Sotheby's International Realty Sees 32% of Sales Growth and Achieves $150 Billion in Global Sales Volume as 2020 Changes Definition of the word "Home".

Sotheby's International Realty® is pleased to announce that its affiliated brokers and independent sales professionals have achieved a record $150 billion in global sales in 2020, an increase of almost 32 percent year-on-year in sales growth, as the definition of “home” has changed for consumers around the world. Thanks to a long-standing commitment to innovation, Sotheby's International Realty® agents were able to help customers navigate the changing market dynamics of the global pandemic with existing technology offerings that boosted business momentum.

“Agents affiliated with Sotheby’s International Realty quickly pivoted to address the impact of the global pandemic,” said Philip White, president and CEO of Sotheby’s International Realty. “Thanks to innovations we pioneered nearly a decade ago, our affiliated companies and agents made the impossible possible. Their adaptability to serve clients safely further extended our position as a leader in luxury real estate.”

Long-Standing Commitment to Virtual Technology Paved Way for Success

As the buying and selling process became increasingly virtual, Sotheby's International Realty continued to lead the industry and was well-positioned to meet the needs of consumers.

Agents at Sotheby's International Realty accelerated the use of the brand's existing video, virtual reality, and live-streaming technology to create new forms of content that engaged buyers and set a new standard for luxury property marketing. On sothebysrealty.com, buyers can safely tour more than 6,000 properties via virtual reality or video. Property videos were also popular on social media, with the brand's YouTube channel receiving 43 million views or more than one million hours of viewing time.

“As a leader in the luxury real estate industry, Sotheby's International Realty is able to anticipate trends,” said Chief Marketing Officer, Bradley Nelson. “Our priority remains to present listings in the best possible manner and to provide a superb end-user experience however buyers prefer to search for their new home. Virtual technology has been at the forefront of our marketing strategy for several years and comes as naturally to us as our commitment to high-quality service.”

The brand also unveiled a new website, sothebysrealty.com, available in 14 languages and nearly 60 currency conversions, to continue to serve its growing international clientele and fuel referrals worldwide. With 37 million visits in 2020, the website brought in a significant amount of traffic for the brand. Property videos created by Sotheby's International Realty agents on the site were particularly popular, with nearly 13 million views and more than 90,000 hours watched in 2020.

A Year of Strategic Growth and Record Achievements

Sotheby's International Realty® remained committed to expanding its global footprint and achieving strategic growth despite the travel restrictions. In 2020, the brand opened more than 50 new offices worldwide, bringing the brand's total presence to nearly 1,000 offices in 75 countries and territories with around 24,000 independent sales associates worldwide.

Existing affiliated companies around the world continued to grow in 2020. Sotheby's International Realty® increased its total domestic presence to 45 countries around the country.

Sotheby's International Realty® facilitated the expansion of its affiliates through 12 domestic M&A transactions, including California, Colorado, Florida, Massachusetts, and Washington.

The brand has also continued to expand internationally in key markets and has opened offices in seven new territories. In Europe, the brand has expanded to include Ukraine, Romania, Montenegro, and Germany. In the Asia-Pacific region, the brand opened its first office in South Korea and expanded to the Caribbean and Latin American regions with two new offices in Paraguay and Antigua & Barbuda.

“Our international footprint is one of our greatest competitive advantages,” said Tammy Fahmi, vice president, global operations and international servicing. “Our brand’s locations are in the most desirable places around the globe, so our clients know they can rely on our local market expertise wherever they are looking to buy or sell.”

Sotheby's International Realty® agents acted as true global real estate advisors as affluent individuals sought secondary homes in markets around the world, resulting in a 42 percent increase in referral volume to US$2.9 billion in closed sales volume.

“Our 2020 results prove what is possible when you focus on quality above all else. We remain proud to be the real estate brand of choice for so many luxury real estate experts and affluent clients. We will continue to work tirelessly to prove their trust has been well placed,” concluded White.

About the Brand

Sotheby's International Realty® was established in 1976 as a real estate service for Sotheby's auction house's discerning clients. The company now has nearly 1,000 offices in 75 countries and territories around the world, including 45 company-owned brokerage offices in major metropolitan and resort markets. Realogy and Sotheby's, the auction house's operator, formed a long-term strategic alliance in February 2004. The agreement called for the Sotheby's International Realty name to be licensed and a franchise system to be developed. The franchise system is made up of an affiliate network, with each location owned and operated independently. Sotheby's International Realty provides a variety of operational, marketing, recruiting, educational, and business development resources to its affiliates and agents. Affiliation with the venerable Sotheby's auction house, founded in 1744, also benefits affiliates and agents. Visit www.sothebysrealty.com for more information.

Sotheby's International Realty Affiliates LLC manages the affiliate network, while Sotheby's International Realty, Inc. manages the company-owned brokerages. Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and a provider of real estate brokerage, relocation, and settlement services, owns both companies. The principles of the Fair Housing Act and the Equal Opportunity Act are fully supported by both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc.