They help sell, lend, buy in 1 stop
Some Valley real estate agents are on the cusp of a new trend to simplify the process of buying a home, selling one, securing loans and setting up mortgages.
They are becoming “hybrid agents,” people who double as agents and loan officers.
Jim Decker, an associate broker and agent at West USA Realty in Peoria, decided to venture into lending as a way to become more versatile and better inform his clients.
“I was tired of some of my clients getting bad deals from mortgage companies,” Decker said. “It’s a huge step in buying a home, and if I can give them the answers they need, the whole transaction goes smoother.”
To learn the lending side of the industry, Decker teamed up with JSSmith Mortgage, a Scottsdale-based company that offers a training program to help an agent like Decker make the transition to a hybrid agent.
Once accepted into training, an agent is paired with seasoned loan officer at JSSmith Mortgage.
The trainer helps the agent work through several loan transactions with clients.
Jeffrey Smith, president of JSSmith Mortgage, created the program as a way to help agents streamline the sales process, whether customers are looking to buy, sell or refinance.
“All of the clients I’ve talked to want that simplification,” said Smith, who has worked in the mortgage industry for 25 years. “With hybrid agents, the transaction becomes a seamless process.”
For the past 15 years, Smith has set up more than 100 in-house mortgage companies for real estate brokerages and builders around the western United States.
“The challenge in making those work is the Realtors are independent contractors and not necessarily motivated to use the in-house lender,” Smith said. “The hybrid agent takes it one step further.”
Of about 70,000 licensed agents in the state, a few hundred double as loan officers, Smith said.
“This seems like a brand new idea, but in a decade, it will be everyday practice,” he said. “Some people in the industry are fighting this change, but it makes sense if you can simplify the process.”
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