By Simon Royer, REALTOR® at RE/MAX Icon Realty
A family member recently chose not to work with me because they were worried I would find out about their finances.
It was not the first time. A family friend did the same thing a few years back. Both times I found out later. Both times I was a little hurt. And both times I completely understood.
Money is personal. The idea that someone you know, someone who might mention it at Christmas dinner, could have a window into your financial situation is uncomfortable. I get it.
But here is the thing. That window barely exists.
Let me tell you what I actually see when I work with a buyer or seller. Because I think you might be surprised.
What does a REALTOR® actually see about your finances?
Not much. Genuinely.
Here is the complete list of financial information I am exposed to when working with a buyer:
The purchase price. That is the number on the offer. And here is the thing, that information is public record. Anyone can look up what a home sold for on HouseSigma, Geowarehouse, or a dozen other websites. Your neighbour can find it. Your coworker can find it. I am not seeing anything that is not already out there.
The deposit amount. When you make an offer on a home, you put down a deposit. I need to know that number to write the offer. That is it.
The bank account number the deposit came from. This one surprises people. As part of my FINTRAC obligations, that is the federal anti-money laundering reporting requirement for real estate transactions, I collect identification and record where the deposit funds are coming from. That means I may see the account number.
Not the balance. Not the transaction history. Not what else is in that account. Just the number.
That is genuinely it. I do not see your credit score. I do not see your income. I do not see your debt load. I do not see your savings. I do not see what you owe on your car or your student loan or your credit cards. None of it.
Your mortgage broker sees a lot more than I do. Your lawyer sees more too. I am honestly the least financially informed person in the transaction.
What about when you are selling?
Even less.
When you list your home I need to know basic property details. I will pull tax records which show your assessed value and your annual taxes. Both of those are public information.
I do not see your mortgage balance. I do not know how much equity you have unless you tell me. I do not know if you are behind on payments or if you refinanced three times. None of that comes across my desk unless you choose to share it.
Here is the part I want you to really hear
Even if I did see more, I would not care.
I mean that. I am not sitting here in some position of financial superiority looking down at clients who are stretching to make a purchase work or selling because life got complicated.
You want to know my financial reality? I am a commission-based agent in my fifth year of business. In the eyes of most banks I barely make any money because commission income does not look clean on paper. I do Uber Eats to fill the gaps. I know what it feels like to look at your account and do the math on whether things are going to work out this month.
I am the last person who is going to judge you for your financial situation. I have been humbled by mine enough times to know that money stuff is complicated for almost everyone.
What I actually need from you to do my job
Nothing sensitive. Really.
If you are buying I need to know your budget and whether you have a mortgage pre-approval. That is it to get started. The pre-approval comes from your mortgage broker or bank. I do not see the details of it. You just tell me the number you are approved for and we go find you a home.
If you are selling I need the address, some basic info about the property, and your timeline. That is the whole intake conversation.
Everything else, the debt, the credit score, the bank balance, the messy financial backstory that got you to this point, that is your business. Not mine.
The real reason people avoid calling their agent
I think the fear is less about what agents can actually see and more about judgment.
Nobody wants to feel embarrassed. Nobody wants to tell someone they know that their budget is lower than expected, or that they need to sell because things got tight, or that they are starting over after a divorce or a job loss.
So I want to say this directly: I do not care about any of that. I care about helping you get where you need to go from wherever you are starting. That is the whole job.
Look, everyone has debts. Everyone has a financial situation that looks messier up close than it does from the outside. The people who seem like they have it all figured out financially are usually the ones carrying the most stress about money in private.
You are not alone in that and you will never be judged for it in my office.
If you have been avoiding reaching out because of this, let this be the nudge
I have lost people I care about to other agents or to no agent at all because they were uncomfortable about money. That is genuinely one of the saddest parts of this job for me.
If you have been thinking about buying or selling and the financial vulnerability piece has been holding you back, I want you to know the reality is much less exposing than you think. And even if it were not, you would still be safe with me.
Reach out. No judgment. No awkward money conversations unless you want to have them. Just help.
Frequently Asked Questions
Does my REALTOR® see my bank account? No. The only financial information a REALTOR® typically sees is the purchase price, the deposit amount, and for FINTRAC compliance purposes, the account number the deposit came from. They do not see your balance, your transaction history, or any other details about your account.
Does a real estate agent see my credit score? No. Your credit score is between you and your mortgage broker or lender. Your REALTOR® does not have access to it and does not need it to help you buy or sell a home.
What financial information does a REALTOR® need to help me buy a home? Essentially just your budget and confirmation that you have a mortgage pre-approval or are working toward one. The detailed financial information stays with your mortgage broker. Your REALTOR® just needs to know what price range to work in.
What does a REALTOR® see when I sell my home? Publicly available information like your assessed value and annual taxes. They do not see your mortgage balance, your equity position, or any other personal financial details unless you choose to share them.
What is FINTRAC and why does my REALTOR® ask for my ID? FINTRAC is Canada's financial intelligence agency. Real estate professionals are required by federal law to verify the identity of clients and record where deposit funds are coming from. This is an anti-money laundering requirement. It does not give your REALTOR® access to your personal financial information beyond the account number the deposit came from.
I am embarrassed about my financial situation. Should I still contact a REALTOR®? Absolutely. A good REALTOR® has seen every kind of financial situation and is not there to judge you. They are there to help you get from where you are to where you want to be. The conversation is confidential and the goal is simply to figure out what is possible for your specific situation.
Simon's Final Word
I lost a chance to help someone I care about because they were worried about what I might see. That still stings a little.
If you are in that position, I hope this helps. The financial picture I have access to is much smaller than you think. And the judgment you are worried about? It is not coming from me.
Call me. Text me. We will figure it out.
Simon Royer, REALTOR® at RE/MAX Icon Realty 226-218-6875 | simonsayzsold.ca First time buyer guide | Free home evaluation | Book a call
This blog post reflects the personal opinions and professional experience of Simon Royer, REALTOR® at RE/MAX Icon Realty. Not intended to solicit buyers or sellers currently under contract. RE/MAX Icon Realty Brokerage, 33-620 Davenport Rd, Waterloo ON N2V 2C2
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