Real Estate Closing Gifts
Personalized Real Estate Closing Gifts
When it comes to closing gifts, you may think you have it all figured out. Have you ever wondered if there was anything you could do to make it more memorable? Here are six truths about closing gifts that you may not know.
- Think. Put some thought into what you think your client will appreciate. If your client is not much of a cook, then a cutting board isn’t going to cut it. (Pun intended.) When you are helping someone buy or sell a home, it is a very personal experience. Whether your client realizes it or not, they are giving you a plethora of personal information for you to provide that perfect gift. Make either mental or physical notes about their interests or hobbies, then figure out what you would like to give and have it personalized.
- Long-term. A perishable gift basket is lovely, but your gesture is a memory after a few days. Give something that has lasting value and will keep your name and company top of mind.
- Don’t be cheap – Your client will make the most expensive purchase of their life, and you can’t follow that up with something you found at Five Below. Perception is reality; most home sellers/buyers think realtors make a lot of money. While we know that realtors incur many expenses in selling a home, that doesn’t take away from the perception. The best part about personalizing a closing gift is that it always leaves a great impression and makes it much more valuable.
- Plan – Instead of waiting until the day before closing, start thinking about what you would like to give/spend once the sales contract has been signed. It’s a good idea to assign a percentage of your commission on each sale that you can use as a gifting budget. That way, it’s an expense that will already be accounted for, and you can probably spend a little more than you thought.
- Referrals – According to the National Association of Realtors, a whopping 88% say they would use their realtor again. Still, in reality, only 19% work with the same agent or recommend them to others. If your gift is thoughtful, meaningful, and shows your appreciation for their business, you are much more likely to receive their future business and also will be a source for referrals.
- Taxes – Make sure your gift has your name, phone number, and company logo on the the gift. When it has your logo, the gift becomes 100% tax-deductible. The logo does not have to be intrusive in any way. We can put it on the back or in some other inconspicuous location.
There you have it—six truths on how you can become more successful.