Just a tip/Settlement gifts
When a property exchanges it is better to give your settlement gift then.
What I have found is if you leave it till settlement the buzzing effect of the whole event is a lot less powerful rather than when the property has just exchanged.
Also things can happen during exchange, for instance if the owner or buyer may feel that you have not spoken with them enough during this period, then you drop some wine off or a hamper or what ever gift you may give, then the gift just doesn’t have as much perceived value or meaning because they have lost that service connection with you.
A gift delivered on exchange really does have a better celebration feel.
The other thing about a gift on settlement day is they have so many other things going on that day ie: moving house, that a gift is the last thing they need.
Rather than calling it a settlement gift, we call it a house warming gift and drop if off after exchange to celebrate their very exciting up and coming move.
Try it!
There's been 5 comments so far...
Hi Mat,
What do you give as your gift?
Currently i’m giving a bottle of wine in a wine bucket with some chocolates. I usually give the vendor the gift at exchange and leave the purchasers gift in the property after the pre settlement inspection has taken place, this way it’s there when they walk in for the first time.
I usually give, a set of Sheridan towels to my purchasers as a house warming gift. To my owners I give wine in a 2 bottle wine cooler that’s leather and has Mat Steinwede/McGrath stamped on it plus a photo of their house framed (in some cases, depending on the house) so they can hang it at their next house.
Mat
Mat, I so agree with you … and to my surprise you are the first agent I have come across who does this.
I’ve only been in the industry 6 months and joined a team of 30+ agents – all of whom seem to gift at settlement (some not at all!).
The peak energy of the transaction is on the day I ring vendor and purchaser to congratulate them on the sale going unconditional … the gifts follow shortly.
For purchasers buying a home from overseas or interstate my gift awaits them at the house on settlement.
I’ve had a couple of vendors purchase intra or interstate and move some days or weeks before settlement – the first time this happened I missed them completely; that’s when i rethought the accepted wisdom and changed my stratagy.
A question: What do you do or what do you gift when both vendor and purchaser are distant and will not be coming to the property at all?
The first time this happened I gave no gifts to either but still feel bad about that – the transaction didn’t feel complete.
Any suggestions?
Eve
Hey Eve,
I have just etched out a list of 10 things to give owners and buyers that I can choose from. What I found before is whether they are away owners or not I was either giving them a gift that wasn’t suitable or scrambling around the day before settlement deciding what to give them if I wanted to get them something different.
So to answer your question there are a few things I can send them but away owners I think appreciate great service and communication rather than a gift. Because they are not there the actual process means more to them. For instance when dealing with an interstate or overseas owner constantly emailing them as you are leading up to settlement reporting that things are on track (after following up all necessary people) they find very helpful because they know things are on track and they don’t need to do anything, emailing them snaps of each room for pre-settlement so they feel involved, calling or emailing them the morning of settlement confirming the time it will happen, calling them when it happens and then the next day just to check in is much more powerful than the gift. Then if you want you can send flowers or something similar as a nice unexpected touch to their home (where ever they live) can finish it off nicely. I just sold a home to a lady who lives in Africa and I feel the most important things to Lisa were just how quick I responded to her emails at all hours of the night, how quick I returned her call and how well my team knew what was going on when I wasn’t there. So in my opinion when dealing with away owners focusing even more intently on the absolute fine details of the process is the most powerful and memorable thing you can do as their agent. If you can master this you will create away owner raving fans every time!
Thanks Mat,
That makes good sense.
Thanks so much for your time and input,
Eve
Leave a Comment