Settlement gifts – the secret sauce to more real estate listings
We know that referral marketing is critically important for any real estate firm. In fact, in a recent survey of over 400 real estate businesses, 83% claimed client referrals as the most effective marketing tool for securing new real estate listings. In fact, they are up to 4x more effective than any other marketing tool.
That can’t be ignored. So, how do you create more client referrals?
FACT: Neuroscience researchers discovered clients recall two key moments when it comes to working with their real estate agents.
1) The ‘peak moment’ = this is often when the sale happens. That big moment when you get to say ‘congratulations – we have a deal’.
2) The ‘last interaction’ = this is most often when you deliver your settlement gift as a wrap up to the work.
If these two moments are the most recalled by a client, focusing on a settlement gift (to make you stand and be remembered) can be a secret sauce to increase future business referral. It’s just smart business.
We’ve taken this underlying theory to the next level and designed a complete, game changing gifting service to take advantage of this and generate more listings for real estate businesses.
We follow 10 strategies in our settlement gift service.
- Always give useful gifts
Why? People appreciate gifts that don’t add to the clutter, that they can use and enjoy frequently – even more so when it’s something they wouldn’t ordinarily buy for themselves. We gift everyday, luxury items.
- No branded gifts
Why? If it’s branded – it’s just promotion. It has to be personalised and all about them to be an authentic gift. Think about it. When do use corporate branded gifts for your every day? (see rule#1).
- Don’t gift alcohol (unless you really know them)
Why? It’s just too risky. Have they had a bad relationship with alcohol in the past? Do you know their likes / dislikes? Do they have any cultural or religious sensitivities with alcohol?
- Send a ‘gift story’, not a single item
Why? Gifts sent as a themed ‘gift story’ (i.e. multiple related gifts) really increase the likelihood they will love. and talk about it. It confirms you’ve been super-personal and thoughtful.
- Time it to perfection & deliver it to an audience
Why? If it’s expected, it’s transactional. We recommend to let the dust settle after contracts have exchanged, then deliver a surprise & delight moment shortly after. We also recommend considering delivering to their work place so work colleagues also witness your generosity.
- Include a handwritten card, always
Why? A card with a personal, handwritten message is more meaningful than you think and has a lasting connection. It shows you have spent your time (our most precious resource) on them.
- Only gift with quality items
Why? If you’re authentic & expect absolutely nothing in return, a quality gift will last and you’ll be recalled for longer. Be ridiculously generous.
- Don’t send ‘one use’ gifts
Why? We’re talking about hampers, food or flowers. Whilst lovely, they’re a wasted opportunity to leave a lasting, repeat impression (see rule#1).
- Never send gift / store cards
Why? Frankly, it’s lazy, impersonal and sends the wrong message. If it looks like you’re ticking the “I’ve sent a client gift” box, it’s not relationship building.
- Personalise – choose the right gift for the right client
Why? We’re all different. You’ll get it wrong for some if you’re sending the same gift to everyone. Give a gift they would love, not what you have pre-purchased.
By following these simple strategies, your settlement gift can find a place in the home and hearts of your clients.
In today’s real estate market – what’s one more listing worth to your business? Find out more about our strategic settlement gift service here and grow your listings.