Real estate agent sells same Remuera house five times

The villa at 39 Armadale Rd in Remuera has been sold five times by the same real estate agent. Photo / Google

An Auckland real estate has sold the same Remuera home a staggering five times, new figures reveal.

Ray White agent Steve Koerber has marketed and sold a run down five-bedroom villa on 39 Armadale Rd on five separate occasions since 2001, bringing in an estimated $150,000 in commission.

The incredible run of sales is revealed in figures provided to the Herald by homes.co.nz.
They show Koerber has also sold four homes three times each during his career marketing real estate in Remuera, putting him at the top of a list of Auckland agents who have sold the same properties multiple times.

Koerber sold the Armadale Rd house for $447,500 in 2001, $880,000 in 2006, $1.2m in 2007, $1.17m in 2010 and $2.31m in April last year. It has a current CV of $2.05m.

Though the successful repeat sales generated about $150,000 in commission, he told Fairfax only a portion of that went to him directly, while the remainder went to his agency.

He believed it was only a matter of time until the property was subdivided and the 1920s villa removed, to make way for more intensive townhouses on the large 885sq m site.

The latest purchaser was an investor and Koerber believed they were most likely land-banking the property, he told Fairfax.

Over the years, various owners had made few changes to the house, despite its "fantastic potential".

"It's very easy for me to show them through and show them the areas that I would change, but no one's ever taken my advice.

Ray White agent Steve Koerber has sold the same Remuera house five times. Photo / Supplied

"They've always just lived in the house and enjoyed it."

There are another four houses in Remuera that Koerber has sold three times - two of which are also on Armadale Rd.

The average Remuera sale price has tripled since 2000, homes.co.nz sales figures show, jumping from $446,750 to more than $1.5m.

Experts say the average Auckland house price is poised to tip $1m when QV releases its next house price index figures next month.

Homes.co.nz spokesman Jeremy O'Hanlon said the sales histories on the website were starting to highlight the standout agents.

"Agents can claim sales on homes.co.nz which gives clearer insights into who to use.
"Historically it's been difficult to find a great agent. We're trying to use data to solve this."