Sotheby’s International Realty achieves $108 billion in global sales volume for 2017

William Pitt Sotheby’s International Realty recently announced that the Sotheby’s International Realty brand reported that in 2017 its affiliated brokers and sales professionals achieved approximately $108 billion in global sales volume.

“In 2017, we witnessed the expansion of the global economy,” said Philip White, president and CEO of 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.”

The Sotheby’s International Realty brand also reported growth across its global network. At year-end, the network totaled nearly 950 offices and approximately 22,000 sales associates worldwide.

In the United States, the Sotheby’s International Realty brand achieved more than $96 billion 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, Colo.; and in Southern Florida and Key West.

The brand also entered several key new markets last year, namely: Roseville, Calif.; Avalon and Stone Harbor, N.J.; the Central and Western Adirondacks regions of New Yor; Greater Greenville, S.C.; and southeast Wisconsin.

Outside the U.S., the Sotheby’s International Realty brand achieved more than $12 billion 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.”

Reaching the consumer

The Sotheby’s International Realty brand website, www.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.

“In 2017, the brand launched a dedicated effort to establish meaningful connections with the emerging affluent consumer,” said Kevin Thompson, chief marketing officer, Sotheby’s International Realty Affiliates LLC. “Data from www.sothebysrealty.com indicates that we are already well-positioned among this demographic, showing that nearly half of the traffic coming to the site was from the 25- to 44-year-old age group. As personalization has begun its reign over the luxury mindset, the consumer journey has also experienced a shift; it is our mission, as a preeminent luxury residential real estate brand, to continue to identify and execute new and authentic ways to connect with discerning clients.”