R162-2f-401l. Gifts and Inducements
(1) An inducement gift is permissible and is not an illegal sharing of commission if the principal broker or affiliated licensee offering the inducement gift to a buyer or a seller complies with the underwriting guidelines that apply to any loan in the transaction for which the inducement has been offered.
(2) A closing gift is permissible and is not an illegal sharing of commissions.
This should not be confused with Section R162-2f-401b Prohibited Conduct as applicable to all Licensed Individuals:
An Individual Licensee may not:
(12) pay a finder’s fee or give any valuable consideration to an unlicensed person or entity for referring a prospect, except that:
(a) a licensee may give a gift valued at $250 or less to an individual in appreciation for an unsolicited referral of a prospect that results in a real estate transaction;
In addition, the following advise is provided from the NAR Realtor Code of Ethics:
- Standard of Practice 12-3
The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through the REALTOR® making the offer. However, REALTORS® must exercise care and candor in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from the REALTOR®’s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer. The offering of any inducements to do business is subject to the limitations and restrictions of state law and the ethical obligations established by any applicable Standard of Practice. (Amended 1/95)