A closing or housewarming gift is unquestionably a highly recommended business strategy for real estate professionals. Not only is it a gesture of appreciation and gratitude towards your client, but this simple action will also help you maintain a strong long-lasting relationship with them. The two main purposes of closing gifts in real estate are, firstly (and most importantly), to showcase your sincere appreciation and secondly the potential this has to generate leads and referrals. It is important here to note that the primary aim for giving a closing gift is not for the sake of expecting a referral or review, instead it is to connect with your client on a personal level in a meaningful way and to celebrate their success.
Why is this so important in today’s economy? Metro Vancouver’s real estate market has always been strong, and today there are more real estate professionals than ever before. With an abundance of competition, it is increasingly important to show your gratitude towards your clients to maximize your opportunity to build connections, get referrals and reviews. As an real estate agent, you most likely know the importance of word-of-mouth referrals. This is where the positive client relations is significant to a thriving practice.
It is proven that clients who feel that their business was appreciated, are more likely to talk about their positive experience with you and your agency. This in turn will help you get more leads and positive reviews for your real estate brokerage. It is evident that this simple gesture overall will help your business thrive in today’s real estate market. By doing so, you not only build a rapport with your client after the transaction, but these closing gifts translate to great tax write offs.
When choosing a closing gift, it is important to show thoughtfulness as this will most likely be your clients first house warming gift. Many experts recommend to steer away from company branded items, and to rather choose items that are: personal, practical and local. The last thing you want is for your gift to end up in a closet somewhere and forgotten about. It is important to think of something that the recipient will actually keep and use! One of the top choices real estate professionals use are gift baskets containing items that the new homeowner could use and appreciate. Another outstanding gift would be a housewarming charcuterie boards and wine. Let’s be honest, no one has ever been disappointed with wine or charcuterie.
In addition to gifts, it is also important to continue the follow-up to show your client that they are still in your thoughts. This will help them remember you positively and think of you next time they think of buying or selling a property or next time their friends/family are doing so. Small investments like closing gifts are not a large undertaking or use of resources and they are very helpful in building both your business and reputation in the community.