Closing Gifts: Buyer's Guide: REALTOR® Magazine

RELATED LINKS

Closing Gifts Guide

Buyer's Guide: Closing Gifts

Find a gift for your customers that leaves a lasting impression. The best part? It doesn't have to cost you a lot of money.

By Erica Christoffer October 2009

Despite tough market conditions, real estate professionals continue to view closing gifts as an important business expense—one aimed not only at generating future referrals but also honoring the clients who picked them.

"We feel it is a way of saying 'thank you' for the client putting their trust in us to find them the home that suits them and fills their needs," says Linda Wright, a real estate professional with the Hernandez Realty Group in Ajijic, Jalisco, Mexico. "We feel client loyalty is something we should show appreciation for."

The average amount spent per gift has stayed relatively steady over the past several years. Real estate professionals spend an average of $51.80 on each closing gift, according to the 2009 REALTOR^® Magazine Reader Profile Study released in June from MRI Market Solutions. In 2003, they reported spending an average of $54.20 per gift.

And despite the softening economy, 63 percent of 600 respondents said they are spending about the same on closing gifts this year compared to last year; 10 percent say they are spending more, according to an informal REALTOR^® Magazine online poll in July 2009.

But how much do you really need to spend to leave a lasting impression with your customers? Laws regarding closing gifts vary by state, with several limiting the gift amount to $25. Check with your local REALTOR^® association to be sure you're staying within your state's guidelines.

In this guide, you'll find:

You can contact the staff of REALTOR® magazine by e-mail at narpubs@realtors.org.