If you cringe every time someone uses the term, “past clients,” you’re in excellent company. 

In a recent BAM InterviewByron Lazine and Mosaik founder Sheila Reddy agreed on the importance of being lifelong advisors to clients. Because for today’s real estate professional, “client retention is going to be everything.” 

It’s no secret that looming policy changes within the real estate industry will impact the role of the real estate agent. Especially with regard to client satisfaction and retention.

Here, we’re breaking it down by focusing on three things clients want from their agents in today’s environment. 

Watch the full podcast below to enjoy the whole conversation. And read on for the highlights on agent strategy and how to provide the ultimate client experience. 

Client experience: 3 things clients want from their agents

In today’s environment, serving your client involves more than filling out paperwork, opening doors, making phone calls, and negotiating on the client’s behalf. 

As Sheila put it, “It’s moving from a transaction-oriented mindset to a lifelong advisor type of mindset.” 

For agents, I think it’s going to be less about ‘Did the deal actually close?’ but how was the client experience through that process? How much value did you fundamentally deliver to the client? Do they feel like they got their money’s worth, really?

Sheila Reddy

Founder of Mosaik

The lifelong advisor doesn’t use the word “past” to describe any of their clients. This is why regular value-based follow-up is crucial for today’s real estate agent. 

Clients you’ve worked with before know not only what you can do for them but also what it’s like to work with you to buy or sell a home. But that in itself doesn’t guarantee they’ll think of you first the next time they’re motivated to transact. 

As Sheila laid out during the interview, there are three things clients want from you as an agent to see you as a professional they’d want to do business with more than once: 

  1. Transparency
  2. Personalization
  3. Curation of information

The lifelong advisor treats each client the way an investment professional manages a client’s portfolio. They’re regularly providing value in ways that keep them top of mind with the client. 

That value could take many forms, including— 

  • A guide to local home-related vendors and service providers
  • Regular updates on their home’s (estimated) market value
  • Tips on how to save money on property taxes, insurance, home repairs, etc. 

So, what can you do to deliver the kind of client experience that will set you apart in your market? And how much of the work involved in providing that experience can be automated?

Everything we build at Mosaik is largely with personalization in mind. Because I think that’s a big factor in delivering value in a way that feels meaningful to the client…Timing is important, right? ‘When is your insurance policy renewing?’ That’s going to have a lot more value to you than an email you get six months before it even happens.

Then it’s also, from the agent’s side, automating that and then tracking that in a way where the agent can jump in and be of support….It’s also building those connections where, when needed, the agent can carry that conversation forward in a meaningful way. And if not needed, there’s still something of value that’s been delivered to the client—in a way that’s meaningful to them, at a time that’s meaningful to them, with the agent top of mind.

Sheila Reddy

Founder of Mosaik

Transparency in the agent-client relationship

More and more, today’s homebuyers and homeowners are no longer content to remain blissfully ignorant of the process their real estate agent is navigating on their behalf. 

Fast forward 10 years, the client’s going to want more insight into the agent side of the business… as you have some boomers aging out and you have Gen Z aging into the market, it’s only going to become more important that our clients are seeing more and more of the entire process.

Byron Lazine

The more your client feels like a partner in the process—someone whose input you value and remember—the stronger the agent-client relationship has the potential to be. 

In today’s shifting environment, where it seems every week brings another commission lawsuit filed by home sellers (or buyers), you can’t afford, as an agent, to be all about the transaction details, with little if any interest in building a relationship with your client. 

I think what we’re going to see—and what we’re seeing in general, across multiple industries—really demand for three things: transparency, personalization, and curation of information. Transparency has been…the name of the game for many of the big tech behemoths in the world. When you think about Google, Zillow, all of these companies that have really just made an impact financially on how things are done…it’s democratizing access to information that you previously had to go to someone for.

Sheila Reddy

Founder of Mosaik

This is why the next two priorities—personalization and curation of information—are essential to providing the kind of transparency clients have come to expect. 

Transparency will always be something people want. But they’re going to look more for curation and personalization. So, not just ‘Give me all the information,’ but ‘What is the best information of all that is available? What is the most accurate? What is the most reputable? Give me that information and then personalize it to me. How is that information relevant to what my specific need is right now?

Sheila Reddy

Founder of Mosaik

In Byron’s words, “Don’t waste my time by giving me 100%. Give me the 30% I need.” 

Personalization at scale—the #1 challenge for today’s service-oriented real estate agent

Byron asked Sheila to expand on the reason why this “client portfolio” approach hasn’t been the norm until fairly recently. And what it ultimately comes down to is the difficulty of personalization at scale—especially before we had the kind of technology Mosaik offers. 

Personalization has been very hard to do at scale for any industry without good technology to back it up. When you think about the different types of client retention campaigns that are going out from Mosaik….that degree of personalization, to do on a consistent basis…across a large number of clients, it almost becomes impossible at certain levels of scale to do manually.

Sheila Reddy

Founder of Mosaik

Byron pointed out that, before those recent advancements, the only way to scale was by having two or three assistants working off Excel spreadsheets and consistently following up with clients to keep your real estate brand top of mind. 

In other words, you could only scale by adding more people to your team. And that, as Sheila pointed out, comes with a cost, with the potential for friction, and with a certain degree of risk. Because some folks will be good at their work and consistent with it. But some will not. 

As Byron added, it’s not just you, as the agent, who needs to do more with less; it’s also the people on your team. Everyone in your business needs to be involved in scaling personalization for the entire lifetime of every client portfolio. 

So, what does that look like when it comes to providing the kind of information each client will find both timely and meaningful? 

Curation of information: clients want to see the process through the agent’s eyes

Personalization and curation go hand in hand. Curating information for each client means putting together the information they’ll find most helpful and relevant to their situation and needs. 

Curation of (relevant) information is a product of personalization. And obviously, the better you are at scaling personalization, the more people you can reach on a consistent basis with curated content. 

There’s more than one way to deliver that content, too: 

  • A personalized one-to-one video email with market value updates, neighborhood news, and tips relevant to the season or to your client’s current plans (that you know of)
  • An annual printed and mailed magazine with curated information and tips
  • Annual or quarterly invitations to curated client events

Another one of the challenges you’ll face when it comes to delivering the optimal client experience is integration. If the tech tools and platforms you use to serve your clients don’t speak to each other, you’ll spend more time on a daily basis cross-referencing and transferring information from one to another just to keep up. 

That’s time better spent delivering value and connecting with your clients. 

Tech solutions that pull everything together, saving you time and countless headaches, will separate you from agents in your market who are busy putting out one fire after another. 

What it will really take for agents to succeed in today’s environment

Here’s how Sheila summed up the situation facing today’s real estate agents, particularly those who are determined to deliver the best possible client experience: 

I think there are some gaps to be closed on the transparency side for agents, in terms of the experience they’re offering to clients. But then I also think how to get ahead is to focus on that curation and personalization. And some of that can be automated. Some of that can be done through technology. And some of that just requires the expertise of an agent; it requires that human touch. 

So where you can implement technology to scale and gain efficiency—so that you can focus on those things that require your personal involvement, analysis, and knowledge—that’s really where I think the magic is going to happen in a lot of people’s businesses.

Sheila Reddy

Founder of Mosaik

Watch the whole conversation for more insights from Sheila Reddy. And click here to learn more about Mosaik and how this “digital sidekick” can help you scale your business. Use the code “bam200” to save $200 on the one-time implementation fee.