Enter, The Hybrid Agent

I originally heard about the Hybrid Agent from Trevor Mauch, the founder of Carrot. Years ago he saw a new trend coming down the line that Realtors and Wholesalers alike are ignoring or missing entirely. This article is going to outline a couple of the core concepts that make up the model of the Hybrid Agent. As it's an ever-evolving shift, expect future articles.

Client Needs Above All Else

I recently read a post here on BP that discussed how getting a seller the highest price is always the best solution. Now, I'm not naive to the fact that a majority of people want as much money as they can get when they sell their house, but this is not always the case. That is... unless that Realtor has a "commission focus"...

At times a client may be in a severely negative financial position like foreclosure or inheriting a property that has a mortgage they can't afford. In times like these, other solutions may be more viable than the "out of the box" solution or listing it on the open market.

One Solution Doesn't Fit All

Realtors know how to do one thing very well: Market properties on the MLS for top dollar and earn a commission. Wholesalers know how to do one thing well: Negotiate purchase contracts (usually at lower-than-market prices) and assign those agreements for a profit. Those two structures will solve a majority of clients' real estate problems, but what if they're elderly and wanted income instead of cash? What if they're in foreclosure but want to stay in their house? Is the Realtor privy to deal structures that create win-win-win opportunities? Are they knowledgable and patient enough to earn a profit from an alternative stream of income, or do they need the "quick fix" a commission or assignment provides?

These are pertinent questions, and speaking of questions I'd like to cover the most important part of the Hybrid Agent's job. Ask a lot of questions regarding your client's situation & needs. Dig deep and don't be afraid to ask them how much they'd like to walk away with after their house sells. Doing so not only helps you better serve them, but it also helps the client remain more objective throughout the home selling process which keeps emotions from spiking. "When emotions go up, intelligence goes down." - Robert T. Kiyosaki 

Continuing Education

The Hybrid Agent makes a lifetime study of ways to can creatively solve real estate problems. Their toolbox may contain options like Seller Financing, Land Leases, Subject-To Purchases, Lease Options, and many more. The more advanced Hybrid Agent can use multiple tools simultaneously to solve even more complex problems. 

Sources of this knowledge are widespread and can come from many different sources. These can be more challenging to find so the Hybrid Agent is constantly searching for mentors, courses, and seminars that can teach them new strategies. Relationship building with relevant attorneys is also a key focus of the Hybrid Agent, as they can refer them to clients and consult with them as needed.

If you're keeping your eyes on the market, you'll begin to see these shifts being made in the Real Estate Profession. If you're not, then keep doing what you're doing! Less competition is great for us!