{"id":11766,"date":"2022-02-22T16:00:00","date_gmt":"2022-02-22T21:00:00","guid":{"rendered":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/sothebys-international-realty-achieves-historic-year-with-record-204-billion-in-global-sales-volume\/"},"modified":"2022-02-22T16:00:00","modified_gmt":"2022-02-22T21:00:00","slug":"sothebys-international-realty-achieves-historic-year-with-record-204-billion-in-global-sales-volume","status":"publish","type":"post","link":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/sothebys-international-realty-achieves-historic-year-with-record-204-billion-in-global-sales-volume\/","title":{"rendered":"Sotheby&#8217;s International Realty Achieves Historic Year with Record $204 Billion in Global Sales Volume"},"content":{"rendered":"<style type=\"text\/css\">\n<p>\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}<\/p>\n<\/style>\n<p><span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Feb. 22, 2022<\/span> \/PRNewswire\/ &#8212; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3449200-1&amp;h=2128218958&amp;u=http%3A%2F%2Fwww.sir.com%2F&amp;a=Sotheby%27s+International+Realty\" rel=\"nofollow noopener\">Sotheby&#8217;s International Realty<\/a>&nbsp;is pleased to announce that its global network achieved a record US$204&nbsp;billion in 2021 global&nbsp;sales volume, a 36% increase in sales growth year over year, as U.S. cities saw a resurgence of interest following the pandemic and sales activity in secondary and resort markets around the world remained strong. The brand&#8217;s U.S. sales volume grew by 33.8% year over year, significantly outpacing NAR&#8217;s national increase of 20.6% from the prior year,&sup1; underscoring the brand&#8217;s leadership in the high-end market.&nbsp;<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n                        <a href=\"https:\/\/mma.prnewswire.com\/media\/452508\/SOTHEBY%27S_INTERNATIONAL_REALTY_LOGO.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n                    <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/452508\/SOTHEBY%27S_INTERNATIONAL_REALTY_LOGO.jpg\" title=\"Sotheby's International Realty logo. (PRNewsFoto\/Sotheby's International Realty) (PRNewsfoto\/Sotheby's International Realty)\" alt=\"Sotheby's International Realty logo. (PRNewsFoto\/Sotheby's International Realty) (PRNewsfoto\/Sotheby's International Realty)\"\/><br \/>\n                        <\/a>\n                <\/p>\n<\/p><\/div>\n<p>&quot;Real estate proved to be a hot investment in 2021,&quot; said <span class=\"xn-person\">Philip White<\/span>, president and CEO of Sotheby&#8217;s International Realty. &quot;Once again, agents affiliated with Sotheby&#8217;s International Realty outperformed the industry average and achieved record-breaking home sales as buyers continued to depend on their trusted expertise to navigate a constrained market.&quot;<\/p>\n<p><b>Reinvigorated Interest in Cities and Continued Strength in Secondary Markets Fueled Sales<\/b><\/p>\n<p>The Sotheby&#8217;s International Realty<sup>&reg;<\/sup> brand&#8217;s existing presence in major metropolitan and resort markets around the world ensured the brand was well-prepared to meet the renewed interest in cities and the sustained boom of secondary home markets.<\/p>\n<p>Interest in U.S. cities such as <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Miami<\/span>, <span class=\"xn-location\">San Francisco<\/span>, and <span class=\"xn-location\">Austin<\/span> returned to pre-pandemic levels and helped trigger record-breaking sales. Other U.S. cities, such as <span class=\"xn-location\">Atlanta<\/span>, <span class=\"xn-location\">Houston<\/span>, and <span class=\"xn-location\">Los Angeles<\/span>, also saw strong performances in 2021.<\/p>\n<p>With remote and hybrid work models influencing buyer behavior in 2021, secondary markets and resort areas continued to produce high demand and increased prices. In the U.S., areas such as <span class=\"xn-location\">Florida<\/span>, <span class=\"xn-location\">Hawaii<\/span>, and <span class=\"xn-location\">Colorado<\/span> saw record performances. Globally, second home markets in <span class=\"xn-location\">Australia<\/span>, <span class=\"xn-location\">Spain<\/span>, and <span class=\"xn-location\">Switzerland<\/span> and resort areas in the <span class=\"xn-location\">Bahamas<\/span>, <span class=\"xn-location\">Cayman Islands<\/span>, Turks &amp; Caicos, and <span class=\"xn-location\">Puerto Rico<\/span> achieved notable growth and record sales.&nbsp;<\/p>\n<p>As buyers continued to prioritize properties that offered more space and land, states with no income tax such as <span class=\"xn-location\">Florida<\/span>, <span class=\"xn-location\">Texas<\/span>, and <span class=\"xn-location\">Wyoming<\/span> offered added appeal, while the <span class=\"xn-location\">Bahamas<\/span>, <span class=\"xn-location\">Cayman Islands<\/span>, <span class=\"xn-location\">Switzerland<\/span>, <span class=\"xn-location\">Hong Kong<\/span>, and <span class=\"xn-location\">Singapore<\/span> remained popular for their favorable tax structures and saw significant gains.<\/p>\n<p><b>An Award-Winning Year for the Brand&#8217;s Innovative Technology and Offerings<\/b><\/p>\n<p>Sotheby&#8217;s International Realty continued to lead the industry with its technology and marketing efforts. Sothebysrealty.com saw more than 46 million visitors in 2021, a 25% increase year-over-year and the most visits to the website in its history. The site was also named Best Real Estate Website in the People&#8217;s Choice Category in the 25th Annual Webby Awards, recognizing the brand&#8217;s efforts to introduce&nbsp;translations in 14 languages, nearly 60 currency conversions, and a mobile-first approach to emphasize the method in which today&#8217;s clients are buying and selling homes.<\/p>\n<p>Property videos, which exploded in popularity during the 2020 lockdown, have continued to trend as more buyers start the initial viewing process online. Videos produced by <i>Sotheby&#8217;s International Realty<\/i> agents were played nearly 90 million times &ndash; a 50% increase year-over-year.<\/p>\n<p>Sotheby&#8217;s International Realty was also awarded the honor of 2021 Top Luxury Brokerage by Inman, the industry&#8217;s leading source of real estate information. The prestigious award is a testament to the brand&#8217;s achievements in luxury marketing, record-breaking sales, and high-quality service.<\/p>\n<p>&quot;Buyers continue to rely on virtual technology to make their homebuying process more convenient,&quot; said Chief Marketing Officer, <span class=\"xn-person\">Bradley Nelson<\/span>. &quot;As a brand, we have always sought out to establish the highest standard for marketing luxury properties and I am proud that our marketing and technology investments have been recognized as the &#8216;best&#8217; in the industry in 2021.&quot;<\/p>\n<p><b>Fortifying a Strong Network with Global Growth<\/b><\/p>\n<p>During another record year, Sotheby&#8217;s International Realty continued to strategically expand its presence around the world. In 2021, the brand opened 86&nbsp;new offices, bringing the brand&#8217;s total presence to more than 1,000 offices in 79 countries and territories with more than 25,000 independent sales associates worldwide.&nbsp;<\/p>\n<p>&quot;Sotheby&#8217;s International Realty continued to expand internationally in key markets,&quot; said <span class=\"xn-person\">Tammy Fahmi<\/span>, senior vice president of global servicing and strategy for Sotheby&#8217;s International Realty. &quot;In 2021, the brand opened offices in five new territories and our international sales volume grew by 56% year over year. Our global presence is a draw for our agents and clients, and we continue to evaluate markets that will support our strategic growth.&quot;<\/p>\n<p>In the EMEIA region, the brand expanded to <span class=\"xn-location\">Oman<\/span> and <span class=\"xn-location\">Morocco<\/span> and opened three new offices in the Swiss Alps region. In the <span class=\"xn-location\">Caribbean<\/span> and Latin American region, the brand opened new offices in <span class=\"xn-location\">Jamaica<\/span> and <span class=\"xn-location\">St. Kitts &amp; Nevis<\/span> during a boom of <span class=\"xn-location\">Caribbean<\/span> interest.<\/p>\n<p>As affluent individuals looked to purchase homes in a market with limited inventory, <i>Sotheby&#8217;s International Realty<\/i> agents acted as true global real estate advisors. Referral sales volume within the brand&#8217;s global network increased by nearly 80% year over year and the average sales price of these referrals increased by 21% year over year.<\/p>\n<p>&quot;Our ability to produce another historic year amid record demand and low inventory shows beyond a doubt that <i>Sotheby&#8217;s International Realty<\/i> agents are resourceful, committed, and informed to meet and exceed the needs of their clients,&quot; concluded White.<\/p>\n<p>&sup1;Copyright &copy;2021 &quot;Existing Home Sales.&quot; NATIONAL ASSOCIATION OF REALTORS&reg;. All rights reserved. Reprinted with permission. January 20, 2022, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3449200-1&amp;h=998136915&amp;u=https%3A%2F%2Fcdn.nar.realtor%2Fsites%2Fdefault%2Ffiles%2Fdocuments%2Fehs-12-2021-overview-2022-01-20_0_0.pdf&amp;a=https%3A%2F%2Fcdn.nar.realtor%2Fsites%2Fdefault%2Ffiles%2Fdocuments%2Fehs-12-2021-overview-2022-01-20_0_0.pdf\" rel=\"nofollow noopener\">https:\/\/cdn.nar.realtor\/sites\/default\/files\/documents\/ehs-12-2021-overview-2022-01-20_0_0.pdf<\/a><\/p>\n<p><b>Sotheby&#8217;s International Realty <\/b><\/p>\n<p>Sotheby&#8217;s International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby&#8217;s auction house. As of Q4 2021, the company&#8217;s global footprint spans more than 1,000 offices located in 79 countries and territories worldwide, including 47&nbsp;company-owned brokerage offices in key metropolitan and resort markets. In <span class=\"xn-chron\">February 2004<\/span>, Realogy entered a long-term strategic alliance with Sotheby&#8217;s, the operator of the auction house. The agreement provided for the licensing of the <i>Sotheby&#8217;s International Realty<\/i> name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby&#8217;s International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby&#8217;s auction house, established in 1744. For more information, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3449200-1&amp;h=2067196850&amp;u=http%3A%2F%2Fwww.sothebysrealty.com%2F&amp;a=www.sothebysrealty.com\" rel=\"nofollow noopener\">www.sothebysrealty.com<\/a>.<\/p>\n<p>The affiliate network is operated by Sotheby&#8217;s International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby&#8217;s International Realty, Inc.&nbsp; Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby&#8217;s International Realty Affiliates LLC and Sotheby&#8217;s International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.<\/p>\n<p><b>CONTACT<br \/><\/b><span class=\"xn-person\">Melissa Couch<\/span><br \/>Senior PR Manager<br \/>Sotheby&#8217;s International Realty<br \/>973-407-6142<br \/><a target=\"_blank\" href=\"mailto:melissa.couch@sothebysrealty.com\" rel=\"nofollow noopener\">melissa.couch@sothebysrealty.com<\/a>&nbsp;<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<\/div>\n<p>SOURCE  Sotheby&#8217;s International Realty<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY67706&amp;Transmission_Id=202202221100PR_NEWS_USPR_____NY67706&amp;DateId=20220222\" style=\"border:0px; width:1px; height:1px;\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Feb. 22, 2022 \/PRNewswire\/ &#8212; Sotheby&#8217;s International Realty&nbsp;is pleased to announce that its global network achieved a record US$204&nbsp;billion in 2021 global&nbsp;sales volume, a 36% increase in sales growth year over year, as U.S. cities saw a resurgence of interest following the pandemic and sales activity in secondary and resort markets around the [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":0,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-11766","post","type-post","status-publish","format-standard","hentry","category-sothebys-international-realty"],"_links":{"self":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts\/11766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/comments?post=11766"}],"version-history":[{"count":0,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/posts\/11766\/revisions"}],"wp:attachment":[{"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/media?parent=11766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/categories?post=11766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.wordpress.realogydev.com\/anywherere\/wp-json\/wp\/v2\/tags?post=11766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}