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Mosaik, a real estate experience solution that earned five stars in a June technology review, has rolled out one of its more inventive features as a stand-alone product.
Collaborative, AI-backed home search, the idea that buyers, their friends and family and their agents can look and consider options in unison based on a “wishlist” instead of traditional filter-based search, is now available to enterprise accounts, according to a June 6 announcement.
The latter can lead to viable home options being hidden from buyers because of a very slight variation in budget, location or even interior features, for example.
“With Mosaik’s search capabilities, agents are better equipped to provide their clients with personalized experiences at scale,” Mosaik CEO Sheila Reddy said in a statement. Reddy also said that search at this level of personalization can motivate clients to transition away from public portals and toward greater collaboration with their agents.
Mosaik also added new Insights, which are alerts that highlight user behaviors within the software, which they may not be aware are changing. As it relates to search, Mosaik will alert the buyer and agent when they’re search is trending away from initially stated parameters, such as location, school district or property type.
Search using filters is technologically and conceptually antiquated, a clinical, guardrailed approach to an emotional process. It merely fuels a database query using static figures, leaving no room for flexibility.
Agents representing buyers often attest to the challenges of a buyer’s shifting needs as they tour homes. Mosaik’s search functionality can greatly reduce that uncertainty by proactively tackling the emotional component of looking for homes. Most buyers would be willing to pay a little more if the backyard was fenced, or the views were different. Filtering a home search by maximum price fails to account for those moving targets.
Leveraging computer vision, a form of artificial intelligence, as well as embedded location data, Mosaik tracks wishlist items and property images viewed during a search and uses that information to pull additional homes from a partner MLS. If a buyer and their collaborators continue to like homes with large trees in the backyard, Mosaik will crawl the market and suggest similar homes, regardless of price or size or neighborhood. It also allows users to compare homes directly by kitchen, primary bedroom or exterior amenities. This is a “north star” example of how AI can benefit the industry.
“Personalized digital experiences continue to become more prevalent in nearly every consumer-facing industry and the consumer expectation of personalization continues to grow by the day,” Mosaik said.
The company cited a study by McKinsey that stated businesses that excel at personalization generate 40 percent more revenue and over 70 percent of consumers both expect personalization and are frustrated when they don’t get it.
Mosaik’s full product includes much more than search, including a full array of relationship-centered and workflow functions to ensure agent and client are in lockstep at each stage of a transaction, starting with search. It offers transaction oversight with templated action item lists, client outreach campaigns, tour arrangement and helps agents track their business activity, among other features.
