. I can definitely get approved for
a mortgage. Probably way more than this stupid house anyway. So, stop asking if
it…maybe the agent will laugh! Or, maybe not. Depends…
But it’s no joking matter.
on the agent. Agents have different personalities. They all come across
different ways. They all handle how they meet, greet, and chat with consumers
in different ways. There’s no one way to “be”, as a real estate agent.
single real estate agent should be asking you if you’re pre-approved.
But many do not. Because they feel like it is a bit pushy and
forward. Because he or she worries about offending you. But they should ask…
it’s entirely relevant for them to know.
it’s entirely important for you to be pre-approved.
come across as a pushy, or invasive question. Maybe that is because of how
an agent asks the question. Or when the agent asks the question. Or,
simply because you don’t know that it’s a question that should be asked.
But it is
not a joking matter.
should expect the question, be prepared to say that you are pre-approved, and…you
should actually want the agent to ask you that question.
It’s not like a first date.
were going on a first date with someone, and one of the first things the person
asked about was how much money you make, and can you afford the date, you’d
feel like that was pushy and weird.
so. You don’t go in for a kiss the minute you meet each other, let alone ask
for a hand in marriage. There’s some build-up.
that, there’s some time that needs to be spent together before probing
questions about finances are asked. That kind of stuff comes way after even the
first kiss, because finances are a pretty private, intimate subject. Even more
intimate than a kiss…
why it seems so invasive when an agent you’ve just met asks you if you’re
pre-approved. It feels like they’re asking you some pretty private, intimate
stuff that’s none of their business.
for a pre-approval isn’t like going in for a kiss. It isn’t a marriage
proposal. And it isn’t probing on the part of the agent.
It is a
necessary question, and an important piece of information for the agent to
know. And for you!
Why does an agent ask you if
aren’t asking you if you’re pre-approved because they’re looking to size up how
much you can spend. (At least not most agents…)
and need to know that you are serious, and qualified to buy a house.
certainly have their reasons for wanting to know…
Real estate agents need to make sure they’re working with
someone who can actually buy a house. They don’t get paid until and
unless the person they’re working with buys a house. So, this is a matter of
being careful about who they spend their time with. It might sound selfish…but
you can’t fault them for that. They’re in business. Nobody cuts them a
paycheck. And showing people houses is not a public service or charity work.
Even working with someone who is pre-approved doesn’t guarantee them
that they’re going to make any money. But at least it’s an indication that the
person they are working with can do something.
Agents also need to know how much you’re pre-approved for in
order to advise you as well as possible. Picture an agent showing you houses for
weeks, and months. You finally find “the one”! You get all excited about the
house, and you want to make an offer, only to find out then that there’s no way
you could afford the house. This leads to heartbreak and aggravation…for both
of you. It doesn’t do either of you any good to go through all of that only to
find out you can’t afford the houses you were looking at…or even buy one at
And, to a degree, this is a safety precaution. You might not
believe this, but agents are in a pretty risky position. If they just say OK to
every person who calls and asks to go see a house, with absolutely no proof or
verification of who the person is, that puts them at risk. Sure, a pre-approval
won’t necessarily stop an evil person from doing something, but this is a
pretty basic precautionary request.
Why you should want an
agent to ask if you are pre-approved.
you have just started browsing for a home just a little bit, and haven’t gotten
pre-approved (yet)…at least expect the question. Don’t be offended when
you’re asked if you are.
pay closer attention to the agents who do ask if you’re pre-approved! The ones
who ask make it easy for you to find a great agent to work with.
they’re asking that question, it’s a good sign that they are thorough and
thoughtful about how they do their business. That’s the type of agent you want
to have on your side when you’re buying a house — one who’s careful from the
get-go. One who pays attention to the details. One who isn’t going to waste
your time any more than their own. Or allow your heart to be broken when you
fall in love with a house you can’t do anything about.
And if you
want to get some really good attention and service from the best agents you
come across, don’t even let them have to ask if you are pre-approved…
pre-approved before you even start looking. And let the agent know you’re
pre-approved before they even ask. You’ll set yourself apart from almost every
buyer the agent has ever met.
Finding the Best Mortgage
Loan: We can help
to Premiere Mortgage Services, Inc., where you’ll find the best mortgage rates and a loan program
that's best for you. We’re Robin and Dana Bain,
and we provide Massachusetts and New Hampshire mortgage loans for home
purchases and refinancing. Dana Bain has
been originating mortgage loans for over 30 years and we treat our clients like
Ready to take the step of purchasing a home or refinancing? You can rely on us
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approved for the right mortgage loan for you.
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