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Gifts to Asset Managers-- A letter from Vender Management

By
Real Estate Agent with ARDENT PROPERTIES

One of the letters that I received (not directed towards me) ---  That addresses one companies Holiday Gift Policy-- And I think that you will find this similiar with most banks that you will ever deal with.

 Take what you can from this letter-- It gave me a LOT of insight!!

 

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'Dear Valued Supplier Partner,



With the holidays fast approaching I wanted to stress FIS Asset
Management Solutions (Fidelity) policy on accepting gifts from our
agents and suppliers.



We respectfully ask you to please not send any sort of gift to anyone at
Fidelity, under any circumstance. Examples include, but are not limited
to: food baskets, gift cards, money, and dining certificates. We are
blessed with a great deal of business and fortunate to be gainfully
employed. There are many individuals and families in our country that
have real needs and could use your donations during the holiday season.




All gifts received by our mail room and office support staff will either
be returned or distributed to local charitable concerns when possible.
Instead of sending gifts to our office, we would encourage you to make a
charitable contribution on behalf of Fidelity; notifications of these
kinds of donations should be sent to me using the contact information
below.



Holiday wishes in the form of greeting cards are acceptable and
appreciated. All mail is opened prior to it reaching the intended
recipient; items contained in the envelope that violate our gift policy
will be 're-directed'.



Fidelity awards work to our partners based on the quality of service you
provide. We know that you have the best intentions when sending gifts
to our office and we appreciate those intentions. Please be advised
that decisions on future work assignments and listing referrals may be
impacted by those suppliers that have violated our gift policy.



Please contact me with any questions/concerns. Fidelity wishes all our
supplier partners a safe and prosperous holiday season!'

Rich Kruse
Gryphon USA, Ltd. - Columbus, OH

In other words, if you send gifts we will NOT work with you.

This has been a policy for many servicers for a long time.

Nov 25, 2007 12:41 AM
Robert Smith
Preview Properties, PC - http://www.RealEstateMich.com - Brighton, MI
SRES, Search for Homes Brighton-Howell-SE Michigan
It's no different than some large corporations' gift policies.  They don't want the appearance of impropriety.  I worked at a large University and they had a similar policy. 
Nov 25, 2007 01:33 AM
Paul Moye
Benchmark Realty - Franklin, TN
Broker, GRI, SRES
Thanks for sharing the letter. It should clear up a lot of issues and beliefs that you need to bribe your way into the business
Nov 25, 2007 01:36 AM
Vanessa Stalets
RE/MAX Elite - Brentwood, TN
REALTOR, Brentwood TN Homes, Real Estate

Great letter and reminder. I often think of "thanking" those I work with during the year in many capacities.

I have never really thought of it this way, thanks for the perspective!

 

Nov 25, 2007 01:40 AM
Rich Kruse
Gryphon USA, Ltd. - Columbus, OH
bout time with that pic.  nice.
Nov 25, 2007 04:41 AM
Jason Bhattacharya
ARDENT PROPERTIES - Chesterfield, VA

Rich,


Thanks for the compliment on the pic.  I actually read your post about finding some agent to work with on here-- And you commented on the total lack of anything on their profile.  So as soon as I saw that, realized that you were right-- I updated my profile!


See?  You can teach an old dog a new trick!! :)

Thanks!

-Jason

Nov 25, 2007 04:46 AM
Chad Baird
Re/Max Spirit - Dayton, OH

When I worked in Vendor Management for a National Bank, I would recieve all kinds of Gifts this time of year.  Some of the Vendors would go all out.  Everything sent though had to be turned over to our Ethics Officer who returned everything.  About the only thing that my Department got was a tin of Mixed nuts for all to enjoy, and that was because of the wording of the not enclosed, but it took 2 months to clear it from the Legal review.  The man hours spent far exceeded the cost of the nuts? 

At one point I caould I have been in The Bahamas, printing on a Sample Laser Printer, testing a Laptop (no need to return), with cases of various beers, wines, and liquors, counting my giftcards, while deciding when I can find the time for a cruise, and deciding where to go with my airline tickets. 

I seen many a contractor loose their contract over gifts to their contact.  I've also seen employees loose their jobs over accepting gifts and not disclosing them.  I only send cards out to the AM's and support Companies. 

Nov 25, 2007 05:55 AM
Christina Bennani-Persechini
Keller Williams Realty Boston North West - Lexington, MA
Realtor - The House For You
This is standard procedure. Hand written notes are still important.
Nov 25, 2007 06:27 AM
Matthew Boughton
Realty World Pacific Northwest - Longview, WA
Gifts have always been a HUGE NO NO!  If you want to really thank your AM's attend the REO Conferences and buy them a few drinks.
Nov 25, 2007 11:37 AM