I have excellent credit, but I'm not sharing my credit report with potential clients. Sorry, I'm just not.

Recently on Trulia Voices, a Realtor responded to a question about hiring an agent, with some of the following advice.

"Ask for a copy of the Realtors® credit report.  This may sound bold but you would be surprised how many are below 600, and then ask yourself do you really want to accept consul on one of the biggest decisions of your life from someone who can’t manage their own financial future? (note: this is not common practice and may offend many, but you are about to spend hundreds of thousands of dollars, do your homework gather information)"

Ask for a copy of the Realtors® credit report before you hire them!?

I gotta tell you, I think he has us confused with a Financial Consultant.  This is indeed a bold move, to request my credit report.

On the surface, his argument sounds logical... but I have to tell you... My credit score is excellent, but I would not give a potential buyer a copy of my credit report, if asked.  I might share my credit "score" with them (although I'd have to give that some serious consideration), but I'm not giving out a copy of my credit report.  Did you ask for your accountant's credit report?  Or your stock market investor's credit report, or a copy of his portfolio?

While the logic behind his request sounds reasonable.. keep in mind that they're not hiring an agent to help with their financial future.  We are not financial consultants, we do not help manage wealth. They are simply hiring an agent to help you navigate the landmines surrounding the purchase of a home.  You don't have to have an 800 credit score to be able to do that brilliantly.

In fact I know several agents, who've had a really tough few years, whose credit scores might not have survived unscathed, who are truly excellent Realtors and know their stuff.  Their current credit scores have more to do with children in college, and the temperamental real estate market, than with their knowledge and expertise.

So, "ask for a copy of my credit report?"  I don't think so.

- 4

ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com
Evanston Real Estate & North Shore Real Estate • Licensed in Illinois

    

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