By Tyler R. Morrissey
Sotheby’s International Realty® has already set the standard as the world’s preeminent luxury brand and 2017 was no different. This past year, the brand saw its highest annual sales volume performance yet, achieving approximately $108 billion in global sales volume.
“In 2017 we witnessed the expansion of the global economy,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The Sotheby’s International Realty® brand is in 69 countries worldwide, so we were well-positioned to both contribute to and benefit from that growth. The success of the global economy, coupled with our strategic goals, yielded outcomes better than we could have ever anticipated in 2017. We look forward to carrying that strength into the new year.”
In addition to these outstanding sales figures, the company expanded its global network, which now comprises nearly 950 offices and around 22,000 sales associates worldwide.
Here in the in United States, the Sotheby’s International Realty brand achieved over $96 billion USD in sales volume in 2017 and added six independently owned and operated residential real estate firms to its network and 58 new offices. This past year witnessed continued significant growth by the brand’s existing affiliate companies through talent attraction as well as mergers and acquisitions, most notably increasing the brand’s market presence in the San Francisco Bay Area; Castle Rock, Colorado; and in Southern Florida and Key West. The brand also entered several key new markets last year, namely: Roseville, California; Avalon and Stone Harbor, New Jersey; the Central and Western Adirondacks regions of New York; Greater Greenville, South Carolina; and southeast Wisconsin.
Beyond the U.S. borders the Sotheby’s International Realty brand achieved over $12 billion USD in sales volume in 2017 while continuing to expand into key markets. In Europe, the brand grew its presence in Spain into the coastal cities of Valencia and San Sebastián, and in Belgium to Antwerp and Waterloo, as well as expanding to the Greek island of Rhodes. The brand also sold the rights to the Asian countries of Vietnam, Indonesia and Sri Lanka to establish a future presence, and grew within India to include the key markets of Mumbai, Bengaluru, Chennai, Pune, Goa and Kolkata.
“The exclusive marketing partnerships and global network that the Sotheby’s International Realty brand offers are unmatched in the luxury real estate industry,” said Paul Breunich, President and CEO of William Pitt and Julia B. Fee Sotheby’s International Realty. “We are proud to be part of this network of extraordinary professionals and look forward to being a part of the company’s success in the many years ahead.”
Sotheby’s International Realty has also forged new paths in reaching its valued clients. The brand’s website, sothebysrealty.com, saw another record year with nearly 27 million visits, a 25 percent increase year-over-year, with 60 percent of visitors coming from outside the United States and 17.5 percent of traffic being from new users. An exclusive alliance with the Nikkei, the most influential news publication in Japan, was launched in 2017. The alliance enables the brand to generate Japanese buyer interest through the Nikkei’s digital platform which reaches over 29 million monthly readers. The Sotheby’s International Realty brand is the first real estate brand to present property listings outside of Japan to readers of the Nikkei, giving Japanese consumers access to residential real estate offerings in nearly 70 countries and territories.
The Sotheby’s International Realty brand was the No. 1 real estate brand represented in two of the six categories that comprise the 2017 REAL Trends/The Wall Street Journal “The Thousand” for the second year in a row. The brand claimed 46 of the top 250 sales associates in the REAL Trends Individual Sales Volume category, more than any other real estate brand, and had the highest combined individual sales volume from sales associates in the same category. In addition, the Sotheby’s International Realty brand had the most individuals represented in the Individual Average Sales Price category.
Property listings from William Pitt and Julia B. Fee Sotheby’s International Realty are marketed on the sothebysrealty.com global website, as well as on our company’s local website, williampitt.com. In addition to the referral opportunities and widened exposure generated from this source, our brokerage and our clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.
