Hot Housing Market Attracts More Real Estate Agents
Investors, Real Estate Agents Find Big Money In Flurry Of Deals
POSTED: 5:56 pm HST May 4, 2005
UPDATED: 11:19 am HST May 5, 2005
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HONOLULU -- The red-hot housing market in Hawaii may have put many renters and house hunters in a real bind. However, it also has created opportunity for others to make money -- in some cases, big money.Just one indication of how the market is attracting people is a look at the number of members the Honolulu Board of Realtors has seen. The number has jumped by 2,000 in the last couple of years. There are now more than 5,000 members.
KITV 4 News reporter Paul Udell has the story of one real estate agent and her client who see huge opportunity in the market.A $7 million home is being built with a spectacular view off Portlock. Across the site where that home is going up is a very busy Realtor selling it."(I'm) extremely busy. An average day? In the office probably by 7 a.m., don't return home probably until 8:30 or 9 p.m. and that's seven days a week. Sundays, of course, are filled with open houses in the afternoon. Generally, daily in the morning, I'll start with the computer, see what the new listings are available for the day, then call your clients who might be looking," Realtor Lori Ferrell said.
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Even during the interview, she received calls about a new deal. What were her sales like last year?"(I) made $10 million. Not bad for my second year," Ferrell said laughing.She said she loves the market, partly because she doesn't know what the market is like in tough times.The builder of the Portlock home tore down the existing structure to make way for a five-bedroom, 5½ bathroom house. He said there is money to be made in Hawaii's housing market."Oh absolutely, absolutely. There's a good profit to be made. We know what our costs are gong to be. We know what we paid for the land. We have a good idea what it will take to build the house. And if Lori does her job, we'll make a good profit on it," house builder Bruce Robin said.Here are some tips from experts when looking for a realtor:
Find one with whom you are comfortable. Don't be hesitant to ask for references. Ask about their experience, what types homes they've sold, where, and in what price category. Don't mistake personality for professionalism. Check with state regulators about complaints. However, remember, a complaint is not necessarily the truth.
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Watch News Report Even during the interview, she received calls about a new deal. What were her sales like last year?"(I) made $10 million. Not bad for my second year," Ferrell said laughing.She said she loves the market, partly because she doesn't know what the market is like in tough times.The builder of the Portlock home tore down the existing structure to make way for a five-bedroom, 5½ bathroom house. He said there is money to be made in Hawaii's housing market."Oh absolutely, absolutely. There's a good profit to be made. We know what our costs are gong to be. We know what we paid for the land. We have a good idea what it will take to build the house. And if Lori does her job, we'll make a good profit on it," house builder Bruce Robin said.Here are some tips from experts when looking for a realtor:
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