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Gibson Sothebys International Realty Expands Presence in Arlington

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Acquisition of Bowes Real Estate officially establishes the brand in the Arlington residential real estate market

ARLINGTON, MA (July 8, 2020) Gibson Sothebys International Realty is pleased to announce expansion into the Arlington residential real estate marketplace with the acquisition of Bowes Real Estate, giving the brokerage strengthened foothold in the suburbs west of Boston, Massachusetts. The acquisition adds over 40 sales professionals and one office to Gibson Sothebys International Realtys network of 350 associates serving Boston, Greater Boston, the North Shore, South Shore, and Cape Cod. Representing the firms second acquisition in 2020, the union marks the twenty-third office for Gibson Sothebys International Realty, which acquired MetroWest real estate brokerage Benoit Mizner Simon & Co. in January.

Known as Arlington's Hometown Real Estate Company, Bowes Real Estate was established in 1945 in Arlington, Massachusetts and has long been its market share leader. Now in its 76th business year, the firm specializes in residential sales in Arlington, Belmont, Cambridge, Lexington, Medford, Somerville, Watertown, Winchester, and Woburn, consistently earning a 99.5% customer satisfaction rating. Part of the Real Living Real Estate franchise network, the firm took top honors in the 2019 QE Awards, which recognizes the top real estate offices in service quality and customer satisfaction by independent evaluator, Quality Service Certification, Inc.

Real estate players are facing an environment that requires them to focus on value-creation to remain competitive, said Larry Rideout, Chairman and Co-Owner of Gibson Sothebys International Realty. Our firms have been leaders in their communities since their inceptions, and our complementary expertise will enable us to better serve our clientele. I look forward to continuing our growth trajectory and further strengthening our competitive differentiation.

Greater Boston continues to grow and attract new residents locally, nationally, and internationally, said Paul McGann, President and Co-Owner of Gibson Sothebys International Realty. We are thrilled to welcome Bowes Real Estates associates to help cement our footprint throughout the Greater Boston market, and we anticipate welcoming more with this expanded presence.

Bowes Real Estate associates will adopt Gibson Sothebys International Realtys cutting-edge tools, includinginnovative and strategic marketing programs, exclusive media partnerships, a global referral network, an exclusive technology suite, and access to a worldwide referral network spanning 70 countries and territories.

Joining Gibson Sothebys International Realty is a natural fit for our company, said Robert Bowes, President and Owner of Bowes Real Estate, who will remain an integral member of the Arlington office. In addition to our shared core values, this expansion of talent and geographical reach will greatly benefit our team, as will the firms investment in digital sales processes that will put our associates and their clients well ahead of the curve.

The Greater Boston market is experiencing increased interest and the recent acquisition by Gibson Sothebys International Realty enables the firm to continue to provide high-level service to its growing client base, said Philip White, President and Chief Executive Officer of Sothebys International Realty. Larry Rideout, Paul McGann, and their team have maintained a successful, long-standing relationship in the market for fifteen years and we are thrilled to support their continued growth.

The Greater Boston market is experiencing increased interest and the recent acquisition by Gibson Sothebys International Realty enables the firm to continue to provide high-level service to its growing client base, said Philip White, President and Chief Executive Officer of Sothebys International Realty. Larry Rideout, Paul McGann, and their team have maintained a successful, long-standing relationship in the market for over 15 years and we are thrilled to support their continued growth.

The real estate professionals at Gibson Sothebys International Realty believe that luxury is not a price point, but rather a level of service, offering all buyers and sellers a suite of exclusive services designed to provide value at every stage.

About Gibson Sothebys International Realty

Since 1962, Gibson Sothebys International Realtys unique approach of combining local leadership with a global brand has made it the #1 Massachusetts-based firm by sales volume and average sales price according to REAL Trends, the trusted source for news and research for the real estate brokerage industry. Under Co-Owners Larry Rideout and Paul McGanns leadership for over a decade, the firm has grown exponentially and has cultivated an agent- and technology-focused culture. Through its affiliation with the Sothebys International Realty network, Gibson Sotheby's International Realty offersunrivaled access to properties for sale around the world, as well as access tobuyers and sellers from well beyond its local markets.Today, Gibson Sothebys International Realty is Bostons largest independently owned and operated real estate firm, made up of 23 offices across Eastern Massachusetts.

CONTACT

Becca Logue

Communications Coordinator

Gibson Sothebys International Realty

508.479.2665

Becca.Logue@GibsonSIR.com

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