Sotheby’s International Realty Affiliates LLC today reported that in 2015 its affiliated brokers and sales professionals achieved approximately $80 billion in U.S. home sales volume (transaction sides multiplied by average sale price). Driven largely by a brand record of over 100,000 total transaction sides, this is the highest annual sales volume performance in the history of the brand and marks a 13% increase from the prior year.
The Sotheby’s International Realty brand also reported growth in its global network, which now encompasses 63 countries and territories worldwide. At year-end, the network totaled 835 offices, a gain of nearly 10%, and more than 18,000 sales associates, up 14%.
“2015 was a record year for domestic franchise sales for the Sotheby’s International Realty brand,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “This year alone, we have also added 12 international, independently owned and operated affiliate brokerage locations to our global network, which will drive accessibility to the increasing level of international buyers in key luxury markets.”
Outside the United States, the Sotheby’s International Realty brand continued to expand into key markets in 2015. The entire Gulf Region is poised for significant growth as the brand’s affiliate brokerage in the region, Gulf Sotheby’s International Realty, acquired the rights to deliver real estate services in Bahrain, Kuwait, Oman, Saudi Arabia and Qatar. The brand saw continued growth entering the countries of Andorra, Chile, Finland, Ireland, The Netherlands, and Nicaragua, while expanding its presence in Italy, Queensland, Australia and in Buenos Aires, Argentina.
The Sotheby’s International Realty brand also added five independently owned and operated residential real estate firms and 73 new offices to its network across the United States. This past year witnessed continued growth by existing affiliate companies through mergers, acquisitions and recruiting. Notable transactions included the coming together of three companies in Vermont and New Hampshire that resulted in one of the largest operators in those states under the Four Seasons Sotheby’s International Realty banner, and the acquisition of South Bay Brokers in Manhattan Beach by Vista Sotheby’s International Realty. Several key open markets were also filled, namely: Baltimore, Md.; Block Island, R.I.; Charlottesville, Va. and Portland, Ore.
Last year The Wall Street Journal/REAL Trends “Top Thousand” ranked agents based on average sales price, recognizing the success of agents that specialize in the luxury real estate segment. The Sotheby’s International Realty brand had 75 of the top 250 (30%) individuals by average sales price. This achievement is reflective of the success of our efforts to further establish the brand as the voice of luxury.