November 27, 2006 6:39pm CST
I have been trying to buy a house for the past month. I used my friend from the track team I used to be on as my realtor. He has helped me quite a bit and since I just found out today that I am declined for the loan due to low work experiance he will not be recieving his commission for helping me. My question is... how should I thank him for helping me? He would have gotten close to $1k for the sell and I don't want him to be left empty handed. I did make a deposit for $500 when I made my offer which I will be getting back. Should I give this to him? More/less? What is your opinion?
• United States
18 Jan 07
I am a REALTOR. Real estate agents work on commission. The contract says we earn our commission when we match a ready and willing and able buyer to a seller. No match, no commission. So, if you do want to give your friend a gift, that is fine, but it isn't expected.
• United States
8 Feb 07
The very best gift you can give to a Realtor is more business. Just refer one of your friends, family, coworkers, or neighbors. The one person you refer may end up referring ten more and BAM! You're responsible for him becoming rich. Just talk him up around town. Tell everyone how professional he was and carry his cards with you. He will probably feel awkward receiving a gift or cash from you since you are a friend and he didn't even have the opportunity to finish the job. If that's the only reason you were denied, he will probably end up getting your business eventually anyway. Best of luck!