KILAUEA — Even though all real estate odds are stacked up against him, Neal Norman of Koa Properties Land & Homes in Kilauea, proves that hard work, passion and strong relationships are all a part of what it takes for
KILAUEA — Even though all real estate odds are stacked up against him, Neal Norman of Koa Properties Land & Homes in Kilauea, proves that hard work, passion and strong relationships are all a part of what it takes for a business to prevail in a sour market.
Norman has already accomplished over $42 million in sales this year alone; over six times the amount of other top producing agents on the island and over twice as much as any agent in the entire state.
Not only that, but his company’s overall sales exceed others on Kaua‘i by more than four times.
“The key is to love what you do,” Norman said in an interview last week. “Period.”
Norman bought and remodeled his first home when he was only 19 years old and apparently became hooked on the real estate process ever since.
His passion is not only obvious in his off-the-chart sales, but it’s clear to those who step foot into the Koa Properties’ abode in the old stone building of Kilauea.
The avant-garde, locally owned enterprise offers a laid-back, friendly atmosphere, amidst a sleek, modern setting, with the only black and white photographic gallery in the state to boot.
“It felt like the right location to have a little culture and sophistication,” Norman said about the gallery, adding it’s just one more thing that sets his niche business apart from others.
Another likely reason has everything to do with the relationships that he and his agents have built along the way, even after a deal closes.
“I’ve worked for companies where their focus was ‘sell the dream, make the deal;’ I didn’t last there for very long,” said Larry Hinkel, broker-in-charge of Koa Properties. “I’m more into establishing a relationship with the people. There are very few clients of mine that I’m not still good friends with, that I don’t still keep in touch with.”
Norman agreed and said that he has always managed to maintain deep, personal relationships with his clients.
“With 30 or more years of doing real estate, not only for clients, but building and designing my own properties and homes, the ultimate and strongest difference is in the follow through,” he said. “We stay with the client for years to come.”
Lasting relationships are a major factor to why his “island-born” business has rapidly progressed over the years, as opposed to others which are encountering a retraction is sales right now, he said.
While Norman personally focuses on the higher-end market, his agents cover all bases of Kaua‘i real estate and even though they have noticed a significant dip in sales, both Hinkel and Ken Attix, a realtor-associate at Koa Properties, haven’t yet been deterred.
“I think it’s a matter of weathering the storm,” Attix said. “People either don’t have the money, or they’re picking and choosing when the right time to buy is.”
When Hinkel was asked if he thought there might soon be a light at the end of the economic tunnel, Hinkel said, “As far as what the economy is doing it’s anybody’s guess.”
While Attix, Hinkel and Norman continue to weather the storm, not all agents on the island have had equal success. In fact, there has been a significant dip in real estate agents across Kaua‘i over the past year, falling from 650 to 550 just in the past five months.
On the other hand, Norman said timing is ideal for buyers looking for long-term housing situations, considering the drop in residential and land prices.
“It’s a wonderful time to be looking for a new home, understanding and spotting the property that you might want,” Norman said. “This is a dream place and great properties are rare and they’re more available than ever.”
When asked whether Norman thought the high-end market may not be as affected by the current recession, he said the same situation applies for everyone right now.
All buyers are waiting for prices to get lower, no matter what their range, and the real “savvy buyers” know when the right time to buy is, he said, whether they are looking for a one-bedroom condo or a large parcel of land.
“There are no two properties alike here and when that special gem appears you just have to get it or risk not getting exactly what you want,” he said, adding that it’s only a matter of time before the market turns back around and buyers will have missed their opportunity.
“I feel blessed and fortunate, but the word ‘success’; I don’t know how you quantify that word,” Norman said. “I have a beautiful family — a wife and three children, everybody’s healthy, I get to surf; that’s success.”
For more information visit www.koakauai.com or call 828-6644.
• Coco Zickos, business and environmental writer, can be reached at 245-3681 (ext. 251) or czickos@kauaipubco.com
