** Editor’s note: Currently the Hawaii Team knows of several off-market properties on Kohala Coast and in all your favorite resorts. If you want more information, reach out today at the contact information at the bottom of this article. **
One of the things that sets us apart at The Hawaii Team is our ability to find off market properties. These days it seems as though buyers are really drawn to off market properties and I understand why. They definitely have some advantages, and they also have some disadvantages.
One of the reasons people turn to off market properties is the current inventory problem that plagues the real estate market across the entire United States. The inventory problem is exacerbated times 10 here on the island because we don’t have new home builders to fill the inventory gap. In order to buy a home here, you must wait for someone to sell a home. There are just no new home developments that can ease the pain. In addition, you have to understand that on our island a very active day would be nine new listings. It’s not unusual for a buyer to wait up to three or four years for a property that matches their criteria to show up in the MLS.
This being the case, we at The Hawaii Team have become masters at finding off market properties. We do this primarily through our extensive database, that we have cultivated over many years. I believe we are the only real estate team on the west side of the island that has the entire database for all six resorts from Kohanaiki north to Mauna Kea. That’s right, we know every single person that lives in every house in those six resorts. In total there are approximately 3,000 homes in those six resorts and 97% of those are second homes. Our database includes the names and addresses of all the people who own those homes. And it’s not just enough to have the subject property address. You also need to have the owner’s mailing address back on the mainland. We have their mobile numbers, email addresses and social profiles. Again, this is data that we have collected and cultivated over many years. So how does this help you?
Well, let’s take an example – you positively know you want to live in Mauna Lani Point in the Mauna Lani Resort. There are 116 units in Mauna Lani Point and only four or five come up for sale every year. Now let’s say you’re ready to buy and there are no active properties for sale on the market or in the MLS. What we do here at The Hawai`i Team is we actively call, email and text all of the owners in Mauna Lani Point to find out if they would be interested in selling. More often than not, we find someone who raises their hand and says they would consider selling. We then work out the terms between the off-market property seller, and our buyer.
One of the obvious advantages for you is you don’t have to compete with a bunch of other buyers for the same property and won’t get into any type of bidding war. One of the disadvantages is that generally sellers that don’t have their home on the market but would consider an offer usually ask a premium price. Their attitude is basically, “make me an offer I can’t refuse.” Sometimes this works and sometimes it doesn’t. Other times, if the buyer really wants to be in that particular house or condo badly, they will pay the premium price and not wait.
If you’re thinking about selling a home on the Big Island, then you’ll definitely want to speak with us because our knowledge of the market and access to off market properties are a big advantage for you. The fact that we can reach out to all resort homeowners on the west side of the island with a couple clicks of the mouse and tell them about your available property gives us a huge advantage over our competition and should be one of the main reasons why you would hire us. Here at The Hawai`i Team we like to say that we have the buyers, and we really do with our extensive database of almost 15,000 consumers.
If you’d like more information about how our extensive list of homeowners here on the island can benefit you – whether you’re selling, buying, or investing in real estate – then please reach out to us at The Hawai`i Team. You can contact us at 808-913-0899 or team@thehawaiiteam.com. And by the way, as the owner of the team, I answer the phone.
Aloha
Dan
Dan Polimino is the owner of the Hawai`i Team in Kailua-Kona, Hawai`i. He and his team are the luxury residential experts for the Big Island. If you are thinking about buying or selling in Hawai’i, then please reach out to us at team@thehawaiiteam.com or call 808-913-0899.
