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Gift for Realtor

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  • July 26, 2022 at 2:20 pm EDT #37338
    myarnell
    Participant

    We have received several requests from lenders asking if they can give a small gift to a realtor. Examples of the gift could include a gift basket with goodies, bank logo items (e.g., umbrella), floral arrangement with a thank you card, etc. Is this allowed under RESPA Section 8? If so, is there a maximum dollar amount to avoid breaching “a thing of value”? Any guidance is appreciated.

    July 26, 2022 at 4:29 pm EDT #37343
    jholzknecht
    Keymaster

    Section 8 of RESPA, the implementing regulation, and the CFPB’s Frequently Asked Questions all confirm that no thing of value may be given in response to a referral. There is no acceptable minimum amount.

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