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The "Wealthy" Don't Need Pre-Approval Status.
Several years back one of the agents on my (then) team had a high end home for lease. The property was valued at over 2 million dollars. A few days after we listed it an agent submitted an application for her client, but left all the personal information blank and just wrote "HOUSTON ASTRO."
Wow, cool! A proffessional baseball player want's to lease one of our listings we thought. Terrific, now fill out the application. Period. All of it. Including your social, income, and proof of employment. In this situation this "Houston Astro" was not a house hold name like Barry Bonds, but he was in fact a "starter." To be honest, I had no idea who he was because I didn't follow the Astros. In fact, he was transferring here and was not a long-term pro or even someone that you'd see all over the news.
Regardless, his credit report was going to be a determining factor. If he had bad credit and a history of "breaking leases" we wanted to know about. The agent argued that his status should exempt him from providing his social. Hogwash. What if he ruined the place? What if he had parties and trashed the bedrooms? ... more

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