As a real estate agent, at any level, you need to plan on having a budget in place for client gifting. My goal with every buyer or seller is to create so much value for them that they feel like my team and I were worth every bit of the commission and more. The client gift serves as a thank-you to them for the business. It also serves as a way to establish a deeper connection with them and deepen referral business. As your business grows you will want to make sure you have a system in place to ensure your gifting is both consistent and personable.
There are several times throughout a real estate transaction when I think gifting is appropriate.
This is a very personalized decision that will vary based on your budget, the type of client and your overall gifting program. For tax purposes if you can brand your gifts they can be counted as a marketing expense rather than a gift, which has a $25 dollar per person tax deduction limit. If you are making those types of considerations, consult a CPA or tax advisor. Here are some gift ideas at various price levels.
Nest Learning Thermostat – The Nest thermostat will dramatically reduce your client’s monthly energy bill. It learns the behaviors of the occupants of a home to adjust temperature to their preferences based on if they are at home and awake, at home and sleeping, or out of the house. It integrates easily with smartphones and provides convenience and consistent monthly savings.
Personalized Return Address Stamp – Yes, people still use snail mail. A personalized return address label is something that buyers will need when they move into their new home and will have longevity.
This list is just a sample of some ideas that have worked for us in the past. I would love to hear what types of gifts you have given clients before and what we might have missed! Leave a comment below or send me an email.