The Lion's Den
News & Views About Real Estate in the Greater Philadelphia Area
Sotheby’s International Realty – Key Performance Metrics for 2013
Sotheby’s International Realty Affiliates LLC today said its U.S.-affiliated brokers and sales professionals handled 24% more transaction sides in 2013 than 2012 – nearly three times better than the 9.2% gain in home sales sides reported for the overall market by the National Association of Realtors.
The Sotheby’s International Realty® brand’s sales volume grew by 29% in 2013, compared to 19% for the overall market, according to the National Association of Realtors. Sales volume growth in 2013 for Kurfiss Sotheby’s International Realty was slightly higher than that of the SIR brand. Kurfiss SIR is the exclusive affiliate for Sotheby’s International Realty in the Philadelphia region.
The Sotheby’s International Realty brand also reported growth in its global network, which encompasses 52 countries and territories worldwide. At year-end, the network totaled 700 offices, a gain of 6%, and more than 14,500 sales associates, up 13%. Sotheby’s International Realty affiliates worldwide reported 31% same-store growth in sales volume.
“The luxury sector truly led the resurgence in the overall market in 2013,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC, citing a combination of strong interest among international buyers, low interest rates, less inventory and increased consumer confidence in the economy.
Outside the United States, the Sotheby’s International Realty brand expanded its network in 2013 to provide its real estate services in: Cabarete, Dominican Republic; Swatar, Malta; Manila, Philippines; Melbourne and Gold Coast, Australia; Lugano, Switzerland; Dubai; United Arab Emirates; Riyadh, Saudi Arabia; and Panama City, Panama. The Sotheby’s International Realty brand also added six new residential real estate firms to its network across the United States in the following markets: Claremont and Palo Alto, Calif.; Westborough, Mass.; Charlestown, R.I.; Concord, Mass.; and Durango, Colo.
In 2013, the Sotheby’s International Realty brand also won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the sixth year in a row and ranked second overall among the Top 50 Systems across all categories with 250 or more locations.
The Sotheby’s International Realty network is poised for continued growth this year. “We look to continue our worldwide growth, most significantly in Asia with the opening of Beijing Sotheby’s International Realty slated for the first quarter of 2014,” White said.
From a marketing perspective, the brand’s 2013 campaign delivered more than 700 million impressions. At the core of the Sotheby’s International Realty 2013 strategy was its relationships with pre-eminent media powerhouses including The New York Times, The Wall Street Journal and The Telegraph Media Group in both the print and online arenas, developed to showcase unique properties from the brand’s worldwide network.
The most innovative aspect of the Sotheby’s International Realty brand’s 2013 marketing efforts was the launch of a custom iPad application that enabled its complete marketing program to be made available digitally for network members to present to consumers on listing presentations via a unique, interactive format created using the Adobe Digital Publishing Suite.
Last year also saw the expansion of the Sotheby’s International Realty brand’s series of branded websites for specialty markets with the launch of Golf and Historic. Finally, the brand was featured on the ABC Supersign located in New York City’s Times Square at 44th and Broadway for the month of December in collaboration with the New York Stock Exchange. The 15-second video highlighted its lifestyle focus and drove viewers to sothebysrealty.com for more information.
White said the Sotheby’s International Realty brand will continue looking for ways to utilize the latest technologies to enhance the real estate buying experience for consumers and further solidify its position as a leading luxury real estate organization.
The Sotheby’s International Realty network currently has more than 14,500 sales associates located in approximately 700 offices in 52 countries and territories worldwide. Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the network’s brokers and clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.