The Cycle of Gratitude

The right settlement gifts could revolutionise your real estate business.

You just closed another sale. You are a respected realtor in the local community and your agency is at the top of its game. Yet, you spend thousands of dollars on marketing and don’t see any return. You don’t notice an increase of first time clients or return customers. What are you doing wrong? It could all come down to closing the gifts give to buyers and sellers.

Here at Luxury Hampers, we know the power of gift-giving. It produces gratitude which then directly translates into loyalty. This loyalty is the key to generating both direct business and referrals. Today, we share our insider’s knowledge.

How to Make a Happy Client

As a realtor, you know how complicated someone's decision to buy or sell can be. You probably also know that one of the most significant factors in their decision is you. A client’s relationship with their realtor is responsible for a large part in decision making. A committed, friendly, generous realtor produces sales. So, it makes sense that this equation is also important in whether or not a client chooses to use your services again or refer your business to someone else. How do you ensure a client walks away happy? According to a report by the University of Washington, here are the top five emotions that contribute to overall client satisfaction:

  1. The impression that the realtor is invested and committed to the process.
  2. Personal affection for the realtor.
  3. Feeling that the realtor understands the client’s personal tastes and interests.
  4. Feelings of gratitude for the success of the purchase or sale.
  5. An impression that the realtor has committed large amounts of their personal time to the process.

The perfect settlement or closing gift can produce all of these emotions. Feelings of commitment, personal affection and loyalty can be encapsulated in a generous and personal gift from the realtor. That’s why Luxury Hampers exists - because we know that the key to your success could be the perfect hamper.

Gratitude = Trust and Commitment

Several studies, including one in the Journal of Marketing, have indicated that a gift from a realtor could be the key to ensuring return business. There is a theory called ‘the cycle of gratitude’ which sums up this phenomenon. Essentially, when a business is overtly generous to a client, out of free will and not policy, then a client feels the need to be generous in return. So, when you give a beautiful gift to a buyer or seller, that breeds feelings of gratitude and commitment to your business. That then subconsciously encourages clients to both return to your agency and refer their friends and family to you.

The Journal of Marketing conducted a study of more than 38,000 business to consumer relationships. They found that generosity on the company’s part directly fed into generous reviews and recommendations from the customers. Loyalty is the primary emotion which produces future sales and gratitude plays a major part of achieving this. By giving great gifts, you can ensure great future prospects.

Sphere of Influence

Sales is a ‘people business’. It requires having real connections with clients. This why it comes to no surprise to us that MOXI Realtors recent study found that two thirds of a real estate agent’s business comes from their sphere of influence. It is not internet marketing, email lists or even community reputation that determines the success of your agency. It is the relationships you have with the people around you - friends, family and past clients. These people then recommend you to their spheres of influence and your contacts grow. So, investing in these people is vitally important. Showing them that they are appreciated is the best marketing move you can make. By choosing the perfect gift for clients when they buy or sell, you are guaranteeing a wider and more healthy sphere of influence. The $100 you spend on a gift can translate into thousands of dollars in sales. Let’s say, on average you make $5000 per sale. You sell about 80 properties per year. Even if your ROI from closing gifts was only 7% - that is another $28,000 in your pocket. They are pretty good statistics. What could they do for your career?

The Ultimate Gift

Realtor Magazine conducted a survey which found that 77% of its readers have given closing gifts. But, it is not enough to give any gift. The Global Advertising Specialty Impressions Study did some research into what Australian home buyers and sellers love in a realtor gift, here’s what they found:

  • 80% of clients said that they kept the gift because it was useful
  • 26% of clients kept the gift because it was attractive
  • Only 5% of clients kept gifts which were simply a point of reference, such as a branded key ring.

This shows us that choosing the right gift is more complicated than it looks. It needs to be personal, generous and practical. It needs to be something that the home buyer or vendor will feel proud to have in their home. Something sentimental, attractive and useful - all at the same time. This is the problem Luxury Hampers seeks to solve. We are the solution to this conundrum. Our hampers are everything a good closing gift needs to be. With luxurious household items and other goodies, your clients won’t be able to keep their hands off our hampers. If you care about the success of your real estate business, invest in proper gifts.

Luxurious, Designer, Unique.

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