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Local realtor pitches consolidated listing and marketing for East Grand Forks’ Waters Edge lots; board directs staff to negotiate
Summary
Isaiah Reynolds, a local realtor, pitched a one-agent, targeted marketing campaign for nine unsold Waters Edge lots and offered to absorb marketing costs; the EDA voted to have staff negotiate contract terms and return with a proposed agreement at the next meeting.
Isaiah Reynolds, a local realtor, told the East Grand Forks Economic Development Authority on March 18 that a single, actively marketed listing could help sell nine remaining Waters Edge lots.
Reynolds said he would serve as the sole listing agent while tapping a small in-office team to produce aerial photos, video, mock-ups of potential houses and regionally targeted online ads. "My name is Isaiah Reynolds, just a local realtor here in the greater Grand Forks community," he said, adding that marketing costs would be his expense, not the city’s.
The pitch emphasized clearer messaging and a consolidated contact point for builders and buyers after prior listings had expired and, in some cases, lagged more than a year without updates. Reynolds proposed using MLS placement, video content, and local builder outreach to re-engage prospective buyers; he also noted the EDA’s existing buyer incentives (the 100K program and the $1,000 down program) as marketing hooks.
Board members asked whether a single agent would limit other brokers from selling lots and whether commissions were a set amount per lot or a percentage. Staff and participants said lots had historically carried a set commission (board members recalled $3,000 per lot), and Reynolds said any listing would automatically appear on the MLS and other standard channels. He recommended a one-year contract term as a reasonable test period.
After discussion about marketing scope, commission language and proposed contract length, a board member moved that staff (Maggie) negotiate contract terms with Reynolds and return a formal contract for board consideration at the next meeting. The motion carried by roll call.
What happens next: staff will draft and circulate proposed contract terms (including commission, duration and any buyer-agent commission language) for the board to approve at a future meeting. The EDA did not finalize commission or term details during the March 18 meeting.
