Front Page Forum: Gifts for Brokers?
On the Brownstoner Forum today, a reader writes, “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?” With nine responses so far, the answer is a unanimous “No!” If we recall correctly, the listing broker who sold our apartment…
On the Brownstoner Forum today, a reader writes, “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?” With nine responses so far, the answer is a unanimous “No!” If we recall correctly, the listing broker who sold our apartment in Manhattan for us gave us a gift, and other commenters note having received gifts from brokers like a book about Brooklyn and a stress ball in the shape of a house. But this one comment kinda sums up the consensus about giving presents to brokers: “You got her a gift: 3% of the value of your new apartment.” If any brokers are reading, have you ever gotten gifts and what do you think of the practice?
Do I Get a Gift for my Broker? [Forum]
what’s that Hunter S. Thompson quote about the music industry? oh here it is: “The music business is a cruel and shallow money trench. A long plastic hallway where pimps and thieves run free and good men die like dogs. There is also a negative side.”
This is a utopian vision compared to the real estate in a “boom” market. I almost think this is a bogus question FROM a broker trying to start a weird and completely ludicrous practice.
When I bought my vacation home in upstate New York, my broker gave us a lockbox and a book on septic tank maintenance. Weird but thoughtful.
When we sold our apartment through Aguayo a few years ago, we were incensed that our very useless broker gave the buyers a gift. We wrote the check to her! Once we went into contract she was m.i.a. and no help to us.
Buyer’s brokers are vultures who never have their client’s best interests in mind. Seller’s brokers should get a gift for their clients. And yes, the commission is sufficient giftage for the broker.
Our very kind broker gave us a generous gift certificate to one of Brooklyn’s top restaurants when we bought. He was the “buyers broker”, and split the commission from the sellers with their broker. So we didn’t actually pay him, but he still got a lot of money from our sale.
agreed. it’s bad enough having to ‘tip’ the title insurer at closing.
Often there is a buyer’s agent AND a seller’s agent and they split the commission. Usually THEY give YOU a housewarming gift.
the broker should buy a gift for the buyer…not so much for the seller since they tend to make out pretty well.
when we bought our condo, we received a case of wine + flowers
Maybe I’m just confused, but isn’t the broker representing the SELLER, not the the buyer?
In that case, wouldn’t the seller give the gift?