Home Buying in 91739>Question Details

ojedaa, Home Buyer in 91762

How do I report a real estate agent?

Asked by ojedaa, 91762 Tue Dec 4, 2012

We have opened escrow on a short sale, and have had the appraisal done, and we were present this weekend for a home inspection. Today, my husband got a call from our lender telling him that the sellers real estate agent had called, saying that he did not believe that we could afford to buy the home and that he wanted our lender to submit our information to another lender (his lender). Our lender said that in his many years of practice he has never had a request like this one. Our lender says we are fine our credit is excellent and if we wanted we could buy the home cash. We are outraged to say the least! I believe this is most unprofessional and unethical. I am beginning to wonder if the sellers real estate agent has even submitted our offer to the bank.

Help the community by answering this question:


Probably the seller's agent is trying to make sure that you really qualify for a mortgage loan for these property. If you do not want to get your information to another lender, just tell him that you want to remain with the same lender. He will respect yopur decision and will be the end of this situation.

Best of Luck,

Maria Cipollone

Century 21 Tenace

2 votes Thank Flag Link Tue Dec 4, 2012
What I don't understand is why an agent is answering this question so late! It seem a certain real estate company has discovered that because their only advertising seems to be craigslist, they have to expand. Now it seems they will spam trulia so they can get rankings. Give me a break.
1 vote Thank Flag Link Tue Feb 12, 2013
#1 problem is that someone allowed you to pay for a home inspection and appraisal PRIOR to obtaining written approval of the short sale....this is a no-no.

Some of us represent sellers and we would not be doing our job unless we vetted the buyers ability to close. A letter from the buyers lender is never enough. Although you sound quite solid,there are documents needed to ensure you can actually obtain your loan based on UW guidelines.

I dont know of anyone accepting kick backs nowadays....there are heavy penalties for doing such. However, the listing agent may have a preferred lender that he/she works with and believes in. They may be attempting to direct you to use this persons service, but you should never do so unless you feel you will benefit from this lenders services and programs.

The last thing a listing agent wants for their seller is to have a buyer cancel at the last minute because an issue is found with the buyers loan.

Again, it seems you are ok for now,but lets hope that they actually get the approval to short sale.

Jory Blake
Web Reference: http://www.JORYBLAKE.com
1 vote Thank Flag Link Tue Dec 4, 2012
To whom do you want to report the real estate agent?

I would really start with the agent's broker...that can easily be determined by calling the agent's office and asking to speak with the broker.

If that doesn't get you what you are looking for, you can go to the local realtor association in your community.

Lastly, you can report the agent to the California Department of Real Estate in Sacramento., If you do this, please have real facts ready report rather than suspicions.

As far as your deal goes, if the seller accepted your offer in writing, the agent has no right to come at you after the fact. Your agent should just tell him or her that the deal is signed and leave it at that.

Good luck.
1 vote Thank Flag Link Tue Dec 4, 2012
Thank you for your reply. Yes, we have signed papers and I do not have suspicions, I have emails between the sellers real estate agent and ours.
After I posted my question, I did more research and got the name of whom to report this agent. Thank you for sending it as well, and thank you for the well wishes.
Flag Tue Dec 4, 2012
It does sound a bit strange that they would ask for this so late in the game. However, if you really want the home, I would have your lender just call the other lender so they feel comfortable. It happens more than you know that the agent wants to make sure you are able to purchase a home. You would be surprised how many buyers have some type of problem closing a home. I think he is looking out for the seller as well as making sure the home gets sold.

If you have nothing to hide, then let the lenders talk is my advice to you. If you are upfront, then they won't think there is a problem at all. I am always as transparent as I can be so things get handled properly.

Also, if you could buy the home cash, you could always show them bank statements (with your account blanked out as well.) You want the selling side to feel comfortable with your offer.


Joan Patterson, B.A, G.R.I., Realtor, License #01431647
Keller Williams Realty
0 votes Thank Flag Link Tue Feb 12, 2013
This is odd. If the seller wants (or wanted) you to be "Cross qualified with lender XXX, as a second opinion only, prior to opening escrow ..." that should have been addressed in a counter offer. You do not have to do anything except what is in the offer. If you need an ETA (Extention of Time Addendum) then address that. It all depends on house the offer/counter offers are written.

Charles Ritz - Broker & REALTOR
Serving So. Cal.
0 votes Thank Flag Link Sat Jan 26, 2013
It is becoming more and more common today for sellers and their agents to "cross-qualify" potential buyers. The seller and their agent want to make sure the buyer can close escrow. If your loan is taking longer than usual, that could be the reason why they are requesting you get cross-qualified. Short sale approvals are buyer specific. I hope you received a written short sale approval naming you as buyer before you spent all this money on inspections and appraisals. If you do then that is your proof your offer was submitted to the lender. Your agent should have received a copy of this prior to having you spend any money on this home. Don't be too worried about the cross qualification, you should be more worried about whether you have short sale approval or not.
0 votes Thank Flag Link Sat Jan 26, 2013
Simply go to the DRE (Department of Real Estate) website
0 votes Thank Flag Link Sat Jan 26, 2013
Ojedaa: As a lender, what I do in the situation is to talk to the other lender directly and ask them what would make the realtor feel comfortable.

That could be a copy of your loan approval from me or, perhaps, the Desktop Underwriting approval (with social security numbers blacked out).

Once that lender tells me what would make them comfortable, I would ask you, the borrower, if that is you authorized me to release to that information to them.

Communication between your agent and the seller's agent would be strongly advised, as well. The listing agent and the selling agent should be discussing this. Selling agent should be in the loop.

Whatever the case, my recommendation is before a report is made to the Department of RE, at the very least, go to lisitng the agent's broker/manager and get that person involved. It may be a situation where communication would best resolve the issue and no letters need to be written. No ill feelings during the transaction.
0 votes Thank Flag Link Thu Dec 6, 2012
I'm not sure where to add to this.

We have already sent this real estate agent 2 letters from our lender confirming our qualifications to by the home. What does it matter what he believes? Why should he have a say on what he can afford or not afford? According to our lender, our real estate agent, and the seller of the home, we are just waiting for approval from the bank for the short sale. Like I said, we have excellent credit and we can afford to buy the home cash. We are putting quite a bit more than the normal 20% down. Does he get some kind of kick back from the lender he wants us to use?
0 votes Thank Flag Link Tue Dec 4, 2012
Majority of sellers want documentation (letter) from a buyer's lender as indication they have indeed applied for financing and are moving forward to gain approval for a home loan. However, I would think twice about submitting a lot of sensative and personal data to an unauthorized third party no matter who they are. Hopefully, a simple letter from your lender will be acceptable to the seller.

I wouldn't be outraged or put off by this action. As Jory stated, confirmation (documentation) from a buyer's lender typically accompanies an offer. Can't say I've submitted an offer for a buyer client without a lender's confirmation. Good luck to you!
0 votes Thank Flag Link Tue Dec 4, 2012
I will respond differently than most......
The agent representing the seller wants to ensure that you will be able to obtain your loan and close as contracted. This of course should of been don up front, prior to entering into contract.
This is called cross-qualifying and is not uncommon at all.
At this point , I wouldnt freak out...rather, have your lender submit the cross qual package as requested, show you can obtain your loan and proceed to close...( They do have short sale approval,right???).
If they try and steer you to another lender, stay firm on your choice to work with your preferred lender.


Jory Blake
Web Reference: http://www.JORYBLAKE.com
0 votes Thank Flag Link Tue Dec 4, 2012
We are seeing this a lot:
We see LISTING that specify that the BUYER must apply to their Lender if we want to submit an Offer; they do have to necessarily use that Lender, but they want the opportunity to keep the Loan.
I can't blame them; this is probably good business.
If you call alienating the potential customer, "good business".
People are putting up with things that my generation would never stand for!

If you are already under CONTRACT, they cannot force you to do anything.
An alternative, would be to call that Agent's Broker, (or have your Agent do it,) and discuss this;
Dealing with a Bank is a lot different than dealing with an individual.
Submitting an application to that Bank is no-big-deal; you can choose your Lender later: In fact, it might be illuminating when you compare the GFE's.

Keep your eye on your ultimate goal; buying the house. Do what you have to.
0 votes Thank Flag Link Tue Dec 4, 2012
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