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Trifecta last Thursday tops successes for ResortWorks

Ted Escobar | Hagadone News Network | UPDATED 14 years, 1 month AGO
by Ted Escobar<Br> Chronicle Editor
| October 26, 2011 6:00 AM

CRESCENT BAR - Starting the year, Michelle Smith and Faye Torgerson formed a real estate and rental management partnership they hoped would bring good fortune.

It did, they said Thursday. Both did better financially this year than last. And, despite the fact Crescent Bar is rather quiet, their season won't end until mid-November.

"We may keep the office open this winter if a certain deal we're negotiating goes through," Torgerson said.

That office, at the Sunserra Golf Course pro shop, was perhaps the best move the partners made. It became a social hub that led to many business conversations.

"People said we were making a mistake with this office," Smith. "It was perfect."

Torgerson noted one of ResortWorks's deals started right in the pro shop with a man who had only intended to play golf.

Smith noted there were 15 deals this year, either sales or listings or both, for business totaling well over $2 million. Ten of them occurred during "the season," which is the three summer months when Crescent Bar is as busy as a beehive.

"We exceeded our expectations," Smith said. "We see it as nothing but going up."

Just Thursday, the partners added a 16th deal with a trifecta. All in one transaction, they listed a property, sold it and signed a 6-month agreement to manage its rental.

According to Torgerson, there was good news for owners who were looking to sell. Sunserra properties were going for $146-218 per square foot. They had sold for $99-146 in 2010.

"Next year will be even better for the sellers," Torgerson said. "Values will be up."

The partners are also happy with how their first year went in rental management. They started with five properties and finished with 12.

"We actually made money this first year," Smith said.

There is potential for improvement next year. Michael Smith, the principal broker for Matrix Real Estate, which is affiliated with ResortWorks, has offered to take over more of the administrative work.

"So we can show, sell and bring in more business," Torgerson said.

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