Sotheby’s International Realty® Tops $150B In 2020 Closings Leading The Brand In Washington.
The Fast-Growing Brokerage Spurs the Second Largest Listing Volume by Brand in Northwest MLS; Executives Plan for Closings and Supply to Double in Spring Sales Surge Over Next 60 Days
Realogics Sotheby's International Realty today announced that it has more than $500 million in active inventory, including new construction listings, the second-highest market share in the Northwest Multiple Listing Service (NWMLS), and more than twice the listing volume per broker than the next largest residential real estate brands in the region. Through 24,000 brokers in 1,000 offices in 75 countries and territories, the global real estate network closed $150 billion in sales in 2020. In 2020, Realogics Sotheby's International Realty’s gross sales increased by 69% to $2.8 billion.
“Such tremendous growth in listing representation is a clear demonstration of consumer trust,” said Dean Jones, President and CEO of Realogics Sotheby's International Realty: “As we celebrate our 11th anniversary since joining the Sotheby’s International Realty® network, we look ahead to another decade with great enthusiasm and respect for our 350+ brokers and employees that comprise the Realogics Sotheby's International Realty nation.”
According to Trendgraphix research, which gathers data from the NWMLS, Realogics Sotheby's International Realty offers 77% of the active inventory for the brand, making it the largest affiliate in Washington. Jones surveyed his brokers and believes that Realogy Sotheby's International Realty's total listings and sales volumes will double over the next 60 days.
“Our brokers and our staff are very busy preparing for a boom in March and April as we enter the spring sales season,” added Jones. “We are investing in our infrastructure to support the increases in our broker roster and approaching listing volumes.”
Realogics Sotheby's International Realty executives welcomed recent additions to the team during a leadership event held on February 24 in the newly opened Bellevue branch office including:
Denise Seavitt – Branch Manager of Mercer Island and Madison Park
Samantha Fetter – Broker Care of Eastside Branches
Ami Bumia – Executive Director of Sales I New Developments
Jessica Kameron – Project Manager I New Developments
Freddy Delgadillo – Business Development Associate
The regional real estate market is, without a doubt, very active and competitive. Year-to-date in 2021, total listings recorded by the NWMLS in King, Snohomish, Pierce, and Kitsap counties have decreased by 52% from 2020 levels, with only 2,640 homes for sale, while pending sales have increased by 12% to 10,674 contracts, indicating demand is outstripping supply. According to the most recent report from S&P/Case-Home Shiller's Price Index, median home prices in the Seattle metro area increased by 13.6 percent in December 2020, second only to Phoenix for the largest percentage value gains in the United States in 2020. However, because home prices are twice as high in Seattle as they are in Phoenix, the city leads the nation in absolute value growth.
RESIDE, distributed quarterly with The Wall Street Journal, is one of many publications released by the brokerage, and features Realogics Sotheby's International Realty’s brokers and new listings alongside stunning editorial content.
“Working with an experienced real estate broker has never been more critical,” said Stacia Smith, Chief Sales Officer and Designated Broker for Realogics Sotheby's International Realty. “It’s only going to get more competitive out there, but our team is well-positioned to support our buyers and sellers with extraordinary service and results.”
Smith acknowledges her brokers are facing an increase in multiple offers—in fact, 80 percent of Realogics Sotheby's International Realty buyers, so far in 2021, are competing in homes and still have many remarkable victories. Similarly, due to exclusive marketing advantages that attract more buyers to homes for sale, listing presentations are becoming increasingly successful.
“We’ve developed a matchless marketing system that’s changed the conversation for our brokers and as a result, they’re winning more listings and we’re selling more homes,” said Stacy Jones, Chief People Officer for Realogics Sotheby's International Realty. “Realogics Sotheby's International Realty is proving that we don’t need a high volume of brokers to represent a high volume of sales—it’s all about supporting our team and using innovations like Realogics Sotheby's International Realty Connect and leveraging our exceptional broker care department, so agents can work more efficiently and grow.”
Property syndication on more than 80 other listing aggregator websites worldwide in dozens of languages, according to Realogics Sotheby's International Realty executives, includes the "Home of the Day" featured on both GeekWire.com and online and in print with Puget Sound Business Journal, as well as property syndication on more than 80 other listing aggregator websites worldwide in dozens of languages. The brokerage's website, RSIR.com, was recently named "Best Website" by Real Trends, an industry authority in residential real estate, while SothebysRealty.com received 37 million unique views in 2020, with property videos played just under 13 million times and 90,000 hours of footage. In 2020, YouTube has more subscribers than any other brand, and earned media attention has more than 34,900 editorial placements.
Realogics Sotheby's International Realty is expanding its broker roster across branch offices in Belltown, Madison Park, Bainbridge Island, Mercer Island, Kirkland, and Bellevue, in addition to increasing listing exposure and market share.
Robyn Hsu, Realogics Sotheby's International Realty's Executive Director of Business Development, said, "It's a really exciting time to join the team and become a global leader in local real estate." “I'm ecstatic that Freddy Delgadillo will be helping me welcome new broker appointments to the Realogics Sotheby’s International Realty Nation.”
Danny Varona believes that today's brokers require distinct advantages in order to stand out in a highly commoditized industry. According to the Northwest MLS's year-end report for 2020, there were 32,888 licensed members who closed on $95.8 billion in sales volume. When compared to the top ten largest brands, Realogics Sotheby's International Realty executives confirmed that their company had the highest sales volume per broker.