Agent/realtor vetting buying clients

[Anonymous]

Anonymous wrote:Why don’t you just ask them?

“Can you help me understand why I need to provide this information? What questions/concerns are you trying to address with this information?”

That's what I would do. All I need to say is that I'm a cash buyer, and that's all they want to hear. Any other prying is bizarre.

[Anonymous]

Anonymous wrote:

Anonymous wrote:2347, letter is from a well known brokerage firm. Firm's consultant is pretty much hands off meaning I manage the funds within the account. That's pretty typical these days.

Other that that I am not clear as to what kind of vetting the realtor may be trying to do. So far, however, they have asked some fairly invasive questions, and I note this agent is female.

In the past I've worked with other agents, both genders, who do not ask details re finances. Male agents look the broker's letter and are satisfied...so unclear as to what female agent is after.

Women do tend to be more detail oriented. It sounds like she is a better agent than the male doofuses.

This is sexist. What does gender have to do with this?

[Anonymous]

Op back. Gender has nothing to do with prying...but just wondering why two out of two female realtors have asked for details vs a series of male realtors have not. This is over a multi-year period and in various markets as I move around. Regardless, I should have gently inquired as to the need to know. Oops

[Anonymous]

What do you look like? Do you look broke?

[Anonymous]

Anonymous wrote:A good agent will actually ask to speak with lenders and financial advisors/brokers. They want to know your funds are liquid, that the individual themselves is a real person, how long it may take to gather funds or cash in anything, etc. I know people are sensitive about sharing financials, but the agents should be doing this kind of due diligence to protect their clients and ensure they are dealing with bona fide funds and individuals.

What world do you live in? I’m 62 years old and have bought and sold many houses in many jurisdictions both in the USA and abroad and I’ve never been asked for any of that information ever. When I buy in cash I just provide a form letter from my brokerage account that says what my balance is. That’s it.

[Anonymous]

Same as others, have had to show sufficient assets when making a specific offer, but never in general.

[Anonymous]

Anonymous wrote:What do you look like? Do you look broke?

I am out of state of this agent so she hasn't yet met me. The house in question is new construction but the listing for it is old - well over a year ago. Sensing something is not right about the completed house given overall the lack of inventory.

[Anonymous]

Anonymous wrote:Op back. Gender has nothing to do with prying...but just wondering why two out of two female realtors have asked for details vs a series of male realtors have not. This is over a multi-year period and in various markets as I move around. Regardless, I should have gently inquired as to the need to know. Oops

You claim gender has nothing to do with it, yet you keep bringing up gender. Their gender is immaterial, as is their race. Stop being sexist.

[Anonymous]

Anonymous wrote:They want to know you have enough money to buy the kind of house that you want to buy. If you don't like the questions, move on to the next agent. There are thousands.

Our sellside agent asked this before allowing a buyside appointment.
We all saw NO reason to vacate the house for an appointment for someone not financially qualified to buy at or around list price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why don’t you just ask them?

“Can you help me understand why I need to provide this information? What questions/concerns are you trying to address with this information?”

That's what I would do. All I need to say is that I'm a cash buyer, and that's all they want to hear. Any other prying is bizarre.

We have on ring cam families talking to their broker on the way out of their appt: “that’s too bad it’s a $1.5M home, we can only afford $1.0M.”

Total waste of everyone’s time.

[Anonymous]

Anonymous wrote: What is meant by a real estate agent or realtor vetting potential buying clients? I have a letter from my broker re the amount I intend to pay in cash and settlement fees. What else might she or he want to know?

Depends on price range. If you want to buy one of my $2,000,000 listings. Come on in. If you want to buy one of my $5,000,000 listings, all the agents working at that level in my market know each other. We will provide the proper assurances that our clients are legit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op back. Gender has nothing to do with prying...but just wondering why two out of two female realtors have asked for details vs a series of male realtors have not. This is over a multi-year period and in various markets as I move around. Regardless, I should have gently inquired as to the need to know. Oops

You claim gender has nothing to do with it, yet you keep bringing up gender. Their gender is immaterial, as is their race. Stop being sexist.

FWIW, I am female.