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Gift Certificates

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sam strahan

Junior Member
Joined
Jan 17, 2003
Professional Status
Licensed Appraiser
State
Texas
is it legal to send gift certificates to lenders. i want to send a couple of lenders some gift certificates along with my business cards. this is a way to thank them for the business.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Sam:

There's a limit under the Texas rules, something like $30. Check the TALCB website for exact details. It is against the law for kickbacks, etc for appraisals, but they allow for small gifts as I recall.

Roger
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
I am going to say this off the top of my head without looking since it is late and I just walked in I am tired. I think USPAP says something to effect that it is OK as long as the gift is within what would be considered normal business.

Assuming you are talking something like 20-30 dollars I wouldn't think that would be an issue (state laws aside). As long as no one could say and it look as if you were offering bribe or a kickback I believe you don't have a problem.
 

sam strahan

Junior Member
Joined
Jan 17, 2003
Professional Status
Licensed Appraiser
State
Texas
i believe i will stick to a good ol' fashioned thank you
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Sam, Christmas gifts are always a good thing and that is totaly normal in buisiness. I have done that with some of my wifes home baked goodies.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I like to give a nice bottle of wine but quite honestly...hasn't been necessary lately since everyone is so busy. Berringer's White Zin, about $5 when on sale. Top it with one of those little Christmas bows and your business card.

Something that was very sucessful in the past was having a lunch catered in for the office. This is a little more expensive but usually leaves a lasting impression. Show up before the catering truck and give everyone a sales pitch then have lunch with them. Costs between $10 to $15 a person. If you really want to go all out, call a local music teacher and find someone who can come in and play violin for an hour. Be sure to include the secretaries in the deal.

Have a summer BBQ in a park. Invite several different mortgage brokerages who then can compete in volley ball, soft ball or lawn darts, etc. Beer n Brats type event.

Going to repeat my favorite, compliments of my sister. Mason jars filled with M & M's. Create some labels on your computer...a business card that looks like a jar label. On it say....."I will refill the jar every time I deliver an appraisal".

Happy marketing!
 
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