Gifts at closing from investors or regular buyers-ethical????

Ok, I have been listing foreclosures for a little over 3 years but here lately it seems like investors are coming out of the woodwork!

They all want a deal and most of them are shady. Do they not think we talk to other agents? I have had several bribes in these last few weeks. I tell them all the same thing-I can't accept anything.

This brings me to my question. I know we can give our clients a closing gift, but can they give us one? And what is the limit? I have had others say they want to buy me something, and I always say no.

I know several companies you are not allowed to give gifts to the AM either because it looks like a bribe for business, which I can understand but I know of an agent that he does it all the time, and he gets listings all the time! I do my best to be honest and ethical and don't get as many listings, but then these agents are unethical and get alot of listings, even past the 15 mile radius. He just butters them up. What gives?

REO business, as much as I like it, can be so frustrating.

Replies

Tara Nagelhout January 31, 2011 at 5:15am

That is fascinating! I have never thought of it before. So, I would think that ANYTHING of value would have to be paid to your broker and then given to you. I am my own broker, but even before I was.....this wasn't a big issue. I received a bag of pool toys from a client last year. They said they tried to think of what was important to me, and my kids and my pool came to mind. That was SO sweet and wonderful. I received a restaurant gift certificate once, it was $50 and another time a nice bottle of vodka. But these were all just nice gestures from appreciative buyers...that is a great question, to which I haven't really given you an answer.
- Valerie Hernandez > Tara Nagelhout December 30, 2011 at 5:48pm
  
  Sorry, I just saw this, but that's funny because nobody has answered it.

This reply was deleted.