How could the Duehrsens not be happy!
A change from a private sale to listing on the Multiple Listing Service® netted them substantially more than they expected.
Karen and Heiko Duehrsen had been told by their banker that their best option was to sell privately. The banker reasoned a REALTOR’s commission would cut into the eventual selling price of their modest 913-square-foot home.
The Duehrsens received two visits to their private sale — two friends, actually — whom they told the selling price was $120,000.
They were then approached by REALTOR Natasha Kouk, who did a comparable market analysis for the couple, knowing full well that their intent was to sell privately.
“They asked numerous questions about selling privately,” said Kouk, “and even asked about private home auctions.
“We discussed the pros and cons of a REALTOR and private. They were convinced when I offered all the benefits of using a REALTOR and decided to list with me.”
“She came in and told us we could get a lot more (than their private selling price of $120,000),” said Karen. “She told us what to do, what to spend on fixing up our home, so we told her to go ahead.”
What happened by listing with a REALTOR was that the Duehrsen’s received $31,600 above the original MLS® list price of $129,900 for their River Heights home.
“We would have accepted $120,000 if we sold privately,” Karen said.
Five offers were made on the home, starting at $138,000 until they decided on the offer of $161,500.
“We were extremely pleased,” said Karen. “It was amazing.”
But, not only had the REALTOR member of the Winnipeg Real Estate Board sold their house on Beaverbrook Street for them, she also was able to find a 1,475-square-foot move-up home for them to buy.
“It was exactly what we wanted,” said Karen. “We told her we wanted a fixer-upper and that’s what she got us.
“We also told her we wanted to stay in River Heights and she found a house for us in the neighbourhood at a reasonable price. We couldn’t have done it without her.”
WREB president Ruthe Penner said 45 per cent of all MLS® residential-detached sales in April sold above their list price with another 12 per cent selling at list price.
“In addition, the 23 per cent spread between sales increases and dollar volume increases has never been that large,” she added.
Penner also pointed out that a modest three-bedroom, 1,100-square-foot, one-and-a-half-storey home in Old St. Vital ended up selling for $165,000, which was over $35,000 above its list price.
A home in Silver Heights listed at $116,900 by REALTOR and WREB member Frank Zappia had 42 showings in three days and four offers — the home eventually selling for $135,000.
“This was all going on when a close-by auction was on and didn’t get the reserve bid,” said Zappia.
Penner said the key to successful real estate transactions is the education, experience and knowledge about the market all REALTORS bring to the table.
Karen Duehrsen couldn’t agree more. She said her REALTOR had the right advice about the market readily at-hand. “She knew exactly what she was doing.”
The WREB reported MLS® sales of 1,157 units in April, up two per cent from the same month last year.
Dollar volume sales increased 25 per cent to $156.1 when compared to April 2004.
The dollar volume reached was within a few hundred thousand dollars of the best month on record for MLS® — June 2004.
Year-to-date MLS® activity shows sales at 3,433 units, which is slightly ahead of the 3,419 sales during same period last year, but dollar volume is up 15 per cent to $444.9 million compared to 2004.
“Without beginning to sound redundant in my comments from month to month,” said Penner, “it can certainly be said April MLS® activity set a new benchmark for the Winnipeg real estate market.”
The average number of days an MLS® listing was on the market was just 19, two days faster than the previous month and at the same rate as April 2004.
Residential-detached sales in April were most active in the $130,000 to $159,999 price range with 23 per cent of all sales.
Only 27 per cent of all sales were under $100,000.
The most expensive sale in April was a Tuxedo home for $975,000.