What is the difference between being prequalified and being preapproved? Why should we as real estate agents be concerned with the difference and how can we help our clients ensure that they are preapproved? This course will help you answer these questions so that you can ensure a smooth transaction for you and your clients.

Topics Covered

• The pieces of information a lender needs to collect in order to issue a preapproval
• How to determine if the “Preapproval Letter” is truly a preapproval or if it's a prequalification
• Steps to take to ensure that your clients' lender has done their homework

Course Duration

• 5 minutes

About The Instructor

Michael "Smit" Smith has been working in the residential real estate industry for over 20 years. Smit's trifecta expertise combines his experience as a real estate broker, owner and mortgage lender and his degrees in economics, political science, and law bring a well-rounded approach to his teaching. Smit has taught NAR credential courses throughout the Pacific Northwest. His passion for real estate, finance and teaching has led him to create and launch several custom courses as well, addressing current trends such as Survival Skills in a Changing Market, What you should Know about STR's and Real Estate Finance for Realtors. Smit's classroom is an energetic experience as he drives towards a high level of participation by students.