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#170710 - 09/21/07 12:48 AM do brokers run a credit check for agents they hire?
yoyo Offline
Junior Member

Registered: 09/20/07
Posts: 3
Loc: ca
just wondering. they ask for a social security card so is it common for them to check?

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#170948 - 09/21/07 11:49 PM Re: do brokers run a credit check for agents they hire? [Re: yoyo]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
Brokers need social security number information to report income (usually on a 1099) at the end of the year. Normally rather than just taking a number off your card they would ask you to sign a W-9 stating what it is.

I don't see brokers running a credit check on sponsored agents.

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#170953 - 09/22/07 12:31 AM Re: do brokers run a credit check for agents they hire? [Re: yoyo]
ericka Offline
Member

Registered: 06/01/06
Posts: 310
Loc: california
 Originally Posted By: yoyo
just wondering. they ask for a social security card so is it common for them to check?


You would know, because the credit check must be authorized in writing by the "checkee", before the check is performed.

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#170994 - 09/22/07 07:59 AM Re: do brokers run a credit check for agents they hire? [Re: ericka]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
ericka: The only time authorization is required is if the person has instructed the credit reporting agencies to block providing that information.

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#171559 - 09/24/07 04:29 PM Re: do brokers run a credit check for agents they hire? [Re: Mr. Foreclosure]
Renea Offline
Member

Registered: 07/28/07
Posts: 28
Loc: Bloomington, IN
Mine did and does run a credit check.

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#172412 - 09/28/07 05:09 AM Re: do brokers run a credit check for agents they hire? [Re: Renea]
Focus Offline
Member

Registered: 03/05/07
Posts: 147
Loc: USA
Renea, did they notify you that they were running one?


Edited by Facil (09/28/07 05:10 AM)

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#172683 - 09/29/07 11:06 AM Re: do brokers run a credit check for agents they hire? [Re: Focus]
Renea Offline
Member

Registered: 07/28/07
Posts: 28
Loc: Bloomington, IN
Yes. Actually I had to sign something giving them permission to do so. I didn't really care as my credit is great.

I know that I'm not an employee, but it's becoming more and more common for employers to run credit checks on potential employees.

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#172755 - 09/29/07 06:32 PM Re: do brokers run a credit check for agents they hire? [Re: Renea]
VacationGuy Offline
Member

Registered: 08/23/07
Posts: 389
Loc: SC, US
i know to get my RE liscense they ran a credit report

but I don't remember my broker current or previous broker doing one?

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