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Closing Gifts

By
Real Estate Agent with RE/MAX Accord

When I first got in to the real estate business in the San Ramon Valley (in the San Francisco East Bay) around 10 years ago, it was common practice for agents to give their buyers a "Closing Gift" when the transaction closed. Sometimes a $50 or $100 Home Depot voucher, sometimes something a little more personal - perhaps a framed photo of their new home. Gift baskets and bottles of Champagne were others.

Champagne BottleNow it seems that this practice is dying out. Sure, the older hands who have been in the biz for years still do it but I don't see it so much from the newer agents.

I suspect that the reasoning is that real estate should be treated more as a Business, rather than a social activity. Maybe there is some logic in that. After all, when did you last get a gift from the person who sold you your last automobile (even if it was a Mercedes)? Or from your CPA?

What do other AR members think? Is it an out-dated concept? How about home buyers? Is it expected?

And why is it buyers that get the gifts? What about sellers?

 

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Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

I still give closing gifts to buyers even after 7+ years in the biz. The older clients don't give anything. I don't give sellers anything but a thank you card. Their gift was the profit I made them or the monkey I got off their back!

Jan 12, 2011 10:03 AM
Devona Garrigus
Garrigus Real Estate - Redlands, CA
REALTOR® / Short Sale Specialist

Bernard - I do think closing gifts can be a great idea, but I do not utilize them myself. I just don't have the time to do them anymore.

Jan 12, 2011 10:03 AM
Ava Anderson
A-Z Atlanta Realty - Snellville, GA
Selling Atlanta from A-Z!

Like Rob I give my buyers a closing gift.  Normally something they can use in the new house, but I don't give my sellers anything.  I see a lot of older agents in my market who only give a folder for loan docs and I think that's a bit impersonal.

Jan 12, 2011 10:30 AM
Lois Castleberry
RE/MAX Affiliates - Richwood, KY

I still give closing gifts to my buyers.  As you say around $50 to $100 depending on the price of the home purchased.  I want them to remember their experience as pleasant and hopefully tell all their friend what a great agent they had. 

Jan 12, 2011 10:52 AM
Trang Beuschlein
Homes for Sale in Campbell CA- Broker-BKR Realty - Campbell, CA
Campbell CA Real Estate - Campbell CA Homes for Sa

I give my buyers a housewarming gift but nothing to my sellers.  I've never thought about giving anything to the seller but may reconsider after reading this post.

Jan 12, 2011 10:52 AM
Bernard Gibbons
RE/MAX Accord - San Ramon, CA
The English Agent

Maybe "house warming" is the key phrase. I wondered where the practice originated. That would explain why we give the buyer a gift and not the seller.

Jan 12, 2011 11:33 AM
Sarah Marie
Atlanta, GA

Bernard,

I wanted to share, as I've met MANY agents and lenders who've struggled with that "perfect gift" and it's a tough one ... Personalizing or Gesture gifts really make us feel good about the thought and energy that we put into it - but you don't really ever know if the client REALL likes the thing we bought, or if they never really use the thing-a-ma-bob, or if they did like the wine/cheese/gift card - then it's just consumed and POOF - it's gone.

 

I work with hundreds of agents in Atlanta, and around the country that wanted a universal, high-quality gift that lasts a lifetime and is used DAILY in the kitchen (bonus - that's where friends and family gather!)  These agents love it because their name is engraved on this valuable addition to their kitchen - never to be thrown out, used up, or consumed - and it's American made!

 

Take a peek:  www.YourMarketingNinja.com

 

AND - since your info is ENGRAVED right on the product - it's tax deductible as ADVERTISING, or promotional items ... BONUS!

 

Sarah Marie (404) 828-0137

 

Oct 05, 2011 01:05 PM