{"id":7533,"date":"2015-02-16T13:37:13","date_gmt":"2015-02-16T13:37:13","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=7533"},"modified":"2015-02-16T13:37:13","modified_gmt":"2015-02-16T13:37:13","slug":"7-ways-closing-gifts-backfire","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/7-ways-closing-gifts-backfire\/","title":{"rendered":"7 Ways Your Closing Gifts Backfire"},"content":{"rendered":"

7 Ways Your Closing Gifts Backfire<\/h2>\n
\"7<\/a>

7 Ways Your Closing Gifts Backfire. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Showing thanks to your clients with a closing gift is a traditional way many real estate professionals seal up a transaction. A closing gift not only serves as a special treat to your home buyers and sellers, but it can also help make you more memorable long after a transaction ends. After all, expressing gratitude can be a powerful motivator in getting clients to use your services again down the road, studies have shown.<\/p>\n

But even with the best of intentions, your gift-giving gesture can backfire if you\u2019re not careful. For starters, making the gift all about you \u2014 making your logo the central feature of the gift \u2014 will likely ensure that it gets relegated to your client\u2019s attic. \u201cMake your gift client-centered, not agent-centered,\u201d says sales coach Liz Wendling, who works with real estate companies on maximizing their business potential. \u201cIf you give them a gift that is egotistical or something they won\u2019t enjoy, it isn\u2019t going to be used to remember you by.\u201d Don’t worry about displaying your information too prominently; just give your clients a thoughtful gift, and they’ll remember you, Wendling says.<\/p>\n

    \n
  1. Making it all about you: <\/strong>That engraved wall clock with your company\u2019s logo etched in the middle really is the perfect gift \u2014 for you. Your intention is that your client will remember you every time they glance at the time. But in all honesty, what\u2019s the likelihood that a clock with your name plastered all over the front will end up tucked away in their attic? \u201cIt\u2019s not about you,\u201d says sales coach Liz Wendling, who works with real estate companies on maximizing their business potential. \u201cMake your gift client-centered, not agent-centered. If you give them a gift that is egotistical or something they won\u2019t enjoy, it isn\u2019t going to be used to remember you by.\u201d You needn\u2019t have your name and logo in all caps all over your gift for them to remember your kind gesture. As long as it\u2019s a thoughtful gift, they\u2019ll remember you, Wendling says.<\/li>\n
  2. Not listening: <\/strong>You\u2019ll miss the opportunity to give your clients a truly heartfelt gift if you don\u2019t tune in to their likes and dislikes. \u201cWhen you\u2019re driving around with them showing properties, they may mention a favorite restaurant \u2014 which you could give them a gift card to \u2014 or maybe how they\u2019ll be taking a cruise soon, and you could give them money to spend for that,\u201d Wendling says. \u201cClients are dropping hints all the time. This is one way you can make yourself more memorable, by giving them a gift from listening closely to their likes and dislikes. They\u2019ll feel even more touched by your gesture.\u201d<\/li>\n
  3. Choosing the wrong time to give: <\/strong>Traditionally, the closing gift is something agents present to clients right after closing. But you may find they\u2019ll appreciate your gift even more if you wait. \u201cA gift can lose its impact if it\u2019s not delivered in the right place or the right time,\u201d Wendling says. If your clients just purchased or sold a house, they undoubtedly have a lot on their minds after closing. Your gift could wind up in a stack or pile that gets overlooked later on. Instead, consider giving them a gift 30 days or even 90 days after closing. It provides a perfect way to follow up and get face-to-face with them again.<\/li>\n
  4. Not giving the gift in person: <\/strong>Sending your gift in the mail or leaving it at your clients\u2019 doorstep means you\u2019ll miss a perfect excuse to deepen your relationship by checking on how they\u2019re doing. You\u2019ll also be passing up an opportunity to ask for referrals, Wendling says. Contact your clients and say: \u201cI bought a gift to thank you for your business, and I\u2019d like to drop it off in person.\u201d This is where you can weave in asking for a referral in a nurturing, kind way. You\u2019re not just asking for five friends they can connect you with. Instead, you\u2019re using the gift as a subtle way to meet with them again and throw in a \u201cby the way, if you happen to know of anyone else I can help, please send them my name.\u201d<\/li>\n
  5. Deducting too much \u2014 or not enough \u2014 on your taxes:<\/strong> The IRS allows you to deduct some of your business gift-giving, but make sure you stay within the legal limits for your deductions. Check out IRS Publication 463 for the guidelines. In general, you are allowed to deduct no more than $25 for business gifts to each person during a tax year.<\/li>\n
  6. Accidentally offending your client: <\/strong>A gift of wine would be the wrong choice for a recovering alcoholic or someone who doesn\u2019t drink due to religious reasons. Your gourmet sweets also may be a bad choice for someone with an allergy to nuts or dairy. To play it safe, Wendling recommends giving your customers a choice of three gifts. At the end of closing, say: \u201cI usually like to give my clients a little gift after they do business with me. I often do one of three things; which one would you like?\u201d By allowing them to select the gift from your three options, they may be more appreciative of it, and you don\u2019t have to fear you gave the wrong gift.<\/li>\n
  7. Not giving anything: <\/strong>\u201cYou don\u2019t have to spend a fortune,\u201d Wendling says. \u201cYou give based on what you can afford and what you think it\u2019s worth.\u201d Yet some real estate professionals are adamant that they shouldn\u2019t be expected to give a gift in return for their service. Like it or not, closing gifts have almost become an expectation among many buyers and sellers. Giving nothing could backfire and may make some clients feel snubbed, Wendling says.<\/li>\n<\/ol>\n

    Source REALTOR\u00ae Magazine<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    7 Ways Your Closing Gifts Backfire Showing thanks to your clients with a closing gift is a traditional way many real estate professionals seal up a transaction. A closing gift not only serves as a special treat to your home buyers and sellers, but it can also help make you more memorable long after a … <\/p>\n

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