Sotheby’s International Realty Affiliates LLC today reported that in 2017 its affiliated brokers and sales professionals achieved approximately $108 billion USD in global sales volume, the highest annual sales volume performance in the history of the brand.
“In 2017 we witnessed the expansion of the global economy,” said Philip White, president and chief executive officer, 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 over $96 billion USD 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, Colorado; and in Southern Florida and Key West. The brand also entered several key new markets last year, namely: Roseville, California; Avalon and Stone Harbor, New Jersey; the Central and Western Adirondacks regions of New York; Greater Greenville, South Carolina; and southeast Wisconsin.
Outside the United States, the Sotheby’s International Realty brand achieved over $12 billion USD 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.
Reaching the Consumer
The Sotheby’s International Realty brand website, sothebysrealty.com, saw another record year with nearly 27 million visits, a 25% increase year-over-year, with 60% of visitors coming from outside the United States and 17.5% 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.