Surrey Police said three men forced their way into one property in Milford, and two people went inside in the second incident.
In both cases, cash and jewellery were stolen, a spokesman said.
A man claiming to be from police and offering to carry out security checks has also been calling at people's homes in the area, police said.
Surrey Police does offer free security checks on request, but officers never cold-call, the spokesman added.
Appealing for information, he said the two homes in Milford were targeted on Thursday evening.
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