Network’s global growth defies slow markets

The Sotheby’s International Realty global network now encompasses more than 600 offices and almost 12 000 sales associates in 45 countries and territories worldwide, having grown by almost 7% in the past year despite difficult real estate conditions in many markets.

The Sotheby’s International Realty brand has now also acquired the license from the Sotheby’s Auction House to develop the brand in Australia, the only region where it did not previously hold the rights.

“The strong growth of the group in the past year demonstrates the value that both real estate professionals and clients place on the services we offer, as well as the power of the Sotheby’s International Realty name and its reputation for excellence,” says Lew Geffen, chairman of Sotheby’s International Realty Affiliates.

“One of the network’s goals for last year was to continue to expand in key luxury markets worldwide, and that was achieved with the addition of 12 new companies worldwide and the acquisition of the licensing rights for Australia, which will give us representation in a critical international market.”

Outside the US, the brand has expanded its network in the past 12 months to provide its real estate services in: Milan in Italy; Costa Brava and Costa Blanca in Spain; Estonia; Aruba and, most recently, Taiwan and Israel.

In the US, it has added 10 new or merged residential real estate brokerage firms to its network.

And in South Africa, Sotheby’s International Realty also continues to expand with new franchises recently opened to serve homebuyers and sellers in the Ballito, Vaal, Blouberg and West Coast areas.

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