Real Estate

Realtor asking some weird questions?

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  • Jan 29th, 2019 3:14 pm
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Deal Addict
Sep 24, 2018
2366 posts
1245 upvotes

Realtor asking some weird questions?

Looking at buying a house and the realtor us asking where we work, titles etc?

I understand the finance folks asking but the realtor?
23 replies
Member
Oct 22, 2017
223 posts
305 upvotes
It's perfectly normal. They need to do their due diligence and make sure you can actually afford to buy, so it doesn't waste their time.

For example they don't want to show you a bunch of 1M+ homes and find out you're working an entry level job making 40k etc.
Deal Expert
Feb 29, 2008
21738 posts
21353 upvotes
Tarrana & The Ri…
Completely normal so you don't waste each others time.
Deal Expert
User avatar
Oct 26, 2003
39338 posts
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Winnipeg
wa88gta wrote: It's perfectly normal. They need to do their due diligence and make sure you can actually afford to buy, so it doesn't waste their time.

For example they don't want to show you a bunch of 1M+ homes and find out you're working an entry level job making 40k etc.
students and homemaker with no income apparently owns multi-million dollar houses just fine in Vancouver?
Deal Addict
Sep 24, 2018
2366 posts
1245 upvotes
Weird, personally dont want people knowing my business unless they have to :P
Member
Oct 22, 2017
223 posts
305 upvotes
divx wrote: students and homemaker with no income apparently owns multi-million dollar houses just fine in Vancouver?
That's a whole other issue lol
Member
Oct 22, 2017
223 posts
305 upvotes
Techiedude wrote: Weird, personally dont want people knowing my business unless they have to :P
Then you gotta decide if you want to enter into a business relationship with this realtor. If you do, then you'll have to discuss personal info at some point
Deal Addict
Sep 24, 2018
2366 posts
1245 upvotes
No its not that, its buying a house, I've purchased properties over the years and have never been asked such questions, where I work? Im not their friend and I dont want to get to know them and where I work....i dont want strangers knowing where i work, FIs etc and those that need to know thats fine, otherwise, my name heres my id and signature, f off and dont bother me anymore is my opinion
Deal Addict
Apr 14, 2017
1967 posts
621 upvotes
DT Calgary
divx wrote: students and homemaker with no income apparently owns multi-million dollar houses just fine in Vancouver?
The good old days when CIBC was advertising that your income is irrelevant lol.

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Last edited by FreshCo on Jan 27th, 2019 11:43 pm, edited 1 time in total.
Deal Addict
Sep 24, 2018
2366 posts
1245 upvotes
FreshCo wrote: The good old days when CIBC was advertising that you're income is irrelevant lol.

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lol no i have legit job and work, point was i thought privacy was a thing still....its not like i want to get calls from this person in the future, its a one and done scenario
Member
User avatar
Jan 7, 2019
368 posts
376 upvotes
Techiedude wrote: No its not that, its buying a house, I've purchased properties over the years and have never been asked such questions, where I work? Im not their friend and I dont want to get to know them and where I work....i dont want strangers knowing where i work, FIs etc and those that need to know thats fine, otherwise, my name heres my id and signature, f off and dont bother me anymore is my opinion
If you feel that this realtor is invading your privacy, find another one and move on.

Last time I checked, there were tons of realtors out there starving for some business.

However, if i was a competent realtor with clients in the pipeline, I would want to know you better so I wouldnt be wasting my time and also to provide you recommendation on potential neighbourhoods that fit your status.
Remember to always Thumbs Up good responses! Spread positively.
Deal Addict
Sep 24, 2018
2366 posts
1245 upvotes
BrokeMillennial wrote: If you feel that this realtor is invading your privacy, find another one and move on.

Last time I checked, there were tons of realtors out there starving for some business.

However, if i was a competent realtor with clients in the pipeline, I would want to know you better so I wouldnt be wasting my time and also to provide you recommendation on potential neighbourhoods that fit your status.
No we picked a house, were dead on it, not asking for anything else.....just wanted to make an offer and call it a day.
Deal Addict
Nov 13, 2013
4520 posts
3685 upvotes
Ottawa
I would think it is not only about whether you can afford it but also helps them get a picture of your overall situation in case you are inclined to ask for advice. How likely are you to be promoted? Move somewhere else in the city or further afield etc. It might also just have been small talk. I am not sure why you think such information is so confidential you wouldn't tell someone helping you make one of the biggest purchases of your life. If you look young and dress down yes maybe they are sizing you up but still don't know why this would bother you that much. There are a lot of people who waste Realtor's time though personally I think they should be happy to do this as long as there is a chance of a payday given how out of whack the commission is with the actual hours they need to put in with a buyer.
Deal Expert
Feb 29, 2008
21738 posts
21353 upvotes
Tarrana & The Ri…
FreshCo wrote: The good old days when CIBC was advertising that your income is irrelevant lol.

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And instead they want to punish us. The good ole days man....people were falling out of the sky with mortgages.
Deal Fanatic
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Dec 10, 2008
5211 posts
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Techiedude wrote: No we picked a house, were dead on it, not asking for anything else.....just wanted to make an offer and call it a day.
The agent doesn't GAF about what you do. He's making small talk to build rapport. If you don't like that, then make an offer directly through the listing agent. Or get a pre-approval letter from the bank.
Let's hug it out
Deal Guru
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Feb 2, 2014
11231 posts
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Toronto
FreshCo wrote: The good old days when CIBC was advertising that your income is irrelevant lol.

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Good ol days? That program still exists.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Fanatic
Jan 15, 2017
5749 posts
6121 upvotes
Ottawa
Techiedude wrote: Looking at buying a house and the realtor us asking where we work, titles etc?

I understand the finance folks asking but the realtor?
Realtors are required by law now to verify the identity of their customers, and this includes their occupation. You can check out FINTRAC for more information, or can read this brochure put out by the CREA: http://www.bcrea.bc.ca/docs/default-doc ... ochure.pdf

Your Realtor should have explained this to you prior to requesting the information.
Deal Guru
User avatar
Feb 2, 2014
11231 posts
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Toronto
Techiedude wrote: No we picked a house, were dead on it, not asking for anything else.....just wanted to make an offer and call it a day.
We (real estate salespersons) have to complete a FINTRAC ID form on our clients and customers. The form asks us to identify your job unfortunately, so we have to ask.

However, we don't need to dig too deep. I would simply tell the agent high-level information on your job (ie I've been a Financial Analyst for about 10 years) and show them your mortgage pre-approval.

Hope that helps.
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Addict
Sep 24, 2018
2366 posts
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Understood, now I get it, I was thinking it was "Lets see who else at their company we can call and ask who might want to buy a house" type of thing.
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Nov 1, 2001
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FreshCo wrote: The good old days when CIBC was advertising that your income is irrelevant lol.

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