Sotheby’s International Realty Achieves Record $114 Billion in Global Sales Volume in 2019
by Melissa Couch
Originally published on March 3, 2020 | Extraordinary Living Blog
Sotheby’s International Realty is pleased to announce that its affiliated brokers and sales professionals achieved more than $114billion USD in global sales volume, the highest annual U.S. sales volume performance in the history of the brand. $102 billion USD of the global sales volume was achieved in the U.S., marking another record accomplishment for the brand.
"In 2019, the Sotheby’s International Realty® brand continued to achieve solid growth,” said Philip White, president and chief executive officer for Sotheby’s International Realty. “The brand expanded into new countries and territories and entered new markets in the U.S. We continued to make strategic business decisions that benefitted both our independent sales associates and affiliate companies. I am immensely proud of the hard work and dedication from our vast global network, and I look forward to continuing this momentum in 2020."
Propelled by a strategic business move in March 2019, when Sotheby’s International Realty integrated its affiliate network and company-owned brokerage into one global organization, 50 new Sotheby’s International Realty offices were opened, bringing the brand’s presence to 1,000 offices in 70 countries and territories and more than 23,000 affiliated sales associates worldwide.
Sotheby’s International Realty continued to lead the category with the roll-out of exclusive marketing affiliations and first-ever technology launches, announcing it will soon unveil a new, fully integrated website. The brand’s existing website, sothebysrealty.com, saw another record year with more than 34 million visits, a 14 percent increase year-over-year. In addition, Sotheby’s International Realty was the first real estate brand to launch and implement mixed reality to its Curate by Sotheby’s International Realty sm augmented reality app, which merges the real world with virtual home staging. The platform can be utilized in various homebuying and selling scenarios, and particularly benefits agents and developers to help prospective buyers envision their new home. To support the daily business needs of the network’s more than 23,000 independent sales associates, the brand unveiled Current by Sotheby’s International Realty® a robust marketing suite of technology tools consisting of best-in-class and exclusive apps, which provide sales associates with a distinctive and competitive edge in the market. For partnerships, the brand entered into an affiliation with Bloomberg.com as the exclusive launch sponsor for a new luxury properties marketplace.
The Sotheby’s International Realty brand and its independent sales associates continued its support for New Story, the brand’s charitable partner and a certified 501(c)(3) non-profit organization. As a result, 83 families, who were among those who lost their homes in the 2017 earthquakes, were able to move into their new homes in Morelos, Mexico. A total of 153 homes in Haiti and Mexico were funded through the initiative.
This year observed significant growth for the brand’s existing affiliate companies in the United States through recruitment efforts and strategic mergers and acquisitions. Most notably, the brand increased its market presence in Brooklyn, New York; the Greater Boston area, Massachusetts; and Indiana. The brand also entered several new key markets last year, expanding the Sotheby’s International Realty network’s presence to 43 states across the country.
Outside the U.S. the Sotheby’s International Realty brand achieved more than $12 billion USD in sales volume and continued to expand into key markets around the world. In Europe, the brand grew its presence in Monaco; France; and Berlin and Binz, Germany. New offices were also opened in Doha, Qatar; and Paphos, Cyprus, expanding the brand’s global presence in marketing luxury listings. In the Caribbean and South America, the brand saw growth in Zapallar, Chile, an upscale residential community located two hours outside of Santiago; and agreements were signed to expand into the Anguilla territory. In the Asia-Pacific region, new offices were opened in Tauranga, New Zealand; and Port Douglas, Hobart, and Perth, Australia.