When selling a home, one of the questions that often comes up is whether you should require buyers to be pre-approved before scheduling a showing. While it is not always required, asking for a pre-approval letter can offer several benefits to both sellers and agents.
What Is a Pre-Approval Letter?
A pre-approval letter is issued by a mortgage lender. It confirms that a buyer has submitted financial information and is likely qualified to borrow up to a certain amount. It shows that the buyer has taken the first step toward securing financing.
Why Sellers May Require Pre-Approval Before Showings
Makes Sure Buyers Are Serious
Requiring pre-approval helps ensure that the people walking through your home are qualified and serious about purchasing. It reduces unnecessary traffic and protects your time and privacy.
Protects Your Schedule and Home Preparation Efforts
Getting a home ready for showings takes effort. Sellers often clean, leave the house, or adjust their schedules. Pre-approval helps confirm the showing is worthwhile.
Gives You Stronger Offers
Buyers who are already pre-approved are typically more prepared to make an offer quickly. In competitive markets, pre-approved buyers are more appealing to sellers.
Helps Prevent Delays Later
If a buyer does not have financing in place, it can cause delays or even fall-through after you go under contract. Pre-approval reduces this risk.
Should It Always Be Required?
Not always. For lower-priced homes or homes in slower markets, some sellers choose to allow showings without pre-approval to attract more interest. However, for luxury listings, high-demand areas, or occupied homes, requiring pre-approval is more common.
Final Thoughts
Requiring pre-approval before showings is not mandatory, but it can provide peace of mind, reduce unnecessary visits, and help sellers focus on serious buyers.
If you are selling a home in Greenville, Simpsonville, Five Forks, or anywhere in the Upstate, I would love to guide you through the process. I am Monica Barnett, a local real estate agent with Coldwell Banker Caine. Let’s make your selling experience smooth, informed, and stress free.
