Realogics Sotheby's International Realty is #1 in Percentage Sales Volume Growth Among the Top 10 Largest Residential Real Estate Brands In the PNW.
As Fast-Growing Brokerage Earns Top Ranking for Luxury Sales and Productivity per Broker in 2020, Gross Sales Production increased 69 percent; Executives Plan Roster & Division Expansions in 2021
Realogics Sotheby's International Realty (RSIR) reported a market-leading rise in 2020 as its gross sales volumes rose by 69% to $2.8 billion in 2020, including a variety of record sales, including the highest residential closing on record at $60 million for Eastside Waterfront Homes.
“Congratulations to the more than 350 brokers and employees who propelled Realogics Sotheby’s International Realty’s trajectory in 2020 to become a global leader in local real estate,” said Dean Jones, President, and CEO of Realogics Sotheby's International Realty. “Our team is poised for future growth in 2021. We’ll maintain a standard of excellence by the company we keep, the clients we represent, and the results we create—one sale at a time.”
According to Trendgraphix research, which aggregates data from the Northwest Multiple Listing Service, Realogics Sotheby's International Realty ranked #1 among the top ten residential real estate brands in 2020 in the following categories:
#1 PERCENTAGE INCREASE OF ANNUAL GROSS SALES VOLUME: +69%
#1 AVERAGE LISTING SOLD PRICE: $1,125,300
#1 AVERAGE BUYER PURCHASE PRICE: $1,040,700
#1 AVERAGE ACTIVE LISTING PRICE: $1,798,071
#1 PERCENTAGE OF PRODUCING BROKERS: 75%
#1 ACTIVE LISTING VOLUME PER PRODUCING BROKER: $1,538,000
#1 AVERAGE SALES VOLUME PRODUCTIVITY PER AGENT IN 2020: $9,655,000*
*Includes off-market sales not listed on NWMLS based by 285 licensed brokers and branch managers, not including transaction managers.
According to S&P/Case-Home Shiller's Price Index, the Seattle-Bellevue metro area was a standout for the nation's housing market for much of 2020, amid the COVID-19 pandemic and industry disruptions due to both social and political headwinds. Strong market fundamentals, record low-interest rates, and a robust network of affiliated brokers, both locally and nationally, helped Realogics Sotheby's International Realty sets the industry benchmark for individual broker production in 2020, according to Chief Sales Officer and Designated Broker Stacia Smith.
“With COVID protocols and restrictions, our entire team had to evolve to the changing landscape very quickly, and so when a market rally occurred in Q3-2020, we were ready,” added Smith. “I’m proud of our brokers who demonstrated leadership in the market and helped thousands of buyers and sellers reach their goals during such a difficult time.”
Smith mentions that Realogics Sotheby's International Realty (RSIR) brokers are widely known for listing and selling the most expensive properties in the area, but she added, "Luxury is an experience and not a price point," as all property styles and home values are proudly represented by the company. She also recognized the New Ventures Division of Realogics Sotheby's International Realty, which in 2020 was one of the largest portfolios of recently closed, pending, and active listings in the country.
The resilience of Realogics Sotheby's International Realty was promoted by retaining a healthy culture and ethics of corporate work when going to where the next trend was in the business. Business executives worked to help and inspire workers and brokers during the pandemic, both personally and professionally. This included frequent inspiring updates and monthly video conferencing sessions highlighting best practices from broker colleagues and strategic advisors. A new era of training curriculum was provided by Realogics Sotheby's International Realty employees that tackled real-time psychological and business challenges faced by industry and consumers alike.
“We did not lay-off or furlough any staff—instead, we doubled-down as a team to lead our brokers through a trying year that was both volatile and productive,” said Stacy Jones, Chief People Officer for Realogics Sotheby's International Realty. “During this process, we kept our focus on the trendlines and not the dire headlines to advise our clients while performing brokerage activities in a new, safe and responsible manner.”
Realogics Sotheby's International Realty executives were also awarded a number of prestigious awards in 2020: Stacy Jones was the "Women of Influence" of the Puget Sound Business Journal in 2020 and Dean Jones was included in the "Power 100" Influencers publication. In addition, Realogics Sotheby's International Realty's website, operated by Andrea Savage, Vice President of Marketing, was awarded "Best Brokerage Website" by Real Trends, a residential real estate industry authority.
Looking ahead, by adding to the broker roster and exploring new business segments, Realogics Sotheby's International Realty executives are preparing for expansion, including a new Mountain + Resort Division based on the growing trend for exurban properties and second homes. The progressive brokerage will also reopen unique retail partnerships, including the B-Bar Café and Bar in downtown Bellevue, once approved by Washington Governor Jay Inslee's COVID guidelines, and a new winemaker partnership and retail experience to be revealed in downtown Kirkland soon.
“As we’re welcoming new agent appointments each week, we have bolstered our broker care and marketing teams to support their business plans,” said Robyn Hsu, Executive Director of Business Development for Realogics Sotheby's International Realty. “We spent the last two years building up our infrastructure, systems, and new branch offices like in downtown Bellevue—so in 2021, we will focus more directly on expanding our roster and growing their market share.”
The year 2020 also marked Realogics Sotheby's International Realty's 10th anniversary as Realogics Sotheby's International Realty's executives extended the firm's commitment well into the next decade as Washington's largest regional Sotheby’s affiliate. Nationally, Sotheby's International Realty Affiliates LLC announced that, as of Q3-2020, the domestic sales volume had already exceeded $90 billion and established what is likely to be a record year for the brand.