2016-12-02 00:00:00Growing a BusinessEnglishLearn how to maximize your real estate repeat and referral business with buyer and seller closing gifts.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Real-estate-agent-holding-smartphone-near-briefcase-brochure-on-desk.jpghttps://quickbooks.intuit.com/ca/resources/growing-business/real-estate-what-you-need-to-know-about-closing-gifts/Real Estate: What You Need to Know About Closing Gifts

Real Estate: What You Need to Know About Closing Gifts

2 min read

Current clients who are homebuyers and sellers can help you to generate a lot of business in the future. It is standard for real estate agents to give a closing gift to their clients upon the sale of a home. The gift celebrates the end of the end of the house-hunting or house-selling process, and can help to foster a long-term relationship with your clients. This relationship can lead to repeat and referral business for years to come.

Likes and Dislikes

You can learn a lot about your clients while driving around neighbourhoods looking at houses. Casual conversations can reveal places and things that your client likes, such as their favorite restaurant, day spa, and clothing store. Giving them a gift that’s reminiscent of a conversation you had also tells them that you’re listening, and that you care enough to buy them a present that means something and has value. This thoughtfulness tells the client that they are not just a paycheque, which increases the chances that they will refer you to their friends, as well as call you the next time they want to move.

Long Shelf Life

Maximize the positive impact you have made on your clients by giving them a gift that will last for many years. Gift baskets, flowers, and even a fruit-of-the-month subscription will be done with and gone in a short matter of time. However, household items, such as engraved wine glasses, flatware, or dinnerware will likely be around for many years. As well, the homeowners will think of you every time they use the gift. You can get creative as well — a framed reproduction of an old map of the town the client is moving into is both fun and memorable.

Lasting Impression

It is your job as a real estate agent to make sure that your client never forgets you. Staying front-of-mind means there is a better chance that you’ll be called upon to help them find their next home. A closing gift with a long shelf life can help you to accomplish just that. For example, if your clients live in the Midwest, a snow blower can be a useful, unique gift — you will be remembered every time it snows. Likewise, if the house came with a pool, consider gifting monogrammed pool towels, a pool cleaning service, or even a new grill. If you know the buyers are considering adopting a dog or cat, then a gift certificate to the local shelter can make you the hero of the family.

Keep Track of Clients

Staying organized, by using Quickbooks apps, can help you to track client successes throughout your career as a real estate agent. Along with the houses, prices, and neighbourhoods that clients opted for, you can document the number of repeat business that you have received and every time that each buyer and seller has referred you to a friend or family member. Additionally, organizational apps are an easy way to record the closing gifts that you have bestowed on your clients, and which turned out to be everyone’s favourites.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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