HONOLULU (Hawaii News Now) - Fewer properties are for sale in our town and that is causing a frenzy of activity on the market. It is great for sellers, but frustrating for buyers. Kalama Kim, a Realtor from Coldwell Banker Pacific Properties has some innovative ideas to help buyers find the home of their dreams. Watch the video from his appearance on Sunrise and check out his notes below.
- Find properties that are not on the open market and offer on those. These are more difficult to find, but you don't compete with other buyers.
- Start with For Sale By Owners (FSBO) on Craig's list. Just be sure that you filter the search for those properties that are being sold "By Owner." You can also go to web sites like Zillow.com and look for "make me move" owners or for sale by owners.
- Sign-up with a real estate professional (Realtor). They can market to owners who to see if they are willing to sell. Real estate agents only get paid when a transaction closes. Thus, they are only willing to search unlisted properties for you if you sign a Buyer's Representation Agreement. It is a contract between you and the Brokerage saying they will be your exclusive agent. It doesn't force you to buy a property, it just says that if you do, you will have them represent you. This gives them the confidence that you won't hop from agent to agent allowing them the confidence that if they spend time and marketing money to find you the right property you will work with them and they will eventually get a commission at closing.