I’m buying my first apartment and the closing will take place in a few days. Do I get a gift for my real estate broker? I know that she is paid by the seller, but I don’t know what the etiquette is in this situation. If no gift, fine. If I’m supposed to get a…
by
07/25/2007
I’m buying my first apartment and the closing will take place in a few days. Do I get a gift for my real estate broker? I know that she is paid by the seller, but I don’t know what the etiquette is in this situation. If no gift, fine. If I’m supposed to get a gift, any suggestions or guidelines?
“You got her a gift…3% of the value of your homeâ€
Assuming you are pleased with your broker….the 3% fee she receives is not a gift. Your broker does not receive 3%. She splits this 3% with the house (the real estate firm she works for). In realty she is getting 1.5%. And lastly remember that unlike most people – agents do not receive an hourly or weekly wage, there is no set salary. This 1.5% is her pay – It’s not like it’s a bonus. With this said….I don’t think a gift is necessary.
The purpose of etiquette is to have people understand the ways of doing things so that no one feels uncomfortable or doesn’t know how to behave. Since you are obviously not well versed in etiquette (in your post you seemed to be trying as hard as possible to make the OP feel embarrassed and uncomfortable) I’m not sure why anyone would give what you say any weight at all. How rude.
Questions like this are so annoying to me on so many levels. A gift is a token of YOUR appreciation. How can anyone on this board or site give you guidance on that. These days “etiquette” is such a misused description and its use is usually an indicator of someone who has never been found guilty of having an original thought.
When my partner and I bought a second home in NJ, we spent many months with the broker looking at homes several weekends a month. We developed a close friendship. We not only gave her a Christmas gift (a scarf) we gave her a gift a closing–a framed picture we had framed especially for her. The price of the house we ultimately selected was relatively low and her commission not very large.
Her husband is a contractor who renovated our house and we got him a gift at the end too, an art book. They remain friends and we refer people to both of them.
That being said, I recently sold my home in Brooklyn. The listing broker was a close friend of many years. The broker who sold the property was someone in his office. I gave neither one a gift. I think i assumed the huge commission was gift enough. The selling broker gave me a bottle of wine at the closing.
So a gift certainly isn’t required unless you feel the broker has done something special for you that they weren’t otherwise compensated for.
Not customary, not expected. If anything buyer receives the gift.
But if you feel want to show appreciation – did more than expected – connected with broker – then go ahead. I’m sure person will be grateful that someone recognizes his/her effort.
wow. so much generalization–it’s like a form of bigotry. many brokers/agents work very hard to earn their money and serve their clients. if they were horrible, run. if they made the experience a good one for you and helped you get your new home–buy them a gift if you want to! sheesh.
Get a gift for your parents and your lawyer. It will be a better investment in future relations.
“You got her a gift…3% of the value of your homeâ€
Assuming you are pleased with your broker….the 3% fee she receives is not a gift. Your broker does not receive 3%. She splits this 3% with the house (the real estate firm she works for). In realty she is getting 1.5%. And lastly remember that unlike most people – agents do not receive an hourly or weekly wage, there is no set salary. This 1.5% is her pay – It’s not like it’s a bonus. With this said….I don’t think a gift is necessary.
The purpose of etiquette is to have people understand the ways of doing things so that no one feels uncomfortable or doesn’t know how to behave. Since you are obviously not well versed in etiquette (in your post you seemed to be trying as hard as possible to make the OP feel embarrassed and uncomfortable) I’m not sure why anyone would give what you say any weight at all. How rude.
Questions like this are so annoying to me on so many levels. A gift is a token of YOUR appreciation. How can anyone on this board or site give you guidance on that. These days “etiquette” is such a misused description and its use is usually an indicator of someone who has never been found guilty of having an original thought.
When my partner and I bought a second home in NJ, we spent many months with the broker looking at homes several weekends a month. We developed a close friendship. We not only gave her a Christmas gift (a scarf) we gave her a gift a closing–a framed picture we had framed especially for her. The price of the house we ultimately selected was relatively low and her commission not very large.
Her husband is a contractor who renovated our house and we got him a gift at the end too, an art book. They remain friends and we refer people to both of them.
That being said, I recently sold my home in Brooklyn. The listing broker was a close friend of many years. The broker who sold the property was someone in his office. I gave neither one a gift. I think i assumed the huge commission was gift enough. The selling broker gave me a bottle of wine at the closing.
So a gift certainly isn’t required unless you feel the broker has done something special for you that they weren’t otherwise compensated for.
It’s not customary, and definitely not expected, but it would be a lovely thing to do if you have an especially good relationship with your broker.
Not customary, not expected. If anything buyer receives the gift.
But if you feel want to show appreciation – did more than expected – connected with broker – then go ahead. I’m sure person will be grateful that someone recognizes his/her effort.
wow. so much generalization–it’s like a form of bigotry. many brokers/agents work very hard to earn their money and serve their clients. if they were horrible, run. if they made the experience a good one for you and helped you get your new home–buy them a gift if you want to! sheesh.
Agree with above… They are about to pocket a few thousand dollars off the seller. That’s a nice gift already