As agents and brokers, hours are spent winning the business of clients and helping them find or sell homes. Once the deal is over, that connection dissipates.
The time spent in each client is an investment and it doesn’t have to be lost. You can make a lasting impact on clients and increase your chances of referrals or repeat business with a closing gift, one of the newest trends gaining traction in the real estate industry.
Most brokers see closing gifts as part of the cost of doing business — a way to thank clients for using their services to buy or sell a home.
“Closing gifts are a lovely gesture,” Pamela Liebman, the president and chief executive of the Corcoran Group, told the New York Times. “It’s a thoughtful way to say thanks and memorialize an often daunting process.”
A more typical gift is a bottle of wine or champagne, something celebratory to send clients on their way.
But for brokers who may have worked with clients for months, a bottle of wine may seem too impersonal. Stepping up their game and giving something that makes a more lasting impression might bring clients back for future transactions or help with referrals for business.
However, no closing gift is going to make up for poor service or a subpar agent, Lieberman pointed out.
“If an agent hasn’t done a good job along the way, an over-the-top closing gift won’t rectify a client’s negative experience,” she said. “Successful closing gifts are ones that commemorate a positive transaction and growing relationship.”
Some brokers give gifts that are both practical and self-promotional.
Brian Babst from the Novo-Babst Team at Corcoran likes to give out credit card-size phone chargers, engraved with his name and contact information.
Jason Burke, an agent at Citi Habitats, commissioned a graphic designer to create an animated emoji of his face and then had the image printed onto canvas tote bags. His social media tagline, “For the best apartments #CallJB,” was also included.
“The clients really love them,” Burke said, “It’s a purposeful reminder of why they hired me.”
Jonah Katz, a Corcoran agent, agrees that a closing gift can be a great gesture.
“A closing gift is a very personal thing,” Katz said. “It should be every bit as unique, thoughtful, and original as the person you are giving it to.”