Yes. I have done this. And I've sold houses this way. That first meeting gives me and the buyers a chance to get to know each other, and for me to give them some education on the buying process. I tell them the first step is to talk with a lender, and they get it. 

I had one couple I did this with,and now I'm friends with. They knew they had some credit issues. I told them a lender could tell them how to get those fixed, and than on track to buy a house. I sold them a house less than 6 months later. 

It depends if I know them or not and if they are a referral. I may do it once but after that I want a lender involved.

The only time I have made the exception is when the buyer was a cash buyer, or was a current homeowner who was going to be selling their home and purchasing at the same time. 

As others have commented it depends, depends on whether it's my listing, whether I know them or the referring party, etc.  

Maybe they are paying cash.  Perfect.

Never, unless they are paying cash.

It is mind boggling what bad information is out there:

Most buyers think that they will buy more house than their budget allows; many think that their other debt will not be considered in qualifying; and foreign nationals think that getting a loan will be easy. Some are on Disney vacations and just dreaming of owning a home here.

Many home buyers pick a number(purchase price) out of thin air based on a "pretty" house they saw an ad for and do not realize the costs of acquisition, the cost of upkeep or what the monthy payments will be.

I do not show company listings because exclusive buyers agents work only for companies that do not list property and have no company listings.  As such, I cannot spin my wheels and burn my gas and hope that the person in the back seat is qualified to buy. 

Besides, I think that part of being a professional is having minimum requirements.  Even a doctors office will ask you about your insurance before they give you an appointment.

Eve

Yes, but I interview along the way to determine if they are serious, and if I even want to continue working with them. I can usually figure that out with one showing.

Yes.

Cash Buyers.

Occasionally if it's a first meeting and I want to establish a relationship.

The first time around if I don't know them. Spending some time with them is great for asking questions and seeing what they are looking for. But if I don't have a clear idea where their money is coming from when they want to pay cash, or they don't get in touch with lender to get pre-qualified, then I slow down with them. I tell them we can't make an offer without the pre-qual or proof of funds.

Yes, I will! This is a face to face business, and if they end up being people I want to work with, I have made the acquaintance. We know know each other!

Yes, because I learn about their needs and motivation on the fly.  They appreciate having their needs taken care of without having to jump through hoopes.

Hannah Williams Depends on the situation - if they were referred, have sold a home, etc.  However, I will refer them to several lenders.  The serious ones will make the call; the others will not.  In that case, nothing lost.

Hannah,

Yes, no one has asked us when we went looking.  A

I might depending on the situation but it hasn't happened for quite some time.

Hi Hannah - We'll do it the first time, and expect them to get busy on their loan immediately afterward. We have had few problems with this over the years.

Yes, I would and have Hannah Williams.  Alot of the buyers in our niche are paying cash, because they've just sold a home, just sold land, or have the funds for that second home.  Only a few have financed, though none were ever contingent on the sale of another home.

No unless I have been recommended by someone of trust, and even then I would get them to go online for an app.

First showing I do not ask. Second needs some assurance he/she has spoken to my loan man or have a local lender preapprove.  

Rarely.  Getting pre-approved makes sense for all involved.  It sucks for people to get excited about a home they may not be able to afford.

Yes, I have done so but it depends - I won't show them a lot but I will show a few and then send them on their way to get the approval

Usually I do this for out of area customers and I have a good feeling about them - doesn't always pan out but does sometimes

It depends.

As Debbie Laity answered that first meeting involves asking questions, listening, checking expectations and to decide if both parties want to work with each other.   

Sure... I usually know quite a bit about anyone I take out to look  at property so am usually not concerned. Have never had a situation where I took someone out to look and then they couldn't qualify.

Hannah Williams - I have done it with few buyers, knowing that they are referred to me and perhaps can buy much more expensive homes than what we are looking at.

 It depends if I know them or not are they are a referral from a close friend or past client ..

5 out of 6 people enjoy Russian Roulette!

NO!!! Never, No Way Jose!

Pre-approve, or (all cash) proof of funds or hit the road Jack!

There are some goof-ball agents that will say "yes" because they get away with it here & there, but a blind squirrel finds a nut ever once in a while too. 

I value my time too much to risk it.

If I knew them I would - otherwise no. 

Not more than once.

Not unless I am very confident that they have the funds!

If I were a Realtor, and IF I knew the buyer, I might, once.  But I would discourage spending time looking and encourage them to get pre-qualified as a first step.  It doesn't seem smart to shop without knowing whether I belong in Sears or Holt Renfrew (it's a very posh store in Toronto).

No, and neither will prequalifying, only a verifiable preapproval will get them to the door. It's a process and to progress you need to know what you can afford. 

Only one time 

My answer would be no, but some past clients that I KNOW can buy, I would show, but that is when they find a home quickly and not pre-approved.

Not if they give no effort in calling at least one of our trusted lenders and discussing their options.

I have, with friends who were thinking about moving.  It is not a general practice I do since if they find something they won't be ready to jump on it.

Nope. Unless they are cash buyers and have signed a buyer's agreement.

It all depends on circumstances and those only get someone past the first few showings without one.  Mark

I think if I was a realtor I would not there are always exceptions, the saying is time is money and I do not like to waste either!

I talk to them on the phone first, and may give one free ride depending on the conversation so we both can get to know each other better. Then we can decide whether we would like to continue working with each other or not.   

Yes I do.

Why? The papers needed to accompany a purchase offer are easily obtained.

#2. Buyers often find the price bracket they select does not contain the house they will buy, requiring a bump up in the search criteria.

#3. The 'compensation' conversation occurs when we finally put the seal of approval on the price and locations, which will include 'readiness' when 'the' house emerges. Readiness includes having the proof of financial ability.

Absolutely. NOT.  My time is too precious and valuable.  

Hannah Williams No, but I did it in the beginning.

I have often pre-qualified prospects myself. You need to ask the right questions and to know the requirements.

Yes, I have done that occasionally, but I prefer to get them pre-qualified first.

no.

Hannah Williams No, I want to know what my clients are qualified for when making a purchase.

Sometimes yes, but prefer pre-qualified buyers!

I have done so on the first visit only and if it is close by. 

Yes, one time. Then, if they stall on it, I question their intentions!

Sometimes you can do a limited prequaification yourself to determine if they are someone who should be buying or if the are merely dreamers.

But until you have a number that they can afford your time is likely to be wasted.

Yes, I will one time.  Then they call my banker or theirs and have the banker call me.  WE don't go out until they are then pre-qualed.

Gives me a chanc to form them the way I would like them to be.

It depends on the situation and if they fall into my situations covered by my business rules.