Sotheby's International Realty brand experiences unprecedented growth
Sotheby’s International Realty Affiliates LLC today announced that it grew both the office and agent count within its global network by 11 percent in 2010, ending the year with 11,700 sales associates located in more than 550 offices in 44 countries and territories worldwide.
“In addition to our office growth, the Sotheby’s International Realty brand also proudly grew our network by more than 1,100 sales associates in 2010, demonstrating the appeal of our luxury real estate brand and what we offer those brokers and sales professionals who are part of our international system,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC.
“Last year we achieved our primary domestic growth plans by gaining a presence in several key California markets as well as Dallas, Texas, and Naples, Florida,” added Good. “We also achieved critical international objectives with the signing of new master franchise agreements for the United Kingdom, Japan, Hong Kong and Sweden. We recognize that consumers are seeing the value that luxury real estate represents as part of a long-term strategy for growing wealth. In fact, the average sales price increased by more than 15 percent in 2010 for our U.S. brokers, including both our independently owned and operated network members as well as Realogy’s company-owned offices. Our goal for 2011 is to continue to expand our network in key luxury markets worldwide and to build on the valuable tools and resources that we provide to our brokers, their sales associates and consumers.”
The Sotheby’s International Realty® brand added 15 new residential real estate brokerage firms to its network across 13 states in 2010: Indiana, New Hampshire, Washington, Tennessee, New York, Georgia, Illinois, Ohio, California, Florida, Texas, Michigan and Kentucky. In addition, 18 existing Sotheby’s International Realty affiliates opened new offices to better serve their current markets or expand into new markets.
Internationally, the brand expanded its franchise operations into the British Virgin Islands, Latvia, Japan, Hong Kong, Peru, Sweden, Turkey and Berlin. The Sotheby’s International Realty brand also signed an exclusive 25-year agreement with Countrywide plc, which will build and grow the brand network throughout the United Kingdom.