Posts Tagged ‘home’

Hey Everyone and welcome to our 2nd in a series we are producing around the career that we love… real estate.

This is going to be your source for some real estate straight talk – the real deal, real scenarios, myths and myth busting, the rules, the ethics, the process, the expectations – what you really need to know. So here we go!

WHY DO REAL ESTATE AGENTS ASK IF YOU ARE PRE-APPROVED?

 Have you ever walked into an open house, or called a realtor about a listing, and within minutes, they’re asking you if you are “pre-approved” for a mortgage?

If you haven’t, then you have never met a REALTOR®. Or at least enough of them…

Just wait. It’ll happen.

And you’re going to feel like it’s pretty pushy for them to ask that.

You think….you’re joking….right?

You would think its none of their business if you’re pre-approved or not!  You just want them to show you the house and you’ll get the pre-approval if you like it.

But it’s no joking matter.

You will find it depends on the REALTOR®. We all have different personalities. We all come across in different ways. We all handle how we meet, greet, and chat with consumers in different ways. There’s no one way to “be”, as a REALTOR®.

But every single REALTOR® should be asking you if you’re pre-approved. 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…

…because it’s entirely relevant for them to know.

…because it’s entirely important for you to be pre-approved.

It might come across as a pushy, or invasive question. Maybe that is because of how a REALTOR® asks the question. Or when the REALTOR® 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.

And you should expect the question, be prepared to say that you are pre-approved, and…you should actually WANT the REALTOR® to ask you that question.

It’s not like a first date where if your date asks you – “How much do you make” in the first five minutes, you’d feel like that was pushy and weird…..

Creator:Jacom Stephens
Credit:Getty Images/Vetta

and likely that would be the end of the date.

Rightfully so.

Which is why it seems so invasive when a REALTOR® 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.

But asking for a pre-approval isn’t like going on a first date. It isn’t a marriage proposal. And it isn’t probing on the part of the REALTOR®.

It is a necessary question, and an important piece of information us to know. And for you!

So Why do we ask you if you’re pre-approved?

We aren’t asking you if you’re pre-approved because we’re looking to size up how much you can spend. (At least not most REALTORS®…)

We want and need to know that you are serious, and qualified to buy a house.

And we certainly have their reasons for wanting to know…

As Real estate salespeople we need to make sure we are working with someone who can actually buy a house. We are one of the only service industries that doesn’t get paid unless and until the person we’re working with buys a house. So, this is a matter of being careful about who we spend our time with. It might sound selfish…but you can’t fault us for that. We’re in business. Nobody cuts us a paycheck every second week. And showing people houses is not a public service or charity work. Even working with someone who is pre-approved doesn’t guarantee that we are going to make any money. But at least it’s an indication that the person we are working with can do something.

We also need to know how much you’re pre-approved for in order to advise you as well as possible. Picture us 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 us. It doesn’t do either of us 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 all.

Caring professional REALTORS® also don’t want you spending your top dollar and putting you in a mortgage poor position. No one likes bologna or hot dog budgets that much.

And, to a degree, this is a safety precaution. You might not believe this, but we are in a pretty risky position. If we 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 us at risk. Sure, a pre-approval won’t necessarily stop an evil person from doing something, but this is a pretty basic precautionary request.

So Even if you have just started looking for a home and haven’t gotten pre-approved (yet)…at least expect the question. Don’t be offended when you’re asked if you are.

In fact, pay closer attention to the REALTORS® who do ask if you’re pre-approved! The ones who ask make it easy for you to find a great REALTOR® to work with.

Because if 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 REALTOR® 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 REALTORS® you come across, don’t even let them have to ask if you are pre-approved…

Get pre-approved before you even start looking. And let the REALTOR® know you’re pre-approved before they even ask. You’ll set yourself apart from almost every buyer the realtor has ever met.

Don’t know where to start to get pre-approved – some very quick points;

1. If you have a favourite bank, make a call and ask for their MOBILE mortgage specialist.
2. Call a mortgage broker – the advantage here is they only do one credit check and then shop around for you! You can get a couple of names just from REALTORS® websites – good ones have a dedicated page of referrals for professionals they know and trust.
3. Don’t go to more than 2 banks and one broker – it will start to affect your credit score!

Just another piece of advice so you can REST easy and know we’ve got you covered. As always – we are happy to answer any and all questions you may have on this, or any other topic – we are only an email or phone call away!

For more information you can;

Listen to our podcast – https://bgmteam.podbean.com

Watch us on YouTube – https://www.youtube.com/user/myottawateam

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Is your home safe when you go on vacation?

Brought to you by Public Safety Canada and the Royal Canadian Mounted Police, with information from the Canada Mortgage and Housing Corporation.

For many people, summer means vacation and a vacation can mean leaving your home for a longer period of time than usual.

Many people who go on vacation wonder if their house will be safe while they are away. When you go on vacation, the last thing you want is a phone call telling you that your house was robbed- or even worse- coming back from vacation and discovering damage and loss. Here are some tips for securing your home.

• Before you leave, check every door and window to make sure that everything is locked and sealed, including your garage door, shed, and basement windows. Also, make sure that you have no spare keys lying around that are “hidden” under a mat or under a rock. Burglars know where to look and a key gives them easy access. If you have a sliding window or door, put a piece of wood or a long metal rod on the track so that it can’t be pushed open.
• Set timers on lights outside of your house. The darker it is outside your house, the more appealing it is going to be for burglars because they cannot be seen. Also, timers help give the impression that someone is home.
• Make sure that your newspapers and mail are picked up or put on hold. If papers and mail are piled up outside your house, it is obvious that someone has not been home for a while.
• Leave some blinds or drapes open. If your house is completely closed off, it is going to look like no one is there. If you make it appear more normal, it is less obvious that you are away.
• Arrange to have a trusted family member, neighbour or friend to check on your home. Even if it means having them going into the house to water the plants, they can take a peek around to make sure that everything is okay.
• Going on a vacation is an excellent reminder to ensure you have an updated inventory of household goods which may include appliances, jewellery, firearms, and other valued items.
• If you have any cash, jewellery, or any other valuables in your home, take them out and put them in a safety deposit box. It costs money for this service, but it is far better than if someone were to break into your home and find your valuables.
• If you are a firearms owner, please ensure you secure and store all firearms in accordance with the Firearms Act and Regulations.
• Set timers on electronics inside your house. Put one on a lamp or even a radio. If someone is watching your home and sees that there is no activity going on inside your house, it is a clear indicator that you are not home.
• Make sure that your home security system is on. Don’t forget to tell your friend or family member the code so that they do not set off the alarm when they check on your home.

A vacation is supposed to be a relaxing time. There is no reason why you should have to spend time worrying about the safety of your home, as long as you make sure to take the necessary precautions.

Assess — Then Address

Assessing your home’s security is an important initial step in crime prevention. Essentially, your home should look protected, well-maintained and appear to be occupied at all times. Visit the Canada Mortgage and Housing Corporation website and complete their checklist, most homeowners will find that there are many areas requiring attention.

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