Who would pay $1,800,000 for a home in Red Deer?

Posted by Kyle Dillman on Thursday, May 23rd, 2019 at 8:57pm.

Let's get right down to it.

There are almost 500 single family homes for sale in Red Deer (okay 463 ...but who's counting?). You can buy one for as little as $109,900 OR you can stretch your budget to $1,800,000 if you're interested in owning one of the largest homes within city limits...

We know what you're thinking... "This city doesn't have an NHL team...so who the heck can afford a home like this?" - but consider: Red Deer is a centre for oil and agriculture distribution, and the surrounding regions are a major centre for petrochemical production; combine that industry with a young median age and an average household income that is roughly 67% higher than the rest of Canadians... you've got yourself a wonderful market for luxury homes!

So what's the big deal?

We're so glad you asked! In the last ten years Red Deer homes that sold for more than $1,500,000 measured in (on average) at an impressive 5,200 square feet. 18 Overand Place? ...6,204 square feet! That's 19% larger than the average comparables. We haven't even started talking about the affluent location, views of the river, in-house theatre, gym, or the full bar & kitchen in the basement!

How do you sell a home like this?

To answer that question we've reached out to the listing agent for this property: Nathan Wilkins.

  • So you've been tasked with listing this home, where do you even start!?

"Believe it or not the process is virtually identical to the process I would use to sell a home worth much less! The first step is building the listing. Easy enough, right? Any agent can build a listing, stick a sign on the front lawn, and pray for a sale... my approach involves much more. I only work with high end real estate photographers that can deliver the highest quality possible. I send those shots to an editor overseas (who is exclusive to me) for any touch ups needed. Buyers start their journey online so you have to stay ahead of the curve and put out high quality listings."

  • Where does a buyer for this home come from?

"This is where the fun begins...I went through every single listing north of $1,000,000 that was for sale in Red Deer over the last few years. The land titles (and owners names) for these homes are actually available to anyone through Alberta government websites. Once I had the names of these luxury buyers and sellers I dug through the depths of various social media platforms and found a common theme in their age, job titles, and education backgrounds. Facebook advertising, when implemented correctly, is an amazing tool that I leverage daily; I can plug in my newly discovered audience and target them specifically when I advertise high end homes."

  • You're a young gun in this industry. Why not hire a seasoned vet to sell this home?

"There are definitely huge advantages to hiring an agent with 20+ years of experience. They have a ton of knowledge, a huge book of clients, and have likely built relationships with some pretty affluent people that can help get qualified buyers through the door of a high end home. But consider this... if that agent personally knows of 20 people who could afford a home like this, and each of those people knew 20 people who could afford a home like this... you would have a reach of 400 potential buyers - not bad, right? Well... the feature video for this home was delivered to 8,800 people (from our custom audience) and 45% of them watched it from start to finish."

That's a 2,100% increase in traffic*

View the full listing details here:  http://bit.ly/18Overand



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