Today Eric talks about his million dollar transactions.
Interviewer: How many million plus transactions have you had?
Eric: Not too many. I wish there were more.
When we first opened the doors, our average price was $89,000. 20 years ago, we were at 89,000. When real estate got smoking hot, we got up to about 350. Right now, we’re probably about 280, 290 is what the average is.
I have been fortunate enough to have several multi-million dollar transactions. One of my first ones was a million dollar piece of land, behind Bojangles in Siler City. We renegotiated that. That actually ended up closing at 975, but that was pretty close, whatever. I sold 140 acres across the street from Governors Club in North Chatham, so that was a pretty penny. That was $2.8 million, so that was a very, very expensive piece of land, one of the most expensive to sell in that area in a while. I sold 300 acres on the Rocky River for 1.7 million. Just a couple of months ago, I sold 114 acres on Manns Chapel for 1.5 million. And I sold a piece of land on the Rocky River to an investor out at Cari, on the Rocky River. That just sold for 925, so that was close to a million bucks. And I sold some commercial buildings, several of them together in a block, in downtown Pittsboro and that was 2.2 million.
So I’ve been lucky. I’ve been fortunate. I mean, it’s less than 1% of agents ever have a transaction over $1 million. You see those fancy TV shows, the Million Dollar Real Estate, and out in California or Las Vegas or Miami and that’s all they deal with, is million dollar plus. And we have some of them in Raleigh as well, but a million’s a big, big number and it doesn’t happen too often in Chatham County. I hope to have more of them in the future. I never thought that I would have a million dollar plus transaction when we started out at 89,000.
Though funny enough, the week that I sold the 2.8 million piece of land, I closed on a $17,000 trailer, as well. So in one week… I mean, that’s got to be the greatest disparity ever in the history of real estate, a $2.8 million closing and a $17,000 closing in the same week. But that’s what we do in Chatham County. We have it all.
