Atlanta Georgia Real Estate Agent Tips Info and Homes For Sale ...

To explain why we ask prospects/customers/clients for Proof of Funds=bank/financial statements(if they're paying with cash), pre-qual letters(if they're getting financed) and 2-3 check stubs(if they're getting a rental) first I'll have to explain how Real Estate Agents/Realtors get paid.

The majority of us work on a commission pay scale. We get paid commission or a flat fee after the real estate transaction closes, unless we charge you a retainer fee up-front. The retainer fee is refundable to you at closing. I don't charge retainer fees at this time.

Out of that commission are several payouts before we get our share. We may have to pay fees to the MLS companies, our brokers, assistants, marketing services, etc.?In addition to what comes out after we get paid, keep in mind the things we do at our own expense before we?get paid a commission. Gas, supplies, paper, ink and?time.

I'll give you three scenarios below and explain which ones are typically acceptable.

1. Someone finds?my name and number on one of the many real estate websites out there.
   They call me interested in a certain address and?ask me to go show them the inside of the home. They sound nice so I agree to meet them at the home to show them the inside. They don't like it and want to see others. I end up showing them 12 other homes until they find one they want to put an offer on. I give them a lender's phone number to call and get pre-qualified so we can submit an offer on the home. It turns out that they can't get pre-qualified because they haven't been on their job long enough. The end result is I've spent about $250 out of my own pocket to show this person homes and they will not be able to make it to closing at the present time. It will be good to have them as a long term client/prospect but originally we were thinking they could close in the near future.*This scenario is not acceptable because?they had their hearts set on this one home and most likely it will not be available by the time they are able to qualify and?there's no guarantee that they'll stick with me.*
2. Someone calls me interested in seeing homes, I ask them to fax or email me a copy of their pre-qualification letter or account statement. They comply with my request because they understand that all sellers these days require proof of funds when we present them an offer and this is a serious buyer who really wants a home at this time. We see 7 homes until they find one they like. We submit an offer, the seller accepts it and we proceed to the closing. There are a couple of small glitches that I work through for them and we do eventually close on the home and they get the keys. I have happy clients who are now enjoying their new home. *This scenario is acceptable because the clients are happy in their new home.*
3. Someone emails me interested in seeing homes. They send me proof of funds, sign a contract with me, we see 2 homes until they find one they like. We submit an offer, the seller accepts it and we proceed to close. One day before closing the lender denies the loan, although they pre-qualified the buyers in the beginning. *This scenario is acceptable because we all put in 100% effort to get them into the home of their dreams but the financing didn't work out.*

If I already have appointments in your desired area or the home you want to see is nearby, I usually will do a courtesy showing without requesting anything from you, it just depends.

My question to the "looky loos"- Why would you use YOUR time looking at homes that you can't buy?

Source: http://atlanta-georgia-real-estate.blogspot.com/2011/06/why-does-my-real-estate-agent-ask-me.html

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