Why does this question arise? Isn’t it strange? To my mind, realtor closing gifts are a kind of an idea that is worth being analyzed as well as any real estate transaction you are going to make. Who should be grateful? The person who gets some wonderful place to live or the one who has undertaken so many steps in order for him or her to get the real estate he or she was dreaming about?
If it concerns a real estate agent, closing gift for sellers as well as for buyers may be considered. Could you imagine the bench in the yard of a beautifully decorated house with a sign ‘Compliments of your Realtor, Jane, Broker’? It could at least encourage their guests who see such a cute sign to apply to you in the future.
Closing gift for seller is a good compliment that shows that a real estate agent likes dealing with that person, a gift for real estate agent matters a lot because his or her presents to a buyer is a magnificent way to remind of you! Some coffee mugs or jars as closing gifts for buyers and sellers could inspire them to recommend you as soon as they have a chance.
What do realtors give as closing gifts? Lots of things. Depends on how grateful they are and how many expectations they have got. It doesn’t matter if these are oversized monogrammed pool towels for everyone in the family, a park bench or recycled pallets that read ‘It’s our first home’ or ‘It’s my place to live’, these ideas sound to be great anyway! A housewarming gift from a realtor is usually considered to be quite acceptable! A client could have a useful tool or thing to use as well as a reminder of a successful transaction!
But another question to be considered carefully is realtor gift ideas. Is a gift for a realtor at closing a deal necessary? Shall a realtor thank-you gift be expensive? Can realtors accept gifts from clients? And can realtors accept gifts after all the procedures were over and no commercial relationships exist? What is an appropriate gift for a realtor you hired?
What About RESPA?
What do you need to do? Do you buy your realtor a gift or do you donate money into his or her future projects? Some clients have got crazy ideas about gifts for realtors at the closing deal because they feel so thankful, they are searching for some valuable ‘gifts for your realtor’ solutions on the Internet and they could even succeed, but the main point in the Etiquette Code for a Real Estate Agent is that gifts to realtors at closing a deal are prohibited.
Section 8 of the Real Estate Settlement Procedures Act (RESPA) says that “no person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person.” So, the best gift for a real estate agent at closing a transaction is a thank-you note. At least they’ve got their commissions)