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Updated about 10 years ago on . Most recent reply
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Kick back or gift card to listing agent?
Hi Everyone! I just bought a property without an agent and the listing agent, even though he did not take the buyers agent commission, has been guiding me along this process to include drafting the formal offer contract, putting all the documents in the cloud for easy signing, etc. He's been nothing but professional and very transparent throughout the whole process and if I ever do need an agent, he'll be the one that I call. So, my question is, because I won't be needing an agent any time soon, should I send the realtor a gift card with a nice thank you note or will that not suffice? Should I send him cash instead? Or am I being too generous and should I think that his going above and beyond is just what I should expect and he got his half of the commission for doing his job?
Most Popular Reply
Kick backs are a violation of RESPA. The utility of the word "kick back" in this thread is alarming.
While the intention seems proper the act, especially giving cash to a licensed agent, with expectations of future business outside of closing, lines up with violations of RESPA.
It is not clear why the mentioned agent did not participate in the entire commission for the sale of the property. That is pretty customary. As a Buyer the commission was never yours to bear. That liability falls onto the Seller. The agent taking only half of the more than likely agreed commission to be paid by the Seller is a benefit the agent gave to the Seller at closing. That is their prerogative.
The OP gesture sounds like it is in good faith and just trying to be nice. (the follow up post, not so much - red flag) Perhaps the best way to show your gratitude is send some referrals to that agent if and when you have a chance. Things are a little bit more above board in that manner and the referral from you speaks volumes. You will receive nothing and should expect nothing in return for the referrals.
Kick back is a bad word.