[INSIDE HAWAII INC.]

DEAN SENSUI / DSENSUI@STARBULLETIN.COM It's never too late to buy, says Judy Sobin, chief executive of the Honolulu Board of Realtors.

New Realtors chief says
education, development
are key to encouraging
broader homeownership

Judy Sobin >> Position: Chief executive officer, Honolulu Board of Realtors >> Previous job: Executive director, Volunteer Legal Services Hawaii >> Board memberships: Treasurer of the Keiki Injury Prevention Coalition; chairwoman of the advisory committee for the Hawaii Children's Trust Fund; president-elect for the National Association of Pro Bono Professionals

Do you think the real estate bubble has reinflated in Hawaii?

I don't think reinflated to the point that Federal Reserve banker Robert McTeer suggested in his recent talk here in Honolulu. What's troubling people about the current situation is the lack of availability of inventory, and that's inventory at every level -- at the affordable housing through the higher level. I think that's what we have to focus on. We have to make housing available to people in our community, and I'm hoping that we can do that working with all segments of the community. Realtors can't do it alone. We have to work together as a community and as a state to do that.

What types of things could be done to achieve that objective?

I think in order to have more broad-based home ownership, people need to be educated and to know how they can do that. And then, there needs to be the housing available for them to move into or to move up to depending what level they're at in their family income. I think there's an awful lot that can be done -- both at an educational level and at a development level. The last part is that we participate in the growth of our economy overall so it's just not the real estate sector that's doing well. That will benefit everybody.

Is it too late for prospective buyers to enter the real estate market?

I would say it's never too late to enter the housing market. I know it's not easy for many people and that's, of course, one of the things we need to work on as a community. That is to make it easier for first-time buyers to get in and for buyers already in the market to improve their housing ownership. But I don't think it's ever too late. People, of course, have to be willing to maybe make some changes in their lives in order to get into the market the way it is today. We need to improve it. We need to expand the ability of people to get into housing they can afford -- at this time and at any time in the future.

Looking into your crystal ball, what do you see for the housing market during the next couple years?

The market ebbs and flows and I'm not in any position to predict it any more than many in our community. What I can say is that I strongly believe that a person working with a member of the Honolulu Board of Realtors as a buyer or a seller is going to do much better in this market.

Do you think there's a lot of speculation in the market now?

I don't know. I know people are watching the market closely. I think for most people, there is no speculation. I think most people just want to buy or sell their property and get the best price either way, and I think that's where a Realtor comes in.

You're not a Realtor, yet you've been named the CEO of the organization. Will that present a problem?

I don't think so. I'm not an attorney either and I led a legal service organization for the last 11 years. I think it's important to have a knowledge of the real estate industry for me, and I have that knowledge from my past experience as a government affairs director for the Honolulu Board of Realtors, as well as the chief of staff of the Honolulu City Council planning and zoning committee for five years. I think I know the industry well and feel very, very comfortable in supporting the goals and the professionals of the Honolulu Board of Realtors and the real estate industry.

What's the difference between a licensee and a Realtor?

There are people licensed to sell real estate but who are not members of the Honolulu Board of Realtors (which has 4,500 members). A Realtor is a professional designation of the Honolulu Board of Realtors or any other Realtor association. It's a very important designation because there are great benefits to being a member of the Honolulu Board of Realtors in terms of professional standards, and in terms of educational standards and support provided by the staff that will greatly benefit the clients as well as the community in general. That, I think, is the main purpose to bringing everybody together and providing the same level of professionalism throughout the industry by being members of the Honolulu Board of Realtors.

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Inside Hawaii Inc. is a conversation with a member of the Hawaii business community who has changed jobs, been elected to a board or been recognized for accomplishments. Send questions and comments to business@starbulletin.com.