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Should agents accept a monetary "THANK YOU" gift?

I have a fellow agent that was given a very substanial monetary "Thank You" gift from a recent client after the closing. Should the agent keep the gift or should it be graciously returned and if so how? Whats the most you have been given by a client as an appreciation for a job well done?

I'd love to hear your thoughts.....this has been discussed and now we want your opinions too....

www.lauraslexingtonhomes.com

I specialize in Buying and Selling Lexington South Carolina Real Estate in and around the Midlands of South Carolina. If you are thinking about buying or selling your home in Lexington, Lake Murray, Gilbert, Irmo, West Columbia, Columbia, Red bank, Pelion, Gaston, Chapin, Prosperity, Saluda, Newberry or other surrounding areas of South Carolina, and more importantly, want to work with the local area expert, please contact me at your earliest convenience.

Posted by Laura Jefferson on 10/02/2009 08:43 AM

Comments (18)

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18 Comments on Should agents accept a monetary "THANK YOU" gift?

OCT

I believe gifts here have to be processed through the broker, i.e. no direct compensation. I would say if the broker is OK with it (disclosed), then treat it like a bonus!

It's rude to give back a "gift". As long as the agent didn't tell the client that gifts are standard and other things in order for the client to think a gift was something they had to do; if the gift was out of the kindness of their heart, there is nothing wrong with it... The most I've gotten is flowers.

Tough call. The worst thing you can do to the sender of a gift, is return it! Flowers and some tokens of appreciation should be okay ... anything larger, perhaps should be donated or shared with the office, explaining why to the client along with your sincere appreciation.

I am with Gary. We cannot accept money outside of our broker. The label merely puts it in a gray area. I would run it through the broker just to be safe.

And like Donna, I've never received more than flowers. Kudos to the agent for doing an obviously fantastic job! Nice to see other realtors proving their worth!

I agree with a few here, we are not allowed to accept money if it doesn't go through the broker. Either way, I would send the money back and say thanks.

Laura --- a real estate agent cannot receive money for anything related to real estate services unless it goes through the broker --- one of my favorite sayings is "Nothing is a problem, until it is a problem" -- she may get by with it, but then she may not. I would not do it.

Mama Liz

Wow Laura,great post idea! One client offered me a large sum and wouldn't take no for an answer, I told them to donate the money in my name to the local food bank and they accepted...win/win? My broker thought it was a great idea...
Cherish every day!
Paul

I'm actually in the same situation right now, but I made sure that the client paid my broker and then the broker paid me. I wanted to make sure there was no issues. I have no problem with a client giving a gift to an agent for a job well done, even if it is monetary, they clearly earned it!

Todd Clark - www.LivingBeaverton.com

Laura, personally I don't have a problem with it but the law is quite clear here, all money is processed through the broker. I really like Pauls idea of having it donated in the agents name.

Great comments here - not accepting the gift is rude, BUT always have to be on the cautious side - going through broker or making it a donation on behalf sounds right.

A gift is a gift! What if the client was offering a priceless work of art or a valuable registered horse? If they choose to give a gift ... I find it hard to believe that it's not acceptable or needs to be run through a broker. If the gift is so high in value as to trigger a gift tax ... of course it need to be reported appropriately, but still ... a gift is a gift!

OCT

I wouldn't definitely run it through my Broker.

Good question, is a gift of cash a gift? or is it a bonus? I have to think it would be considered, by a reasonable person, to be a bonus. It should be turned into the broker and then paid to the agent, as the agent is a sub-agent of the broker.

OCT

Yes guys right answer. Thre agent is me and I have ran the 1900.00 bonus through my broker. It just feels good to be appreciated that much by a client. She understands the work it takes too make a smooth purchase. Its now also forged a friendship for life. I won just with that task.

OCT

I agree with tGary that the gifts like any compensation should go through the Broker and you did mythe right thing! I once was give a subsantila gift certificate to a local high end restaurant and my Broker was nice enough to not ask to go along for Dinner!?!?

OCT

Hi Laura,

Congratulations on such a nice gift. That speaks very highly of you and the quality of your work

NOV

It's best to run everything through your broker so as there is no impropriety of bad conduct. Why jeopardize your license?

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