Sotheby's International Realty Is Tops Among Wealthy Consumers

August 4, 2008

The Sotheby's International Realty brand was rated the most prestigious real-estate company by high net-worth consumers in New York City-based Luxury Institute's 2008 Luxury Brand Status Index survey. Kurfiss Sotheby’s International Realty, with headquarters in Bucks County and offices in the Lehigh Valley, Center City Philadelphia and the Main Line, is the only real-estate brokerage to carry the affiliation in southeastern Pennsylvania.

According to the Institute, respondents who would recommend the brand say it offers "high-end properties," "exclusive listings," "great customer service" and an "excellent reputation."

A national sample of 1,666 wealthy American consumers was surveyed online. The average income was $348,000 and average net-worth was $3.7 million.  Respondents were asked to rate brands along four pillars of brand stature: consistently superior quality; unique and exclusive; social status as a product consumed by people who are admired and respected; and self enhancement, in that the brand makes the consumer feel special across all aspects of the customer experience
 
In addition, the survey also measures three key outcome metrics: worthiness of a significant price premium; willingness to recommend the brands to people they care about and why or why not; and brand preference as the brand most likely to be considered the next time a purchase is made.
 
"This year, even luxury real estate is facing major challenges," said Milton Pedraza, chief executive officer, the Luxury Institute. "In these critical moments, wealthy consumers are looking for the most expert and trustworthy real-estate brands and agents to handle their transactions. Our surveys are conducted with independent panels of wealthy consumers, tabulated by third party analysts, and are the purest expression of the voice of high net-worth consumers."

The Luxury Institute is an independent and impartial ratings, reviews and research institution that is the trusted voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research to guide high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute operates the Luxury Board (www.LuxuryBoard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. For more information, please go to www.LuxuryInstitute.com.