I am closing on my first condo this week. I am wondering if it's customary to give my realtor (who has been working with me for months to find a place) and/or my mortgage broker (who pushed the loan through very quickly for me) a gift of some kind as a thank you after the deal is done.
2006-12-20 09:51:31 · 13 answers · asked by rinkrat 4 in Business & Finance ➔ Renting & Real Estate
Do you have ANY idea how much money both the realtor and morgage broker got? It is actually customary for them to give you a token gift, not the other way around.
2006-12-20 10:14:53 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Gifts For Realtor
2016-11-17 01:07:05 · answer #2 · answered by boddison 4 · 0⤊ 0⤋
Actually your Realtor and Mortgage Broker should give you a house warming gift for the business. Afterall, they both probably made somewhere near 3% of the purchase price on your home
2006-12-20 10:24:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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Now if they are just unlicensed salespeople, they can do it. I doubt if they work for a builder or just a sales office that they are licensed Realtors. The Realtor code of ethics does not allow steering. Unlicensed salespeople can do whatever they want, and they usually win. You should have a real, licensed Realtor to represent you on the buyer's side, if they arent licensed, they can lie to you like a car salesman and you could lose thousands. A good Realtor can negotiate these things for you.
2016-04-04 01:26:17 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Actually, in some places it is illegal for you to compensate your loan officer or Realtor directly. I know in Ohio, you would have to give the tip/gift to the broker (who would hopefully give it to the agent). It's a really nice gesture, though.
How about writing a letter of recommendation for these folks instead?
2006-12-20 10:01:50 · answer #5 · answered by ramman 4 · 0⤊ 0⤋
The best gift you could give your Realtor or mortgage broker is a referral to someone else who could use their services. Most of them depend on referrals to build their business. Another great gift is a testimonial that they could use to show other potential clients. These gifts are usually much more appreciated and are perfectly legal.
2006-12-20 13:54:34 · answer #6 · answered by smilin1 2 · 1⤊ 0⤋
It is not necessary to give your realtor or mortgage broker a gift for doing their job (after all, they are being compensated for it through their commissions), but that shouldn't stop you if you feel so inclined to recognize them for the extra effort you think they put in for you as their client.
I am sure that anything, even something as simple as a thank you note, would be appreciated. Everyone enjoys receiving recognition for the effort they put in.
2006-12-20 09:54:20 · answer #7 · answered by jseah114 6 · 0⤊ 0⤋
I don't see why not we sent both our mortgage broker and our realtor gift baskets of fruits and nuts....Saying thank you is often enough but showing it leaves more of an impression and makes you feel good inside.Besides its your celebration and w/o them you wouldn't have anything to celebrate.So go for it:)
And Congrats on your first condo I hope you enjoy it:)
M.G
2006-12-20 09:56:57 · answer #8 · answered by Malia G 4 · 0⤊ 0⤋
It works the other way around. They will give you gifts for your business. Some places do not let agents accept giftas from clients. The best thing you can do is send a nice note or letter of Recommendation. Referrals are the best. We live by referral business.
2006-12-21 03:45:38 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Hi rinkrat, I used to be one myself. Best tip is to send more business their way & by all means a Christmas card, but don't forget the Christ in Christmas.
Remember they get their ($$$) via your custom and just maybe
they should be thinking your way. If they didn't do it for you, there is a lot of fair competion out their who would have.
May God bless you for your generous thoughts.
2006-12-20 10:36:14 · answer #10 · answered by s n 1 · 0⤊ 0⤋