Realogics Sotheby's International Realty Among the Top 10 Largest Real Estate Companies
The firm’s resales surpass $1 Billion in 2017, a pace of growth that is credited to RSIR’s exclusive marketing platforms, international buyers, and broker micro-branding
Representatives of Realogics Sotheby’s International Realty (RSIR) confirmed today the firm has posted more than $1 billion in closed and pending home resales year to date, not including $225 million in new construction condominium presales that are also pending. The firm pegged a 40.6-percent growth rate for sales volumes year-over-year so far in 2017, according to Trendgraphix, leading the top ten largest real estate brands. The relatively boutique-sized company, comprised of just 225 brokers, also leads its immediate peer group in the average selling prices ($985,000), average buyer contracts ($839,500), average listing prices ($2,177,900) and total listing production per broker ($2,910,710) when comparing on a trailing 12-month basis per NWMLS data as of August 31, 2017.
Noted for being a positive disruption in the local real estate industry, Realogics Sotheby’s International Realty leads other game changing companies with percentage unit growth and dollar volumes year so far in 2017 over the prior year.
“We are tremendously proud of our brokers for establishing RSIR as a global leader in local real estate,” said Jennifer Johnsen Cameron, Vice President of Brand Development for the firm. “These impressive statistics speak to the caliber of our brand, the strength of our team and the reputation we’ve earned with buyers and sellers in one of the most competitive and dynamic markets in the US.”
Since commencing operations in 2010, RSIR has been recognized by the Puget Sound Business Journal among the largest residential real estate firms and as one of the top 100 fastest-growing private companies in Washington for six consecutive years. RSIR executives credit their broker-centric marketing platforms and unparalleled strength in reaching international buyers as the primary catalyst for penetrating a local business climate that has long been dominated by regional brands.
Though boutique in size, RSIR leads its peer group in a number of significant categories.
“We’ve worked hard to distinguish our brand and offer exclusive marketing platforms that provide our brokers and clients with every available advantage in the industry,” said Stacy Jones, Co-owner and Vice President of RSIR. “In many ways, we’re a marketing company that’s become a full service real estate brokerage and a global brand that’s become hyper-local. While we are known as a leader in luxury around the world, we are honored to represent all property types by deploying world-class marketing with matchless representation at all price points.”
Jones references many first-to-market strategies like broker micro-branding with Evoker films, and custom publishing with original content and exclusive media partnerships with Puget Sound Business Journal, Geekwireand Tiger Oak Publications, among others. Meanwhile, the global reach of the Sotheby’s International Realtybrand is exemplified by an average of more than 2.1 million unique monthly website visits to SothebysRealty.com for the first quarter of 2017, with 57-percent of the traffic originating from outside the US led by India, Canada and China. The global network is comprised of 850 offices with 20,000+ brokers representing more than 51,000 properties. In 2017, Lifestory Research named Sotheby’s International Realty the “Most Trusted Residential Real Estate Brokerage” in the US. Its franchise owner, Realogy, was also named one of the world’s most ethical companies for the 6th consecutive year as recognized by Ethisphere Institute.
Trust is a fundamental component when working with a broker.
“This acknowledgement of trust is the very hallmark of our brand,” said Dean Jones, President and CEO of RSIR. “It’s been that way since 1744, when Sotheby’s was representing many of the world’s most important treasures in the auction house, and now this legacy extends to our real estate transactions today.”
Jones refers to his brokers as Global Real Estate Advisors and suggests that their approach is more similar to that of a wealth manager of a family portfolio than a transaction negotiator.
“Sometimes the right decision is to not buy or sell,” adds Jones. “Looking after your client’s best interests is what it is all about, rather than focusing on a single sale within a transaction business. That’s how our brokers earn their client’s business and trust for life.”
Johnsen Cameron reports that more than 60 brokers have joined RSIR in the past year and the firm’s recent expansions include new annexes in Belltown and Kirkland. Additionally, she says RSIR has more than $800 million in current inventory between resale and new construction properties, which includes high-rise condominium towers like NEXUS, where more than 83-percent of the 382 units are presold 24 months before occupancy.
“Our supportive brokerage model doesn’t require a high volume of brokers to generate a high volume of business,” adds Johnsen Cameron. “Our ownership, executive team and broker care group don’t sell or compete with their brokers – we built this company for them and our growth in market share is a testament to their hard work.”
RSIR will be represented by more than four dozen representatives at the Global Networking Event in Las Vegas from September 24th – 27th when an estimated 2,500+ affiliates of the brand will convene to share best practices and learn from corporate leaders about the exciting growth within the world’s preeminent global and luxury real estate network.
Information was obtained by sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perform independent due-diligence before acting upon data provided herein. E&OE.