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A luxury penthouse condominium in Calgary’s downtown Eau Claire area recently sold for $4.1 million – the highest MLS sale price for a condo in Calgary.

The listing agent, Heather Waddell of Royal LePage Foothills, had sold the seller another penthouse about five years earlier and had stayed in touch. Waddell says the biggest challenge with high-end properties is always to get the property marketed in a professional manner. “We began by having the property professionally photographed,” says Waddell. “The photographs were posted to the MLXChange, as well as our own website and luxury homes websites.” She also advertised in Dream Homes of Canada and the Oilfield News, publications that focus on high-end readership.

Lori Russell, also an agent with Royal LePage Foothills, ultimately found the buyer for the Eau Claire condo. She was working with clients who had first contacted her regarding another listing. “That original listing was not a fit for them, but I was not deterred,” says Russell. “I continued to maintain contact with them, sending along properties I thought would interest them.”

Russell says that the biggest challenge in the Eau Claire transaction came in keeping her clients focused on what they were looking for. To do that, she asked plenty of questions and listened carefully to their answers. “From this, I discovered that what we had been looking at was not at all what they wanted,” she says. 

Russell advises other Realtors to hang on to those leads. “Follow up regularly and listen to what your clients have to say. They just want to know that they are important to you,” she says.

The record Eau Claire sale took place nine months following the original listing. Waddell says a nine-month listing period is common for a sale of this nature since the buyer pool is smaller.

Ted Zaharko, broker/owner of Royal LePage Foothills, says, “The confidence the buyer showed in the residential and condominium market is very encouraging and confirms what I believe is the beginning of a turn-around for this marketplace.”

Zaharko says that new listings are garnering attention from buyers and the activity in all areas of the Calgary market is improving. “A sale of this magnitude is significant in the Calgary economy,” he says.

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