CNBC broke the news this morning that for 2016, the Sotheby’s International Realty Affiliates LLC affiliated brokers and sales professionals achieved approximately $95 billion in global sales volume, the highest annual sales volume performance in the history of the brand, driven largely by a brand record of over 127,000 transactions. 

 

“During a year when the words “slowdown” and “slump” were used to describe the luxury housing market, 2016 turned out to be a banner year for Sotheby’s International Realty.” – CNBC                                                                                                   

Global Growth

The Sotheby’s International Realty® brand also reported growth across its global network, which now encompasses nearly 70 countries and territories worldwide. At year-end, the network totaled 880 offices and more than 20,000 sales associates.

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Outside the United States, the Sotheby’s International Realty brand achieved $10 billion in sales volume in 2016 and continued to expand into key markets. The brand saw continued growth in Europe, entering the countries of Austria, Croatia, Slovakia, Slovenia and Montenegro. The brand also expanded in the Asia-Pacific region through affiliations in Fiji and Shanghai and continued to grow in Hong Kong and greater Thailand. Finally, the brand expanded its presence in the Caribbean with the addition of affiliates in Roatan and St. Vincent & the Grenadines.

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In the United States, the Sotheby’s International Realty brand achieved $85 billion in sales volume in 2016 and also added seven independently owned and operated residential real estate firms as well as 45 new offices to its network across the country.  This past year witnessed continued significant growth by existing affiliate companies through talent attraction and mergers and acquisitions, most notably increasing the brand’s market presence in Lexington and Concord, Massachusetts, throughout southern Rhode Island and on the island of Kauai, Hawaii. The brand also entered several key new markets last year, namely: Gulf Shores, Alabama; Pittsburgh, Pennsylvania; and Virginia Beach, Virginia.

 Innovative Technology

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The Sotheby’s International Realty brand was at the forefront of interactive technology in 2016 with the introduction of 3D Tours with Virtual Reality capability on sothebysrealty.com. Additionally, the site saw the most traffic in its history with nearly 22 million visits, a 54% increase year-over-year.Capture2

The brand also launched the first luxury real estate app for Apple TV, featuring professionally curated high-resolution photography and high-definition video giving consumers the opportunity to explore homes on a screen larger than ever before. An alliance with Juwai.com was launched in 2016 that gives the Sotheby’s International Realty network an edge to generate Chinese homebuyer interest on one of the world’s most prominent real estate websites with over two million monthly visitors. As a truly international brand, Sotheby’s International Realty has the most global representation on Juwai.com, displaying luxury listings from 66 countries and territories.

 

“CEO Philip White told CNBC in a recent interview that Sotheby’s makes “the consumer the real focus, and that’s important when you do business in the luxury space. We made a decision early on to provide the consumer a high level of exceptional service and true global exposure.”‘- CNBC

 

The Sotheby’s International Realty brand was the No. 1 real estate company represented in two of the six categories that comprise the annual REAL Trends/The Wall Street JournalTop Thousand” report. The Sotheby’s International Realty brand claimed 45 of the top 250 sales associates in the Individual Sales Volume category, more than any other real estate company. The brand also had the highest combined individual sales volume from sales associates in the same category. In addition, the Sotheby’s International Realty brand had the most individuals represented in the Individual Average Sales Price category, holding 17 of the top 50 spots (34%), further establishing the strength of the Sotheby’s International Realty brand as a leader in luxury real estate sales.

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The real estate market in Calgary is once again becoming fast paced as we inch ever so closer to spring. All the while, mortgage insurance rates are due to increase (see below) and there are signs of some stability overall. While sellers still have to be highly strategic and careful, buyers are still enjoying strong selection, which sets up for what will be a very busy spring.
So how does one choose the real estate brand to best represent a sale? Local exposure is always important, but with other hot investor markets looking at Calgary as a viable option, every property in every price range should utilize the best of a global marketing reach. For buyers, expansive knowledge and qualifications are critical to negotiate the best purchase as possible.
This is where Sotheby's International Realty Canada offers the best of both. Please enjoy the short video below and see why I am so proud to be working with the best brand in the world.
     
 
SOTHEBY'S: THE BRAND
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2017 ROAR AWARD NOMINATION
 
   
    

This month, I have been honored to have been nominated for the Mentorship Distinction ROAR Award.
Last year, I dedicated special attention to sharing my experience and knowledge with a newly minted realtor who joined our SIRC team. Not only did she have a successful year by any account, but she outperformed the local, provincial and national sales standards by substantial margins. I won't take credit for her great success, but was very proud and humbled to offer critical insight along the way in order to ensure her success.The mentorship process taught me a lot along the way, and I will look forward to the rewarding process again in the near future.The ROAR Awards were developed for REALTORS®, by REALTORS®, to recognize those who demonstrate role model-caliber performance in specific areas of real estate.These awards provide a unique opportunity to celebrate the exceptional talent and hard work of Calgary and area REALTORS®. They recognize REALTORS® for their professionalism, excellence and dedication to their careers, mentorship, and how they contribute to their communities.These prestigious awards identify each recipient as a true professional, with qualities to which all REALTORS® can aspire.
 
 
 

Calgary and area REALTORS®, as well as members of the public,
submit nominations in five key award categories:

  • People's Realtor
  • Commitment to Education
  • Community Impact
  • Marketing Excellence
  • Mentorship Distinction
 

 
This is the second time in my career that I have been nominated in a category.  I am so honored to have the privilege of working with amazing clients, friends and colleagues. I hope to make you all proud!
 
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NEW CMHC MORTGAGE RULES START MARCH 17th
 
 
 
 
Homeowner mortgage loan insurance premiums are changing as of March 17. For the average CMHC-insured homebuyer, this means an increase of around $5 to your monthly mortgage payments.
  • Mortgage loan insurance helps protect lenders against mortgage default and enables consumers to purchase homes with a minimum down payment of 5% with interest rates comparable to those with a 20% down payment.  Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price.

  • CHMC's new premium rates will be effective for new mortgage loan insurance requests submitted on or after March 17, 2017.  The current mortgage loan insurance premiums will apply for applications submitted to CHMC prior to this date, regardless of the closing date.  As is normal practice, complete borrower and property details must be submitted to CMHC when requesting mortgage loan insurance.

  • The changes do not impact mortgages currently insured by CMHC.
 
 
 
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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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