Last year was a great year for real estate! Sotheby’s International Realty Affiliates LLC reported that in 2018 its affiliated brokers and sales professionals achieved more than $112 billion USD in global sales volume. This marks the highest annual sales volume performance in the history of the brand.
“Experts predicted that 2018 would be a slow year for the global real estate market,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “Despite the forecast, our talented affiliated companies and their sales associates continued to perform at the top of their game to drive a year-over-year sales volume increase that is truly remarkable. We are going to keep the momentum going in 2019 and we will continue to empower the Sotheby’s International Realty network by offering innovative products, tools, and research to provide best in class service.”
A Record Year Locally
Sierra Sotheby’s International Realty’s 2018 “Associate of the Year” represented the largest land transfer in Nevada history. Jay Margulies represented Blockchains, LLC. with the purchase of the remaining land at the Tahoe-Reno Industrial Center. The history-making purchase involved nine major transactions and 37 separate pieces of land totaling 68,000 acres, which is roughly the size of the entire city of Reno, Nev.
The local affiliate also represented both sides of the highest reported sale ever in Incline Village, Nev. The expansive lakefront home sold for $36.5 million.
“Sierra Sotheby’s International Realty represented a spectrum of sales in 2018 from spectacular new and historic lakefront properties on the shores of Lake Tahoe to luxury resort homes located across the region’s golf and ski resorts,” said Peter Strand, president of Sierra Sotheby’s International Realty. The list includes a diverse collection of homes throughout California and Nevada that sold for $1 million or more. We credit the power of the Sotheby’s International Realty brand and our unique global reach for connecting many of these idyllic buyers with their Lake Tahoe dream home.”
The Sotheby’s International Realty brand also reported growth across its global network. At year-end, the network totaled more than 990 offices in 72 countries and territories and more than 22,500 affiliated sales associates worldwide.
In the United States, the Sotheby’s International Realty brand achieved more than $100 billion USD in sales volume in 2018. This year saw continued significant growth by the brand’s existing affiliate companies through talent attraction as well as mergers and acquisitions.
Outside the United States, the Sotheby’s International Realty brand achieved more than $12 billion USD in sales volume in 2018 while continuing to expand into key markets.
2018 was an impactful year for the brand with the roll-out of new tools and offerings. Sotheby’s International Realty became the first real estate brand to launch and implement a virtual staging augmented reality app, transforming the home buying and selling experience for sales associates and consumers with the launch of Curate by Sotheby’s International Realty℠.
The brand entered a custom-publishing relationship with The Wall Street Journal / Barron’s Group to present RESIDE®, a bespoke luxury lifestyle magazine providing affiliate companies around the world a turnkey solution to creating a customized branded magazine. The publication’s inception also birthed the brand’s new podcast series. In partnership with Inman, an exclusive channel called Leading in Luxury was launched, featuring experts from the Sotheby’s International Realty brand discussing trends, best practices and innovations in luxury real estate.
The Sotheby’s International Realty brand website, sothebysrealty.com, saw another record year with more than 30 million visits, a 13 percent increase year-over-year, with 13 percent of traffic generated from new users.
The Sotheby’s International Realty brand’s affiliated companies and sales associates raised nearly $1 million USD to date for New Story, the brand’s charitable partner and a certified 501(c)(3) non-profit organization. The funds raised have gone directly to the construction of new homes in Morelos, Mexico for families who lost their homes in the 2017 earthquakes.
The Sotheby’s International Realty® brand claimed 40 of the top 250 sales associates in the Individual Sales Volume category of the 2018 REAL Trends/The Wall Street Journal “The Thousand.” In addition, 12 teams affiliated with the Sotheby’s International Realty brand were recognized as being among the top 250 teams in the nation by sales volume. The annual report ranks America’s top 1,000 residential real estate agents and teams based on 2017 annual sales volume and transaction sides.
About Sierra Sotheby’s International Realty
For more information, visit www.sierrasothebysrealty.com, search @SierraSIR on Twitter, follow us on Facebook, or call one of our offices: Reno, 775-384-6900; Squaw Valley, 530-581-1800; Incline Village, 775-832-4900; Heavenly Village/Stateline, 530-541-4002; South Lake Tahoe, 530-494-7600; Tahoe Donner, 530-587-3505; Downtown Truckee, 530-587-3500; Tahoe City,530-583-4004. Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website.