- What is a Real Estate Agent Closing Gift?
- How Much Do Agents Spend on Closing Gifts?
- Can You Deduct Closing Gifts on Your Taxes?
- One: Gift Baskets
- Two: Gift Certificates
- Three: Home Decor
- Four: Keychains and Keepsakes
- Five: Kitchenware
- Six: Books
- Seven: Tickets
- Eight: Sports Memorabilia
- Ten: Professional Services
- Eleven: Yard Games
- Twelve: Wine and a Wine Opener Gift Set
- Thirteen: Coffee Bar Organizer
There are many closing gifts that real estate agents can choose from when they are looking to thank their clients for their business. While some people may be tempted to choose a gift that is overly extravagant or expensive, it is essential to select something personal that will make an impression and will be appreciated by the recipients. Here are 13 ideas for real estate agent closing gifts.
What is a Real Estate Agent Closing Gift?
A real estate agent closing gift is a physical token of appreciation that a real estate agent gives to their client at the close of escrow, congratulating them on purchasing or selling their home.
It is customary for the agent to thank their clients for their business and wish them well in their new home. While not required, it is considered good etiquette and a professional gesture.
Closing gifts can range from small, personal items such as keychain ornaments to larger items such as gift baskets or engraved cutting boards. The type of closing gift given is usually based on the closeness of the relationship between you and your client.
Regardless of the size or cost of the gift, the gesture itself is what is most important. Giving a closing gift is a great way to create a lasting impression and build relationships that will last long after the home has been sold.
How Much Do Agents Spend on Closing Gifts?
Typically, the amount an agent spends on closing gifts ranges from 1-5% of the total commission earned from each sale.
For example, if an agent closes a sale worth $100,000 and earns a 5% commission on that sale, they may spend $500-$2,500 on a closing gift for the client. This spending could include monetary gifts such as prepaid credit cards or gift cards for local restaurants or stores to more personalized items like framed photos or housewarming plants.
Ultimately, this is up to each agent’s discretion, depending on what they feel best reflects their relationship with the client and enhances the overall experience of buying or selling a home.
However, regardless of what they choose to give as a closing gift, it is always vital for real estate agents to remember that this is about celebrating and commemorating a significant event with someone who means a great deal to them. So no matter what kind of gift is given, it should express appreciation, gratitude, and respect for those who helped make the sale happen.
Can You Deduct Closing Gifts on Your Taxes?
In most cases, agents can deduct closing gifts from their taxes.
Generally speaking, any monetary gift given in exchange for services provided is considered a tax-deductible business expense. This is true of all kinds of gifts, whether given at the start of a business endeavor or as part of an ongoing professional relationship. However, there may be some exceptions to this rule depending on the circumstance and the type of gift being offered.
For example, if you give a one-time gift to your clients valued at over a certain amount, or if you receive payment from another source for the same purpose, then your deduction may not be valid. It’s important to carefully review the rules and regulations surrounding this issue before trying to claim any closing gift on your taxes.
One: Gift Baskets
Gift baskets are a great way to show your clients how much you appreciate their business. They can be customized to include various items that will be useful to the new homeowners, such as cleaning supplies, tools, and gardening equipment.
You can also include a few items that will help them to relax and enjoy their new homes, such as scented candles, gourmet food, and fine wine.
By putting together a thoughtful gift basket, you can show your clients that you truly value their business.
Two: Gift Certificates
When it comes to closing gifts for real estate agents and their clients, gift certificates can be an excellent option. By giving a gift certificate to a home improvement store or retailer, the agent shows that they are thinking about their client’s needs and wants even after the transaction is finished.
Gift certificates offer the buyer a lot of flexibility and choice in spending the money. For example, some buyers might enjoy splurging on new appliances or furniture, while others may prefer to invest in their home’s curb appeal with landscaping services or outdoor storage solutions.
Overall, when choosing practical yet thoughtful gifts for homebuyers moving into their homes, nothing quite says “congratulations” like a well-chosen gift certificate.
Three: Home Decor
When it comes to home decor, there are many options that are both impressive and appropriate for new homeowners.
One popular choice is decorative photo frames, which can be customized with photos of the new family’s new home or personalized with details such as names and dates.
Another great choice is artwork, ranging from high-end prints to inexpensive posters depending on the homeowner’s style preference.
Other popular options include accent pillows and throws, which are a subtle but impactful way to incorporate some personality into an otherwise minimalist space.
Ultimately, home decor makes an excellent closing gift because it shows true appreciation for their clients’ new investment and adds aesthetic appeal and comfort to the home.
Four: Keychains and Keepsakes
Keychains and keepsakes are a great way to show your clients that you appreciate their business. They also make great closing gifts, as they are practical and sentimental.
For new homeowners, keychains are a practical way to keep track of their keys and serve as a reminder of their new home. For example, you could give the new homeowners a keychain with their new address or their closing date.
On the other hand, Keepsakes are a more sentimental way to commemorate the purchase of a new home. For example, good keepsake gifts include items with the homeowners’ initials engraved on them.
By giving a keychain or keepsake as a closing gift, you can show your clients that you genuinely appreciate their business and are thinking about them long after the sale is complete.
New homeowners will appreciate practical items like cookware, bakeware, and utensils. Think engraved cutting boards, knives, glassware, or coasters. Kitchenware makes a great closing gift because it is both useful and impressionable.
New homeowners will also be impressed by well-crafted pieces that reflect the style of their new home. For example, a set of copper pots would be a perfect addition to a French country kitchen, while an Italian-style pasta pot would be ideal for a contemporary kitchen with clean lines.
Consider a custom charcuterie set. You could also go with an outdoor motif and gift your clients a personalized grilling set for their outdoor barbecue.
Books make excellent closing gifts. They are useful and practical, but they also convey a sense of thoughtfulness and professionalism to your clients.
Depending on the book’s subject matter, it can be a great way to help new homeowners learn more about maintaining their property or help sellers brush up on some decorating tips.
Some good book ideas include gardening guides, cookbooks featuring local or regional recipes, or even books about investment opportunities in real estate.
Tickets make great closing gifts for your clients who have recently bought or sold a home.
For example, you could get them tickets to a play or concert that is happening in their new town, or you could get them tickets to a sports game of one of the local teams. You could also get them tickets to a museum or art gallery that they may be interested in.
Eight: Sports Memorabilia
Technology is an essential part of just about every aspect of life in today’s digital age. It surrounds people in their homes, at work, and on the go and keeps them connected with friends and family, and helps them stay informed about the world around them.
As a real estate professional, you understand the importance of staying up-to-date with new trends and technologies in your field. That’s why a great closing gift for your clients who recently bought or sold a home is something that utilizes technology to help them stay on top of things in their new space.
Some examples of great tech gifts for home buyers or sellers include:
- Smart thermostats that sync with their cell phones or tablets to monitor and control their HVAC systems right from the comfort of their couch
- Portable Bluetooth speakers that they can use to listen to music
- Robot vacuums
- Virtual personal assistant devices like Amazon Echo or Google Home that they can interact with via voice commands to play music, set reminders, turn lights on/off around the house, order groceries online ahead of time, or control their smart home appliances
Ten: Professional Services
There is no better way to show your appreciation to clients who have recently been involved in a home purchase or sale than with professional services. These services can include everything from home cleaning, remodeling, and renovation to landscaping and interior design consultations.
Professional services make great closing gifts, but they are also efficient for helping your clients settle into their new homes.
Whether it’s remodeling their kitchen or simply having the windows professionally cleaned, these thoughtful gifts are sure to put a smile on your clients’ faces and help them feel more connected to the neighborhood where they have just started a new chapter in their lives.
Eleven: Yard Games
Yard games are a great way to show your clients how much you appreciate their business. They’re also a fun way to get everyone in the neighborhood involved in the festivities. Here are a few examples of yard games that would make great closing gifts:
Cornhole: This classic game is perfect for backyard barbecues and tailgates. It’s easy to set up and can be played by people of all ages.
KanJam: Another excellent game for the outdoors, KanJam, is a fast-paced team sport perfect for parties and picnics.
Yard Dice: A simple yet fun game, yard dice is perfect for any gathering. It’s easy to learn and can be played with any number of people.
Twelve: Wine and a Wine Opener Gift Set
Wine is a popular choice for many people as a closing gift for their real estate clients, and a wine opener gift set is the perfect way to go.
These sets typically include everything needed to enjoy a delicious glass of wine, including bottles of your clients’ favorite varietals, elegant glasses, and sleek corkscrews or other openers. Plus, the attractive presentation of these sets makes them ideal for reusing and displaying on shelves, tables, or countertops.
Thirteen: Coffee Bar Organizer
A coffee bar organizer would make an excellent closing gift for the clients who enjoy their morning cup of joe.
These organizers usually include everything needed to set up a mini coffee bar in your clients’ homes, including mugs, espresso makers, accessories like coasters and stirring spoons, gourmet coffees, and other beverages, as well as fun adornments like fun signs and artwork. These gifts are practical and thoughtful, but they also make fantastic additions to any kitchen or home bar.