Real estate is a competitive game and property settlement gifts have now become the expectation, rather than the exception. Landing on the right gift however, could be the difference between locking in the loyalty of your customer or having them shop around next time. Gifts need to be memorable for the right reasons… not the wrong ones.
Settlement gifts are an important relationship building tool and a thoughtful and effective way to close off a sale. However, a low end, generic gift can do more damage than good when given to the wrong person.
Keep it personal. Understand your client’s priorities, taste and styling. Don’t be afraid to ask questions if you are unsure.
Bindle has developed these simple guidelines to help you avoid any costly settlement gifting rookie mistakes.
- Think quality over quantity – always. Avoid the temptation of purchasing gifts that incorporate multiple products of low value because they look ‘bigger’, especially products that are quickly disposed of and therefore quickly forgotten.
- Keep it local. When a new home is purchased nothing will feel more ‘neighbourly’ than receiving a gift that is locally sourced, really propelling the feeling of belonging to a new place.
- Implement subtle branding. So long as the gift is appreciated and memorable, any branding should be disposable. Save your marketing for the brochures and website and keep your gifting classy.
- Be cautious of bubbles – the ubiquitous bottle of champagne is a gift of the past when it comes to settlement gifting and it’s easy to get it very wrong. There can be a clear associated dollar value depending on the brand presented which may please some, yet offend others, and attitudes towards alcohol can vary dramatically from one culture to another making it difficult to know when to mention it, let alone drink it! Of course – there is always an exception to a rule and if you know your client always chooses to celebrate with bubbles, and what their preferred sparkling/champagne is, then it can never hurt to give them exactly what they love.
- Finally, always deliver the gift in person. Show your client their business is worth your time.
The buyers of today are the vendors of tomorrow and a positive gift giving experience will enrich the trust and loyalty that leads to repeat business, and is a worthy investment in word of mouth marketing which is often the most reliable and trusted source of new business.