Should I tip my broker?
Started by thoffdiddy
over 11 years ago
Posts: 3
Member since: Apr 2009
Discussion about
Am I supposed to tip my real estate agent (or others) when I close on the sale of my home? If so, how much?
you don't tip the broker. they make a ton of money off of you already. You tip the Title search person.
Ditto on bigmoviebuff comments.
If you catch him off guard, a good shove to about 20 degrees should do it. Don't forget to yell "TIMBER!!!"
No prob, you're welcome, any time, any time.
For title closer, do the same, but stomp on his foot first, then apologize insincerely, then use procedure outlined above.
Tip no one. They all get paid via comission, fees, etc
1. tip the title closer
2. they get as little as $50 for closings from title companies
3. yet without them NYC real estate would be much harder to do
If you are moving into a coop or condo, tip the staff. You'll learn all about the bldg and owners.
Thanks for the input. Just to be clear, I'm the seller here . . . does that change anything re: the tipping analysis? am I correct that it's the buyer who tips the title agent (not me)?
No tip
thoffdiddy: Correct - the buyer will generally take care of the title agent. The buyer's attorney often provides guidance with regard to the amount.
As for tipping your broker, that's a clear no. The legality of your agent ACCEPTING a gratuity is open to debate, but there's certainly no expectation that you will offer one. If you love your broker, stay friends, give referrals, take her out to lunch.
Just this question means that your broker is deceiving you. He or she is not your friend any more than the car salesman. He's being fully paid, and that he's nice or "looking out for you" is just part of his responsibility. Doing a good job doesn't demand extra compensation.