After a record $1.2B year, Hegg Realtors sells to Minnesota firm

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SIOUX FALLS, S.D. (KELO) — After closing out 2021 with $1.2 billion in home sales, Hegg Realtors ended its record year by selling the company to Edina Realty, the largest residential real estate firm in Minnesota.

“My uncle Ode Hegg started the firm in 1945; he started just basically selling farms,” Hegg Realtors co-owner Bill Hegg said.  

Over the past 76 years, real estate became the family business for the Heggs.

“His son Peter Hegg joined him in 1961 and started doing more residential. Then in the 70s, I came aboard from Augustana, right out of college, just knocking on doors,” Bill Hegg said.

Since then, Hegg Realtors has grown into the region’s largest residential real estate firm.

“We have 209 agents to end the year in 2021, so it’s grown a lot over the last 20 years or so,” Hegg Realtors CEO Gregg Gohl said.

But this last year, the company’s reach in real estate soared to new heights.

“’We had a record year in 2021 with $1.2 billion in homes sold,” Gohl said. “That was the first time in history we’ve been over a billion dollars. It’s one of the biggest years I’m sure for any real estate company in the state of South Dakota.”

Those record sales helped attract the attention of Edina Realty, the largest residential firm in Minnesota.

“This their first endeavor into South Dakota and that’s exciting for them I know,” Gohl said. “It’s a company of what was 2300 agents and 75 offices, but now we add a couple hundred more agents to that.”

But for people looking to buy or sell a home in South Dakota, the Hegg family name is here to stay.

“Hegg stays Hegg,” Gohl said. “We’ve had a great brand and a great history with Hegg over the years, so our brand doesn’t change, our staff doesn’t change, our leadership doesn’t change, the structure for our agents doesn’t change,”

Gohl says Edina’s leadership means more resources and opportunities for local agents.

“To have a bigger, more stable company behind you helping you with all of those things means a lot. Whether it’s legal or marketing or relocation services and all of those things,” Gohl said.

All while keeping the legacy of Hegg Realtors intact.

“It’s the best brand in the real estate business,” Bill Hegg said. “It’s recognized, we’re well respected, well known…and that’s why we’re in the position that we are.”

Hegg says day-to-day operations will stay the same for all South Dakota agents. The sale to Edina was finalized on December 31st, but details of the sale are not public.

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