- Partner
Sotheby's International Realty achieves record sales in 2020
NEW YORK, N.Y. (February 25, 2021) – Sotheby’s International Realty is pleased to announce that its Agents sales professionals achieved a record-breaking global sales volume of $150 billion in 2020, representing a nearly 32% increase in sales volume compared to the previous year.
This was possible because the definition of the word "home" has changed for consumers around the world. Thanks to a long-standing commitment to innovation, Sotheby's InternationalAgents were able to seamlessly helpAgents clients navigate the changing market dynamics caused by the global pandemic with existing technology offerings, driving business momentum.
"Agents affiliated with Sotheby's International Realty have quickly adapted to the impact of the global pandemic," said Philip White, president and CEO of Sotheby's International Realty. “Thanks to the innovations we introduced nearly a decade ago, Agents impossible became possible for our locations and Agents . Their adaptability in safely advising clients has further solidified our position as the leader in luxury real estate.”
Long-standing commitment to virtual technology paved the way to success
"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 way and provide an outstanding customer experience - however buyers prefer to search for their new home. Virtual technology has been at the forefront of our marketing strategy for a number of years and is as natural to us as our commitment to quality service."
The brand also unveiled its new website, sothebysrealty.com, available in 14 languages and nearly 60 currency conversions, to continue to serve its growing international customer base and drive referrals globally.
A year of strategic growth and record results
Despite travel restrictions, Sotheby's International Realty remained committed to expanding its global presence and achieving strategic growth. In 2020, the brand opened more than 50 new offices around the world, bringing the brand's total presence to nearly 1,000 offices in 75 countries with approximately 24,000 independent sales associates worldwide.
The brand's existing affiliates around the world continued to grow in 2020. Sotheby's International Realty increased its overall presence in the U.S. to 45 states. Sotheby's International Realty facilitated affiliate expansions through 12 domestic M&A transactions, including California, Colorado, Florida, Massachusetts and Washington.
The brand also continued to expand internationally in key markets and opened offices in seven new territories. In Europe, the brand expanded into Ukraine, Romania, Montenegro and Germany. In the Asia-Pacific region, the brand opened its first office in South Korea and expanded in the Caribbean and Latin America with two new offices in Paraguay and Antigua & Barbuda.
"Our international presence is one of our biggest competitive advantages," says Tammy Fahmi, Vice President, Global Operations and International Servicing. "Our brand's locations are in the most desirable places around the globe, so our customers know they can rely on our local market expertise no matter where they want to buy or sell."
As wealthy individuals sought second homes in markets around the world, Agents International Agents acted as global real estate advisors, and brokerage volume rose 42% to $2.9 billion in completed sales.
"Our 2020 results prove what is possible when you focus on quality above all else. We continue to be proud to be the real estate brand of choice for so many luxury real estate professionals and high net worth clients. We will continue to work tirelessly to prove that their trust is well placed with us," said White.
Sotheby's International Realty
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