Closing Gifts: Why they work and how to do them right.

As an astute real estate professional, you understand that a successful closing is more than just a final step in a transaction. It’s the beginning of a long-term relationship with your client. One of the best ways to solidify this bond is with a thoughtful closing gift.

Do closing gifts work?

Have you ever wondered why gifting has been an integral part of human interaction for centuries? The answer is in the power of reciprocity, the social norm that obliges us to return a favour when one is bestowed upon us. Business relationships are no different. Reciprocity can lead to an increase in customer loyalty. Giving a gift naturally leads to customers feeling obligated to reciprocate, usually through repeat business and referrals.

But let's delve deeper into the psychology of gifting. 83% of customers who receive a gift after purchase feel a closer relationship to the business and 90% indicate it increased their likelihood of a future engagement with that business. That’s a powerful statement on the impact of a well-considered gift. This is especially true for our real estate agent customers considering 88% of people say they would use their realtor again but only 12% actually do! If you’re not using every tool in your arsenal to keep in contact, guess which group you are part of.

What is the best type of closing gift?

However, the type of gift you offer is equally important. A gift basket might be nice, but does it offer the flexibility your customers crave? According to Coinstar, 68% of consumers would rather receive a cash gift than a physical present - even from friends/family let alone a business, showing a clear preference for the flexibility that flexible spending gifts provide. Highly personalized gifts make the sender feel like they’re showing the recipient they know them, but in reality they are missing the mark. 

But we get it, whatever the stats say, personalizing the gift is hard to give up. It feels good to illustrate that you listened and got to know them. Now, imagine combining the flexibility of a cash gift with a personal touch of local flair. That's exactly what Locorum does. Locorum allows you to personalize cash gifts with your own local business recommendations. And the best part? The gift can be used anywhere, not just at the recommended businesses. This versatility is a big hit, as it offers recipients the flexibility of cash with a warm, personal touch.

Whether you’re a realtor, builder or mortgage broker you can use Locorum to align yourself with the local community and in 90 seconds or less, issue every customer a flexible closing gift.

Closing gifts for realtors, mortgage brokers and residential developers.

Here’s how you can use Locorum for your closing gifts in less than a minute:

1. Login to your Locorum account.
2. Go to Gift Rewards.
3. Fill out the personalized email subject, message, and personalize the gift with local business recommendations (you can add any business you want to recommend).
4. Click send, and Locorum handles everything else.
5. Our automated marketing systems nurture referrals from your recipient network 

No more fussing over what to get or how to deliver it. With Locorum, you can ensure that every client receives a closing gift that's meaningful and convenient for them. They can use it wherever they want, whenever they want.

And the best part? Every Gift Rewards recipient is instantly added to your referral network when they accept the gift. They’re then automatically nurtured by your Locorum marketing automations without you or your team lifting a finger. This multi-channel marketing approach keeps you top-of-mind, driving referrals and repeat business. 

In an age where customer loyalty is golden, closing gifts are more than just a token of appreciation. With Locorum, they’re an investment in future business.