Richard Robibero, e-Pro, ABR, SRS, Selling Your Home as if it were My Own! (Panorama R.E. Limited)

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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

My clients appreciate that what's good for one is good for all!  If they think they deserve special treatment, they're not that special after all

Apr 11, 2016 12:13 AM
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Roy Kelley
Retired - Gaithersburg, MD

Yes. Treat every client the same.

Apr 10, 2016 10:17 PM
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

all offers will be accompany with a pre qualification letter from a lender of proof of funds, no exeptions. 

Apr 10, 2016 11:54 PM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes and absolutely. Why? They hide money, are creative and not liquid. Furthermore, they may liens, lawsuits and wage attachments. Pre-approve!

Apr 10, 2016 11:48 PM
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Always, if i am representing the seller, they would want me to do my job no matter who the buyer

Apr 10, 2016 10:25 PM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

If you ask for a pre-approval from one buyer and not another would that not be a violation of fair housing laws?  You are providing different levels of service.

Apr 10, 2016 10:06 PM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Yes, I do. Income is one thing. Credit viability is another and those two don't necessarily go hand in hand.

Apr 11, 2016 09:55 PM
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

We sure do; I don't care who the person is making the offer. Too many celebrities have gone 'belly-up'

Apr 11, 2016 07:18 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I haven't had the opportunity, yet.

Apr 11, 2016 04:10 AM
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Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Years ago I had a professional athlete who made $2.2 Million a year...the wife was an accountant, so I did not ask the hard questions.

He only wanted to buy a home for less than $1M...and could not qualify.

Aside from crappy credit, he owned 5 other homes and had 6 cars.

I learned a lesson.

Eve

Apr 11, 2016 03:50 AM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richard,

We always verbally pre-qualified.  The financials in leasing to major execs were only revealed to the landlords after an offer was accepted.  This was done through their banks, accountants and attorneys.  We deal with letters of credit and other financial instruments that were appropriate.  

We had a group of developers we worked with who paid all cash in 30 days, and we never asked them for a pre-approval or proof of funds.  It would have really offended them.  One of our clients works in one of the wealthiest communities in the world, she does not ask, she knows.  It really depends in my opinion.  A

Apr 11, 2016 01:17 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Why not?  No exceptions.  Income is not a measure of the amount of debt. 

Apr 11, 2016 12:51 AM
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Scott Lawson
America's Home loans - Santa Rosa, Petaluma Mortgage Broker - Santa Rosa, CA
Mortgage Broker FHA, VA, refinance or purchase

Escpecially for a public figure....

 

My worst lending experiences have been with celebrty types. They often have sources of income that have been closed by a judge to the public (spousal, child support etc. which kills the deal whether they are receiving it or paying it) and make it impossible to verify contiuance...

Apr 11, 2016 12:46 AM
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Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

I don't ask for a prequal letter. I just ask for their bankers info.

Why work with a millionaire when you can work with someone who handles dozens of them. You will still need a letter for the seller, there could be multiple people with the same name as your client.

Apr 11, 2016 12:31 AM
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

These folks have funding options not available to the 97%.

I inquire how they have sold real estate in the past.

Without exception they report they want buyers who have been vetted.

I suggest ways to cloak identify, if needed, and get the docs needed.

Apr 10, 2016 11:39 PM
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Richard Robibero, ABR, SRS Yes, I would. Why should they be treated any differently?

Apr 10, 2016 11:08 PM
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Always. Period.

Apr 10, 2016 10:27 PM
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Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Always!

Apr 10, 2016 10:24 PM
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Why not?  

Apr 10, 2016 10:13 PM
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Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Just ask for a pre-approval which is standard protocol. Get financing in position first should be your reply.

Apr 10, 2016 10:10 PM
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Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

Yes I do. Everyone gets treated the same. 

Apr 17, 2016 05:21 AM
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Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Professional athletes are notoriously bad with money. I wouldn't make an exception for anyone when it comes to providing proof of financial capacity.

Apr 11, 2016 07:49 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Richard Robibero, ABR, SRS never worked with public figure as yet. However, they all need to have the pre-approval soon once we start working together.

Apr 11, 2016 02:48 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I did get a state lawmaker who wanted to rent for me once, she had to fill out an application just like anyone else.

Apr 11, 2016 01:19 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Yes I treat them the same and they actually could be heavier in debt and not qualify.

Apr 11, 2016 12:09 PM
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

I think a preapproval should be obtained in this case --- there are plenty of people that make plenty of money and have either crap for credit, or spend 10X what they make.  

If they're relying on financing, they need to be preapproved.

Apr 11, 2016 09:58 AM
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Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I would ask them how they intend to pay and if they are paying in cash I tell them our office requires verification of funds.

Apr 11, 2016 05:59 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Just because a sports star gets "5 million/yr" doesn't mean they don't blow it all on cars, parties and women.  I know of some Football players who make several mill/yr and live off of $65k to invest the rest.  Others make 5 times that and don't have a penny to their name.  Look at Kanye West begging for money from his fans 'cuz he broke.

 

Yeah, I don't care if you're Jesus Christ, God, Allah, Buddah, The Flying Spaghetti Monster, or "The Dude" I'm still asking for proof of funds.

Apr 11, 2016 05:43 AM
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I still would

 

Apr 11, 2016 04:52 AM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

No doubt:) In my experience, all entertainment related figures have credit issues, at the same time, most of them have LLC, trusts, and other sort of entities they want to use. 

Apr 11, 2016 04:40 AM
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Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Yes, graciously.

Apr 11, 2016 04:26 AM
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I have done it both ways in the past.  But hig income doesn't necessarily translate into being qualified to purchase a particular property.  And most DC celebrities are politicians, and with those I do request a pre-approval letter or other documentation.

Apr 11, 2016 03:36 AM
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Allie Angeloni
Long Realty - Oro Valley, AZ

My thought would be 'yes', because they may have name recognition but they may not actually have funds due to debts.  I would think of this as part of my job as a professional and would not think it was offensive.  Who knows what their finances are in reality, as I would not be basing my process on their reputation, since anyone can have issues.  Just a thought from a newbie Richard Robibero, ABR, SRS - I will check other's comments!

Apr 11, 2016 02:17 AM
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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

We've had clients that were surgeons, CEOs, and independently wealthy business owners paying cash for $500,000 homes.  (That's high end in our area)  We've always gently asked if it's a cash purchase or can we recommend a fantastic mortgage banker for them.  

 

Apr 11, 2016 01:36 AM
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Becca Rasmussen
HomeSmart Cherry Creek - Highlands Ranch, CO

Yes. Salary does not equate to an ability to purchase.

Apr 11, 2016 12:04 AM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

It may depend on how rich and famous the seller or landlord is ;) and what THEY ask for . . .
but as a rule, big guys have offices and CFOs to easily provide info if needed.

Apr 10, 2016 11:54 PM
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Susan Laxson CRS
Premiere Plus Realty - Naples, FL
Realtor in Naples & Marco Island, FL

Yes, personal information is more reliable than the public information.

Apr 10, 2016 11:27 PM
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Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

I would not necessary ask them for a pre-approval letter before spending time with them or showing them homes, but I would let them know we are going to need one to submit with their offer.

Apr 10, 2016 11:04 PM
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Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

I would want it as look at how many have lost their fortunes!

Apr 10, 2016 10:02 PM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Yes, we do not know their spending habits.

Apr 12, 2016 10:16 AM
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Leanne Carpenter
RE/MAX Realty Professionals - Mobile, AL

Yes because just because their a public figure does not mean that the media isnt lying or that they can even be qualified to get a home. pre-approval letters always save you in the long run from doing a lot of hard work for nothing.

Apr 12, 2016 12:21 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

My only experience was an athlete that just signed a huge contract! Income verification was not an issue! Yearly income exceeded the purchase price!

Apr 11, 2016 10:47 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Yes I ask, but not in an offensive way.  Of course I also am gentle with that request from any buyer and explain the whys of having it ready to go.

Apr 11, 2016 01:29 PM
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Making lots of money isn't the same thing as having lots of money. 

I would want to know whether it was a cash purchase or a mortgage purchase, and would let them know the seller would need proof of funds/mortgage pre-approval when making an offer. 

 

 

Apr 11, 2016 03:32 AM
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Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Nope. But there are ways I can look up stuff on them and I do. However, when we make an offer, I need "proof of funds" to go with it. It's usually a cash deal. If it were with a loan then, yes, I would need a pre-qual.

Apr 11, 2016 02:56 AM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Not when showing.  But when presenting an offer, I will attach a POF letter.

Apr 10, 2016 11:41 PM