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Business Briefs: The Real Estate Company of DL under new ownership; DEED says unemployment at pre-pandemic levels in MN

The Real Estate Company of Detroit Lakes is under new ownership and was purchased by a long-time realtor with the company in April 2021. Chris Nord, the company's new owner said he hopes to expand the multi-media reach with his listings by implementing 3D-tours and aerial drone footage for future listings. Also, the Minnesota Department of Employment and Economic Development revised its latest state employment report for September which showed Minnesota reached 3.5% unemployment, the same percentage as March 2020 before the pandemic forced stay-at-home orders and health mitigation measures.

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Real Estate Company of DL under new ownership

The Real Estate Company of Detroit Lakes is under new ownership after being purchased by a long-time realtor with the company in April 2021.

Chris Nord, the company's new owner, purchased the company from Dave Neisen in April 2021. Nord started working at TREC in 2015 and vowed to continue to grow the company as the previous owner had.

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Dave Neisen, left, former owner, shakes hands with Chris Nord, right, new owner of The Real Estate Company of Detroit Lakes, at the company office. Nord purchased the company from Neisen, who agreed to stay on as a principal broker, in April 2021. (submitted)

Neisen agreed to stay on as a principal broker and will remain an "integral" part of the sales force, Nord wrote, in a news release.

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Nord was born and raised in Detroit Lakes and has a Bachelor's Degree of Science in construction management. He also has previous experience as a project manager for a commercial contractor in the Twin Cities.

He stated hopes to implement new multi-media and technology into the company's future listings by including 3D-tours and aerial drone footage for free to their clients.

" TREC is having a record year," Nord stated. "We are currently the number one agency in commercial sales in the Lakes Region."

Nord sited the Lakes Country Association of Realtors for his businesses sales numbers and also pointed out that TREC won the 2021 Best of the Lakes real-estate brokerage for the third year in a row.

DEED reports unemployment reaches pre-pandemic levels in Minnesota

The Minnesota Department of Employment and Economic Development revised its October unemployment percentage to 3.5%, according to a Nov. 18 news release from the agency.

The revised statewide unemployment rate, 3.5%, is the same percentage as March 2020, before the COVID-19 pandemic began to force stay-at-home orders and health mitigation measures to combat the virus that affected thousands of Minnesota businesses.

The agency stated the cause for the October revision was due to people moving from unemployment to employment. However, statewide labor participation remains lower, 67.8%, than the March 2020 pre-pandemic levels of 70.2%.

"At DEED, we continue to work with unemployed Minnesotans, helping them to find work that meets their families' needs," said DEED Commissioner Steve Grove.

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The report also pointed out that average hourly employee wages for Minnesotans increased to $33.43, an increase of 8.7% since September 2019.

The national Consumer Price Index (CPI), which measures inflation, reported prices, on average, increased 0.8% in October, totaling a 6.2% increase for the year.

Minnesota also gained 9,900 jobs in October, a 0.3% increase from the September totals. During the entire year, the state has gained 94,455 payroll jobs, up 3.4%, according to the agency report.

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