Sotheby's International expands markets, hits record revenue

Sotheby’s International Realty Affiliates Inc. has reported its highest ever global sales volume.

The firm says that in 2017, its real estate agents and affiliates generated around U$108 billion through a total of approximately 22,000 agents and brokers and nearly 950 offices worldwide.

The bulk of that was in the US ($96bn) with $12 billion added internationally.

The US also saw expansion through new affiliates, offices and markets but there was expansion internationally too with new markets in Spain, Belgium, Rhodes, Vietnam, Indonesia and Sri Lanka; and several key markets in India.

"In 2017 we witnessed the expansion of the global economy," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The Sotheby's International Realty brand is in 69 countries worldwide, so we were well-positioned to both contribute to and benefit from that growth. The success of the global economy, coupled with our strategic goals, yielded outcomes better than we could have ever anticipated in 2017."

The brand managed to increase its share of emerging affluent consumers with almost half of all traffic to its site coming from 25-44 year olds.

As personalization has begun its reign over the luxury mindset, the consumer journey has also experienced a shift; it is our mission, as a preeminent luxury residential real estate brand, to continue to identify and execute new and authentic ways to connect with discerning clients," said Kevin Thompson, chief marketing officer, Sotheby's International Realty Affiliates LLC.

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