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Real Estate Fight Club

23
Oct 2019

Episode 04: To Give a Closing Gift or Not Give a Closing Gift?

October 23, 2019

In Episode 4 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether agents should give their clients gifts at closing. Listening to their conversation will help you find clarity on your gift-giving standards and policies. You’ll also gain valuable insight into meaningful ways to incorporate gift-giving in your most valuable client relationships.

Episode Highlights: 

  • Should you give clients a gift at closing?
  • Jenn does not give clients gifts at closing.
  • Jenn doesn’t get gifts from her accountant, her dentist, or other service providers.
  • Buying or selling a home is a business transaction.
  • Jenn feels that the excellent service she provides is itself the greater gift.
  • Gift giving at closing just doesn’t feel right to her.
  • Monica does not give gifts at closing either.
  • However, she does give her clients gifts strategically to build relationships.
  • She will take a client that can send her referrals that is also someone she can help.
  • She will demonstrate thoughtfulness to that client through gift-giving.
  • She incorporates a one-year post-close plan to stay in touch with clients.
  • Jenn asks how many people Monica thinks she can handle.
  • Monica says she can handle 36 “A” relationships.
  • Jenn maintains relationships with her clients through time spent.
  • They discuss the value of knowing someone’s love language.
  • When you know how someone receives love, then you can choose to show them love in that way.
  • What if someone does not receive love through gifts?
  • Monica distributes an All About You form to get to know clients’ preferences.
  • Monica provides examples of how to listen to clients differently throughout the transaction to maintain the relationship beyond the transaction.
  • For example, she asks thoughtful questions that generate specific responses.
  • Jenn and Monica sent out a survey asking realtors if they provide closing gifts.
  • 80% of respondents answered that yes, they give closing gifts at least sometimes.
  • Agent Lorrie Hayes says she often provides gifts for buyers. 
  • Hayes suggests buying personal gifts. Find out if they have collections. Pay attention to what they ooh and ahh over.
  • In Monica’s closing statement, she reiterates that thoughtful gift giving will enable you to strengthen and deepen relationships.
  • These relationships should be with people you know you can help too.
  • In her closing argument Jenn repeats that while she doesn’t give closing gifts, she agrees that purposeful giving can have a positive impact.

 

3 Key Points:

  1. Some realtors do not give closing gifts because they feel they’ve already provided great service in a business transaction. 
  2. Some realtors want to use gift-giving as a way to deepen and strengthen relationships.
  3. Consider developing a thoughtful gifting strategy that will help you maintain client relationships across time.

 

Resources Mentioned: