This economy has changed the way you attract clients-it's now by referral. These personalized gift suggestions will not cost you and arm-and-a-leg and are so memorable--that when they hear the word "mortgage," they will think of you.
Loan officers, over the last couple of years, have had to cut expenses and closing gifts (at least expensive ones) were the first to go.
Is it time to send closing gifts again? I think so! Half of your competitors are gone. The dialing-for-dollars telemarketers are gone. Gone too are the Countrywide and LendingTree television ads, touting low interest rates and quick closings.
Has this ever happened to you? You processed a loan and it went like clockwork. DU Accept/Plus. The appraisal was delivered on time and with the value. You met the tight closing date and delivered the docs to the title company. But as luck would have it, there was a glitch just before closing-and your clients/real estate agents/whoever-blamed you!
The phenomenon here is called last memory. People usually remember the last thing that happened to them. Even though there were no problems in getting the loan approved, what they will remember (and talk about with their friends) is the glitch.
That's where an awesome closing gift (making it the last memory) should be a part of your client-retention strategy.
Here is a list of 22 memorable, personalized closing gift suggestions that will not cost you an arm-and-a-leg and an ongoing reminder of you.
When it comes to closing gifts, one size does not fit all. The best gift if one where you "know" your clients and send one that matches their interests and hobbies.
Here are a couple of links to some awesome gifts.
Here's a list of gift ideas where you can shop locally (support your community) and you can usually negotiate a good price if you regularly buy from them.
Gifts for the home:
Ceramic house numbers (local hardware store)
Smoke or carbon monoxide detectors
Bird house or feeder
Gift certificate to local nursery
Picture frame with picture of their new home
Vase with locally grown flowers
Door mat
Gifts of knowledge:
Subscription to local newspaper
Museum membership
A list of "best service providers" like the dry cleaners, handyman, window washer, etc.
Magazine subscription (choose one that matches their interests)
Fun Gifts
Gift certificate to restaurant/gourmet ice cream or coffee shop
Lottery tickets
Movie tickets (with popcorn and soda coupon)
Dinner cruise
Miscellaneous Gift Suggestions
Donation in their name to local charity/Habitat for Humanity
Tickets to local theatre company or sporting event
Guest privileges at local golf, tennis or gym
Pottery by local artists
Oh, by the way, the IRS will allow you to write off the expense-up to $25 per person or $50 per couple for business-related gifts.
