NEW YORK, Feb. 25, 2021 /PRNewswire/ -- Sotheby's
International Realty is pleased to announce that its
affiliated brokers and independent sales professionals achieved a
record US$150 billion in 2020 global sales volume, a
nearly 32% increase in sales growth year over year, as the
definition of home changed for consumers around the world. Due to a
longstanding commitment to innovation, Sotheby's International
Realty® agents were able to seamlessly help clients
navigate the changing market dynamics brought on by the global
pandemic with existing technology offerings which propelled
business momentum.
"Agents affiliated with Sotheby's International Realty quickly
pivoted to address the impact of the global pandemic," said
Philip White, president and CEO of
Sotheby's International Realty. "Thanks to innovations we pioneered
nearly a decade ago, our affiliated companies and agents made the
impossible possible. Their adaptability to serve clients safely
further extended our position as a leader in luxury real
estate."
Long-Standing Commitment to Virtual Technology Paved Way for
Success
Sotheby's International Realty continued to lead the industry
and was well-positioned to meet the needs of consumers as the
buying and selling process became increasingly virtual.
Sotheby's International Realty agents accelerated the use of
the brand's existing video, virtual reality, and live-streaming
technology to produce new forms of content that engaged buyers and
set a new standard for marketing luxury properties. Currently,
buyers can safely tour more than 6,000 properties via virtual
reality or video on sothebysrealty.com. Property videos also proved
engaging on social media where the brand's YouTube channel
delivered 43 million views, or the equivalent of more than one
million hours watched.
"As a leader in the luxury real estate industry, Sotheby's
International Realty is able to anticipate trends," said Chief
Marketing Officer, Bradley Nelson.
"Our priority remains to present listings in the best possible
manner and to provide a superb end-user experience however buyers
prefer to search for their new home. Virtual technology has been at
the forefront of our marketing strategy for several years and comes
as naturally to us as our commitment to high quality service."
The brand also unveiled a new website, sothebysrealty.com,
available in 14 languages and nearly 60 currency conversions, to
continue serving its growing international clientele and fuel
referrals worldwide. The website achieved a notable amount of
traffic for the brand with 37 million visits in 2020. Property
videos on the site produced by Sotheby's International
Realty agents were especially popular and played nearly 13
million times in 2020, totaling more than 90,000 hours watched.
A Year of Strategic Growth and Record Achievements
Despite travel restrictions, Sotheby's International Realty
remained committed to expanding its global footprint and achieving
strategic growth. In 2020, the brand opened more than 50 new
offices across the world, bringing the brand's total presence to
nearly 1,000 offices in 75 countries and territories with
approximately 24,000 independent sales associates worldwide.
The brand's existing affiliated companies around the world
continued to grow in 2020. Sotheby's International Realty increased
its total domestic presence to 45 states around the country.
Sotheby's International Realty facilitated affiliate expansions
through 12 domestic M&A transactions, including
California, Colorado, Florida, Massachusetts, and Washington.
The brand also continued to expand internationally in key
markets and opened offices in seven new territories. In
Europe, the brand expanded to
Ukraine, Romania, Montenegro, and in Germany. In the Asia-Pacific region, the brand opened its
first office in South Korea and
expanded in the Caribbean and
Latin American region with two new offices in Paraguay and Antigua
& Barbuda.
"Our international footprint is one of our greatest competitive
advantages," said Tammy Fahmi, vice
president, global operations and international servicing. "Our
brand's locations are in the most desirable places around the
globe, so our clients know they can rely on our local market
expertise wherever they are looking to buy or sell."
As affluent individuals looked to acquire secondary homes in
markets around the world, Sotheby's International Realty
agents acted as true global real estate advisors and referral
volume surged by 42% to US$2.9
billion in closed sales volume.
"Our 2020 results prove what is possible when you focus on
quality above all else. We remain proud to be the real estate brand
of choice for so many luxury real estate experts and affluent
clients. We will continue to work tirelessly to prove their trust
has been well placed," concluded White.
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real
estate service for discerning clients of Sotheby's auction house.
Today, the company's global footprint spans nearly 1,000 offices
located in 75 countries and territories worldwide, including
45 company-owned brokerage offices in key metropolitan and
resort markets. In February 2004,
Realogy entered a long-term strategic alliance with Sotheby's, the
operator of the auction house. The agreement provided for the
licensing of the Sotheby's International Realty name and the
development of a franchise system. The franchise system is
comprised of an affiliate network, where each office is
independently owned and operated. Sotheby's International Realty
supports its affiliates and agents with a host of operational,
marketing, recruiting, educational and business development
resources. Affiliates and agents also benefit from an association
with the venerable Sotheby's auction house, established in 1744.
For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International
Realty Affiliates LLC, and the company owned brokerages are
operated by Sotheby's International Realty, Inc. Both
entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a
global leader in real estate franchising and provider of real
estate brokerage, relocation and settlement services. Both
Sotheby's International Realty Affiliates LLC and Sotheby's
International Realty, Inc. fully support the principles of the Fair
Housing Act and the Equal Opportunity Act.
CONTACT
Melissa
Couch
PR Manager
Sotheby's International Realty
973-407-6142
melissa.couch@sothebysrealty.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/sothebys-international-realty-sees-32-sales-growth-and-achieves-record-150-billion-in-global-sales-volume-as-2020-changes-definition-of-home-301235737.html
SOURCE Sotheby's International Realty