The growth of the Sothebys International Realty brand in 2014 can be seen in all aspects of the business. Momentous achievements suchas an increase in sales volume, global growth, and innovative marketing resulted in one of the most outstanding years the brand has seen.
Sothebys International Realty ended the year with the highest sales volume performance in the history of the brands franchise system. Sothebys International Realty Affiliates LLC reported that in 2014 its affiliated brokers and sales professionals achieved $70 billion in U.S. home sale transaction volume marking a 17% increase from the prior year (transaction sides multiplied by average sale price).
President and CEO of Sothebys International Realty Affiliates LLC, Philip White, commented The Sothebys International Realty network grew substantially in 2014. The luxury sector continues to outperform the overall market, which reflects the value consumers see in high-end real estate to grow their wealth, as well as the increasing level of international buyers in key luxury markets.
Other significant gains seen in 2014 include:
- Globally, the Sothebys International Realty brand is represented in 60 countries and territories ending the year with approximately 760 offices, a gain of 8.5%, and more than 16,570 sales associates, a gain of 14%.
- In 2014, the brand added 13 new residential real estate firms and 45 net new offices to its network across the United States. Some of the markets entered include: Houston, Texas; Steamboat Springs, Colorado; Santa Rosa Beach, Florida; Sunset, South Carolina; Richmond, Virginia; Marblehead, Massachusetts; Wilmington and Topsail Island, North Carolina; Kailua, Hawaii; Woodinville, Washington; Malibu, California; Lancaster, Pennsylvania; Brookline and Jamaica Plain, Massachusetts; and Pleasanton, California.
- Outside the United States the brand expanded in Belgium, Beijing, Belize, the Canary Islands, Luxembourg, India, Hainan, St. Martin, Poland and St. Moritz.
- Last year marked the launch of the Sothebys International Realty Global Referral system, which was designed to streamline the transfer of referrals electronically within the brands worldwide network. This Global Referral system allows network members to assign referrals, manage them through closing, and run detailed reports with features such as language translation and currency conversion.
- Marketing wise, the brands 2014 campaign delivered more than 800 million impressions. The 2014 campaign strategy was to maintain its relationships with pre-eminent media powerhouses in both the print and online arenas including: The New York Times, The Wall Street Journal, The Telegraph Media Group, Google, Architectural Digest, Bloomberg.com, the Hong Kong Tatler and the Financial Times, developed to showcase unique properties from the brands worldwide network.
- A lifestyle video serious showcasing unique properties and lifestyles from around the world, Extraordinary AnglesSM was also launched by the brand in 2014. Each webisode takes viewers on inspiring tours through some of the finest properties represented by the Sothebys International Realty brand in the worlds most distinct locations.
- For the eighth year in a row, the Sothebys International Realty brand won Franchise Business Reviews Best in Category for Real Estate Franchisee Satisfaction award. In addition, the brand moved to first in the overall top 50 from fourth in 2014, and first among the Top 50 Systems with 250 or more units, up from third in 2014.
These advances truly set the Sothebys International Realty brand a part from competition. Here at Gibson Sothebys International Realty we take pride in being part of such an extraordinary network. We are eager to see the brands continual growth in 2015.
Source: Sotheby's International Realty