For agents and clients everywhere, closing day is one of the most rewarding moments in a real estate journey. Whether you’re representing the buyer or the seller, closings should be a celebration of all of the time, stress and hard work it took to navigate this transaction.
But just because you reach the finish line, it doesn’t mean the relationship is over. From endless phone calls and emails to signing stacks of paperwork and meeting deadlines, you have both been through a lot. Closing gifts are a great way to express your gratitude and celebrate your client’s new beginning.
Choosing the right closing gift, however, is very important. You want to show your client’s that you have listened to their wants and needs, and remind them how much you care, not just about this transaction, but their future in their new home. Additionally, closing gifts can be key for a successful and thriving real estate business.
Why Closing Gifts Are a Good Idea
It is important to show your clients that they are appreciated and leave a lasting impression to not only maintain these relationships, but keep you top-of-mind, grow your sphere of influence and build even more relationships through referrals. Genuine and personal connections with your clients is something you should always strive for, especially for the success of your business.
With personalized and mindful gifts, you are also creating a memorable experience for your clients that will stay with them for years to come. If your clients, or someone they know, needs your services in the future, you will be who they pick up the phone to call. This can also help motivate them to provide positive testimonials and reviews that can be shared across your social media accounts and your website.
How to Determine What to Gift Your Clients
When it comes to closing gifts, practicality and sincerity are where you want to start. You have worked with your client for some time now to get them to this point, so you should have a good idea of their lifestyle and interests. Consider who lives in this home, whether it is a young couple, a family with children or a retiree, and give a gift that will resonate with everyone.
It is also important to give a gift that will benefit your clients, rather than something they can’t or won’t use. Is this something they need or want? By giving them a gift they can put to use right away, or something that can help them out down the road or once they are settled into their new home, make sure you are thoughtful and deliberate.
How Much to Spend on Closing Gifts
Before you go out and purchase a gift for your client, it is important to understand your budget. First, start with your market, the type of property you sold and the type of client. For example, if you are working in a luxury market and your client just closed on a luxury property, your gift should reflect that. Or, if your client happens to be a family with young children, consider gifting something they can all enjoy, rather than something just for the adults or the home.
Keep in mind that cost isn’t everything. The more meaningful or personal the gift, the better. If your client is new to the area, consider a $50 gift card to a local restaurant or experience in the area to help get them acclimated to their new neighborhood, town or city. If you are closing on a luxury property, you may want to spend a bit more money on a gift, but try not to exceed $100.
Closing gifts can also be written off as a tax deduction, but there are rules. If you plan to purchase a gift for your client, the IRA only allows a $25 deduction limit per individual. If, however, your gift is decked out with your personal branding, you may be able to deduct the entire gift as a promotional or advertising expense.
Closing Gift Ideas for Your Next Client
When it comes to choosing just what gift is right for your client, you may quickly become overwhelmed. Remember, you want to keep their interests and needs in mind. Refer back to your notes and conversations you had throughout the process, consider if they are new to the area, or simply ask them if there is anything on their housewarming wish list to fill that void. Below is a list of some closing gift ideas for your next client to help you stay top-of-mind and leave a lasting impression.
– Custom Return Address Stamp: Now that your client officially has a new address, celebrate their purchase with a custom stamp featuring their new address. This will be especially helpful for your clients if they plan to send out cards for holidays or invitations to their new home.
– Local Gift Card/Membership” If your clients are new to the area, or simply like to explore their neighborhood, a gift card to a local restaurant or a membership to a local museum or club will make a great gift that the whole family can enjoy.
– Local Experiences: Another gift that will encourage your clients to explore their neighborhood are local experiences. These can include everything from cooking classes at the local bakery to tickets to an upcoming film festival or fair.
– Video Doorbell: Smart home technology is quickly becoming a must-have for homeowners everywhere. Your client will surely appreciate a lasting gift to keep their home safe.
– Subscription Boxes: Nowadays, there are monthly subscription boxes for just about every interest. Consider who your client is and what they like to do while keeping you in their minds each month.
– Yard Games: From corn hole to bocce ball to a volleyball net, giving the gift of family fun in their own backyard is surely a gift that keeps on giving. Even customize the games to feature the household last name for a more customized option.
– Recipes: A classic housewarming gift, recipes can get your clients excited about cooking in their brand new kitchen. Create a few recipe cards and add your information to the back of each card to keep you top-of-mind. This is a great option to add to a gift basket, as well, with utensils or other cookware.
– Home Decor and Art: If you have a good idea of your client’s decor or art style, this can be a great gift for their new home. Consider purchasing a painting from a local artist, creating a custom piece of art featuring their new home or putting together a collection of frames to put their favorite pictures on display.
– Gift Basket: With recipe cards, home essentials, decor, gift cards and more, you can go the extra step and feature multiple gifts thoughtfully compiled into a gift basket. A candle, a bottle of wine, a coffee table book, a collection of coffee and new mugs, kitchen or bath essentials and so much more can create a beautifully presented and purposeful gift basket.
– Professional Services: You likely have some great relationships with local landscapers, interior designers, painters and more. Use these relationships as leverage for client gifts. Refer your clients to these companies in exchange for free consultations or discounts on their services. Your local partners will appreciate the new business while your clients will appreciate the services for their new home.
Paige Brown is RISMedia’s content editor. Email him your real estate news ideas to pbrown@rismedia.com.
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November 04, 2021 at 05:44PM
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Leave a Lasting Impression: A Guide to Closing Gifts - RisMedia.com
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