How much should I tip a broker when I buy a condo?
Started by corcwalk
about 17 years ago
Posts: 3
Member since: Sep 2008
Discussion about
I'm going to close on a condo in 3 weeks. The broker told me that even though the seller pays the broker fee, it is customary in manhattan for the buyer to tip the broker around 0.5% of the condo cost in cash. This sounds like a lot given the condo costs $720k. Thoughts?
lol, do you really expect to bait us into discussing that? are most of us really such losers that you think we'd actually even give you advice on that sillyness?
LMAO! corcwalk, if this post is for real, you should laugh at the broker as hard as you can and then tell him/her to kiss your ass.
15% is standard. If the service is really exceptional, you might consider 20-25%.
"15% is standard. If the service is really exceptional, you might consider 20-25%."
I would say 15% is about right... Make sure you give the broker low-denomination used bills. No 100's!!
WOW - What thievery.
Don't give her a red cent. Report her to her boss.
Corcwalk: With x'mas only three months away, please give your broker 50% and the rest goes to Salvation Army, Aman.
I do hope you're not serious, corc. The seller is paying the broker's commission. That is her payment. Period.
If anything, SHE should be tipping YOU for making her a sale in this down-trodden, panic-ridden market.
IF this is serious, IF ..... should the broker be reported to REBNY?
I would suggest you buy the broker an apartment in the condo.
You're broker sounds like a nice person. I'll bet he/her also has a bridge to sell you. I hope Santa and the Tooth Fairy will know where to find you at your new place.
Oh, and if you dare refer this broker to ANYONE or speak to him/her again, you deserve to get duped out of $3600.
Maybe payment in kind -- your broker can live in the apartment rent-free for the first three years, then you can live there for the next 27 years. The beautiful part for you is that beyond that, you won't even have to make any mortgage payments.
You should be worried - if your broker is trying to dupe you out of more money now in such a transparent way, what else has he/she said in the past that was also a blatant lie?
Hell, it's only $3,600. Cheaper than a Bar Mitzvah.
Brokers are getting desperate--I wouldn't be surprised if the OP's post is serious.
I keep getting calls and emails from a couple of brokers I've done business with in the past and they just don't seem to get the message that I'm NOT BUYING RIGHT NOW.
tech-guy, good point. I'll bet this broker has a history of lying. How unusual.
...This cant be real. If it is real, send us the name and Broker company name so that we can report this to REBNY.
Get the solicitation on tape and play it for the boss and rebny and get them fired - take away the license - and have the firm waive the real estate fee and let that come back to your pocket. I have pruchased several homes and my brokers bought me dinner and sent me flowers!! Shame on them.
you should ask the broker to give you 0.5% - you could have chosen from any of the thousands of out of job brokers out there - you chose him/her - he/she owes you
tipping aside -- they owe you for buying something that will quickly lose up to half it's value....
Give the money to me and I will pass it along...