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There is something wrong in this picture...oh there is really no picture.
First you said realtors do not need to know or even care to know the limit you are qualified up to....but then they just need reassurance that you ARE indeed qualified to be looking at homes in a certain range so they aren't wasting their time or the sellers time.
WTH...
Not to worry, just blow off anyone trying to get your personal information unless it is the financial institution of your choice. There are plenty of professionals out there who understand that customer respect is earned. Vote with your feet!
Most agents are adept at assuring buyers are qualified before spending time and money showing properties. Open Houses become more opportunistic for the general population but most sellers want agents to hold open houses so there will likely be unqualified parties coming through. Your agent is not necessarily the one that will be showing buyers and you don't want to limit opportunities for showings. I've sold several homes at 'open houses' to parties that were not represented by agents and I certainly did not ask for their qualifications when they walked through. Nonetheless, they were interested, qualified and closed!
Those are two entirely different concepts. If you are asking to see $450,000 homes, but qualified up to $700,000, I only need to believe that you are qualified in the $450,000 range, without knowing your top limit.
Thank you, of course that is what I meant.
I can't believe this thread is still going on
It's like people WANT to make something more complicated than it has to be.
If you're bored with talk, will you take me out to see a few $3.500,000 houses in a 100 mile radius. I don't have two nickels to rub together and I'm paying cash, but you really don't need to know all that.
Oh, where will you take me for lunch?
Quote:
Originally Posted by lovesMountains
It's like people WANT to make something more complicated than it has to be.
Well, the Canes aren't in the NHL Playoffs. Gotta do something with unrequited competitiveness...
Those are two entirely different concepts. If you are asking to see $450,000 homes, but qualified up to $700,000, I only need to believe that you are qualified in the $450,000 range, without knowing your top limit.
Sure, different concepts with the same end result. That's the point. As the old saying goes, there are many ways to skin a cat. This is exhibit A. Finance is a sensitive subject. It is very arrogance and offensive to ask "are you pre-qualified/pre-approved?" People will rile up for sure. The trust begins with the Realtor(s). There are subtle approach to know buyer(s).
...Willing to work with the buyers on what kind of house and neighborhood do they want etc...get the feeling of what the buyer wants.
...Then ask the buyer(s) "How are you going to finance your new home"? "Have you worked with any bank yet"? If they haven't, recommend one to them. See? Everyone is happy. Nobody steps on anybody toes.
It amazes me that buyer(s) always ends up taking the brunt and heat from sellers, and realtors. What they failing to understand is that buyer(s) is indirectly paying the commission. How many sellers out there didn't buffer the commission fee in the asking price? Raise your hand!
Sure, different concepts with the same end result. That's the point. As the old saying goes, there are many ways to skin a cat. This is exhibit A. Finance is a sensitive subject. It is very arrogance and offensive to ask "are you pre-qualified/pre-approved?" People will rile up for sure. The trust begins with the Realtor(s). There are subtle approach to know buyer(s).
...Willing to work with the buyers on what kind of house and neighborhood do they want etc...get the feeling of what the buyer wants.
...Then ask the buyer(s) "How are you going to finance your new home"? "Have you worked with any bank yet"? If they haven't, recommend one to them. See? Everyone is happy. Nobody steps on anybody toes.
It amazes me that buyer(s) always ends up taking the brunt and heat from sellers, and realtors. What they failing to understand is that buyer(s) is indirectly paying the commission. How many sellers out there didn't buffer the commission fee in the asking price? Raise your hand!
You err.
The material end result from two different concepts means that I really very seldom know my clients' top end.
It sometimes does come out if they fall in love with something that they just cannot afford. That is a situation to avoid, I think.
How many specifically do? My guess would be very few. I would guess most people base the asking price on comps or appraisals.
Every seller(s) has their bottom line! One way or the other , they will sneak one in. I can find that out easily by comparing their original mortgage and the asking price.
How many specifically do? My guess would be very few. I would guess most people base the asking price on comps or appraisals.
Agreed. I think they do it based on those and they hope that it'll cover the commission and they'll get a little money out of it... but in this market, it all depends on how much they put in, how well they've maintained the house, and how much they paid originally.
Maybe people used to figure in the commission pre-bubble, but things have changed.
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, they will sneak one in. I can find that out easily by comparing their original mortgage and the asking price.
