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Kentwood boasts record sales of $1.72 billion

Peter Niederman

Peter Niederman

Article Highlights:

  • Kentwood has a record year in sales volume in 2012.
  • Sales of $1.7 billion are $600 million higher than in 2011.
  • Average sale price tops $500,000.

Realtors at Kentwood Real sold a record $1.72 billion in properties in 2012, making it one of the best-performing real estate companies for its size in the nation.

The 170 real estate brokers closed on 3,272 properties with an average price of $525,219. Kentwood Real Estate has three offices staffed by a total of approximately 170 real estate brokers.

The company’s performance ranks it among the top producing real estate companies in the nation.

The sales volume of $1,718,516,376, was almost $600 million more than the company posted for 2011.

Previously, the Denver Business Journal had reported that the top three real estate companies for volume in metro Denver for 2011, had 187 to 820 more agents than Kentwood.

Kentwood’s brokers averaged 19.4 real estate transactions each for 2012, which is three times the national average. The company’s average sales volume for 2012 was four times the national average.

Kentwood’s average sales volume per agent for 2012 was $10.1 million.

During the previous five years, Kentwood Real Estate was ranked among the top three real estate firms in America in total average sales volume per agent, according to Real Trends and the National Association of Realtors Kentwood was number one in average agent sales volume in 2009. The latest Real Trends Top 500 brokerage list is scheduled for distribution this April

Real Trends is a leading real estate consulting and communications company based in Denver, and the NAR is the national trade association representing licensed real estate brokers in the U.S.

“We had a remarkable year in 2012 and the performance is a testament to the hard work, knowledge, and experience of our veteran brokers,” said Peter Niederman, Chief Executive Officer of Kentwood Real Estate. “While we represent all price ranges throughout the metro Denver area, we were particularly strong in the luxury segment of the market with a total of 296 sales with an average price of nearly $1.7 million, or almost a half-billion dollars in sales volume.”

The Denver Multiple Listing Service reported that transactions for the general market were up 17.5 percent in 2012, with sales volume up 28.6 percent for the year. Kentwood Real Estate recorded a 38.6 percent increase in transactions for 2012 and a 55.5 percent increase in total sales volume.

Kentwood Real Estate’s market share for 2012 was number one in the metro Denver area at 10.8 percent, with the company’s closest competitor at 6.47 percent, according to the Denver Multiple Listing Service’s report on the eight core Denver area submarkets.

The figures represent all price points in the heart of the metro Denver area, which means Kentwood Real Estate sells more real estate than any other company in the region, according to the company.

In Kentwood Real Estate’s state-of-the-company meeting on Tuesday, Niederman told the company’s management team about leading the Denver area market in 2012.

You could see the sense of pride displayed by everyone at the meeting,” said Niederman. “Our accomplishments are a direct result of our culture, and we are dedicated to protecting our brand and moving forward at an even higher level in the future.”

Kentwood Real Estate is composed of the Kentwood Co. in the Denver Tech Center, the Kentwood Co. at Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal