Upon year-end 2014, Sotheby’s International Realty reported expansive growth throughout the world, which now encompasses 60 countries and territories worldwide. The networked totaled 760 branch offices globally, a gain of 8.5-percent and more than 16,570 sales associates, up 14-percent. In the US, affiliated brokers and sales professionals sold more than $70 billion in home sales transactions – the highest sales performance in the brand’s franchise system and a 17-percent increase from the prior year.
“The Sotheby’s International Realty network grew substantially in 2014,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The luxury sector continues to outperform the overall market, which reflects the value consumers see in high-end real estate to grow their wealth, as well as the increasing level of international buyers in key luxury markets.”
Locally, Realogics Sotheby’s International Realty experienced similar results joining the top ten largest real estate brands in the region while leading growth at 63-percent year over year with $580 million in sales.
“While our growth and sales stats are impressive, I’m most excited about our broker production,” says Stacy Jones, Vice President of RSIR. “Ultimately brokers are joining our firm to grow their business and to position themselves for new opportunities. It’s rewarding to see that occurring.”
Jones says the per agent growth rate in total sales volume on average was more than twice that of the next closest competitor. She credits this to investing in each broker’s unique brand and resourcing the marketing, team formation or referral opportunities that come with being a member of this boutique approach to big business.
“As we’ve always said, we don’t need a large volume of brokers to service a large volume of business,” adds Jones. “We partner with our brokers to grow their opportunities.”
From a marketing perspective, the brand’s 2014 campaign delivered more than 800 million impressions. At the core of the Sotheby’s International Realty 2014 strategy was its relationships with pre-eminent media powerhouses in both the print and online arenas including: The New York Times, The Wall Street Journal, The Telegraph Media Group, Google, Architectural Digest, Bloomberg, the Hong Kong Tatler and the Financial Times, developed to showcase unique properties from the brand’s worldwide network. All that investment is paying off as SIR.com visitation has exploded online. Likewise, RSIR.com traffic has doubled every year with thousands of consumers routinely digesting the properties, market reports and informative blog posts.
“We’ve become more than a real estate brokerage,” says Andrea Savage, Marketing Manager for RSIR. “We’re also an events coordinator, a publisher and even a producer. To us sales are the successful conclusion of doing other things well. I think that shows in our marketing and ultimately in the sales results.”
To be sure, RSIR recently celebrated the success of their brokers with a full page ad in The Puget Sound Business Journal recognizing their differentiation and accomplishments.
“Status – yes. Quo – never,” adds Jones. “We want to be different and we are.”
Speaking of keeping good company, in 2015 and for the eighth year in a row, the Sotheby’s International Realty brand won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award. In addition to its real estate ranking, the brand in 2015 moved to first in the overall top 50 from fourth in 2014, and first among the Top 50 “Systems with 250 or more units,” up from third in 2014.