Sotheby’s International Realty is pleased to announce that its affiliated brokers and sales professionals achieved more than $114 billion in global sales volume, the highest annual U.S. sales volume performance in the brand’s history. $102 billion of the global sales volume was achieved in the U.S., marking another record accomplishment for the brand.
“In 2019, the Sotheby’s International Realty® brand continued to achieve solid growth,” said Philip White, president and chief executive officer for Sotheby’s International Realty. “The brand expanded into new countries and territories and entered new markets in the U.S. We continued to make strategic business decisions that benefitted both our independent sales associates and affiliate companies. I am immensely proud of the hard work and dedication from our vast global network, and I look forward to continuing this momentum in 2020.”
Propelled by a strategic business move in March 2019, when Sotheby’s International Realty integrated its affiliate network and company-owned brokerage into one global organization, 50 new Sotheby’s International Realty offices were opened, bringing the brand’s presence to 1,000 offices in 70 countries and territories and more than 23,000 affiliated sales associates worldwide.
Sotheby’s International Realty continued to lead the category with the roll-out of exclusive marketing affiliations and first-ever technology launches, announcing it will soon unveil a new, fully integrated website. The brand’s existing website, sothebysrealty.com, saw another record year with more than 34 million visits, a 14 percent increase year-over-year. Besides, Sotheby’s International Realty was the first real estate brand to launch and implement mixed reality to its Curate by Sotheby’s International Realty sm augmented reality app, which merges the real world with virtual home staging. The platform can be utilized in various home buying and selling scenarios, particularly benefit agents and developers, to help prospective buyers envision their new home. To support the daily business needs of the network’s more than 23,000 independent sales associates, the brand unveiled Current by Sotheby’s International Realty®, a robust marketing suite of technology tools consisting of best-in-class and exclusive apps, which provide sales associates with a distinctive and competitive edge in the market. For partnerships, the brand entered into an affiliation with Bloomberg.com as the exclusive launch sponsor for a new luxury properties marketplace.
The Sotheby’s International Realty brand and its independent sales associates continued its support for New Story, its charitable partner, and a certified 501(c)(3) non-profit organization. As a result, 83 families, who were among those who lost their homes in the 2017 earthquakes, moved into their new homes in Morelos, Mexico. A total of 153 homes in Haiti and Mexico were funded through the initiative.
This year observed significant growth for the brand’s existing affiliate companies in the United States through recruitment efforts and strategic mergers and acquisitions. The brand increased its market presence in Brooklyn, New York, the Greater Boston area, Massachusetts, and Indiana. Last year, the brand also entered several new key markets, expanding the Sotheby’s International Realty network’s presence to 43 states across the country.
Outside the U.S., the Sotheby’s International Realty brand achieved more than USD 12 billion in sales volume and continued to expand into key markets worldwide. In Europe, the brand grew its presence in Monaco; France; and Berlin and Binz, Germany. New offices were also opened in Doha, Qatar, and Paphos, Cyprus, expanding its global presence in marketing luxury listings. In The Caribbean and South America, the brand saw growth in Zapallar, Chile, an upscale residential community located two hours outside of Santiago; and agreements were signed to expand into the Anguilla territory. In the Asia-Pacific region, new offices were opened in Tauranga, New Zealand; and Port Douglas, Hobart, and Perth, Australia.
About Sotheby’s International Realty
Sotheby’s International Realty was founded in 1976 as a real estate service for discerning Sotheby’s auction house clients. Today, the company’s global footprint spans 1,000 offices in 70 countries and territories worldwide, including 44 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the auction house operator. The agreement provided for the licensing of the Sotheby’s International Realty 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’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’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby’s International Realty Affiliates LLC, and the company-owned brokerages are operated by Sotheby’s International Realty, Inc. 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’s International Realty Affiliates LLC and Sotheby’s International Realty, Inc. fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
You are only as good as your partners are, which is why we are in constant search of the best allies! Therefore, we are proud to announce our newest partnership! In the global market context, we have established a strategic collaboration with Andorra Affiliates, an alliance that goes beyond a frequent collaboration between companies to offer great advantages to our clients through exclusive new cross-marketing initiatives.
If you are interested in buying real estate in the Principality of Andorra, reach out to our team, and our professionals will guide you through the process!
The sun, the sea, beautiful weather, and Mediterranean lifestyle, combined with great properties in great locations, are the recipe for a successful business year when it comes to Croatia’s luxury real estate market. The numbers have gone up and are expected to continue growing throughout the following year.
Retrospective of the luxury real estate market in 2018
2018 has generally been kind to Croatia’s luxury real estate market since demands for this sort of property were up by 25 percent compared to 2017. At the same time, the prices of luxury real estate in Croatia rose by 10-15 percent. The average price for a villa ranges between 5000 to 6000 euros for a square meter.
Clients opting for these properties are mostly foreigners, coming primarily from Germany, Austria, the Czech Republic, Slovakia, England, and Scandinavian countries. Also, some inquiries came from Russia and China. The average age of property buyers varies between 45 and 60. Russians and Chinese want the property they buy to match the highest standards, while Europeans are more open to redecorating and reconstructing the property themselves.
Clients have their preferences regarding location, choosing mostly properties at the coastline between Primosten and Trogir (especially in Split) and around the town of Dubrovnik. Besides their beauty, these areas owe their popularity to the proximity of airports, motorways, and marinas. When it comes to the islands, the most popular ones in 2018 were Brac and Hvar.
Despite great results, the market has its issues. The most prominent ones are the somewhat closed banks towards supporting investors and the lack of offer suited for clients aiming at luxury properties.
Predictions for the luxury real estate market in 2019
Still, positive market trends are expected to continue in 2019, with expected price growth of up to 10 percent, followed by even greater demand for luxury real estate in Croatia. The start of construction of several tourist resorts with 5-star hotels is expected in 2019, along with some world-class hotel brands to the Croatian market, such as 4seasons and Marriott.
An invitation with the text “Everything Happened on the Square – Galerija Mala” in 1989 marked the beginning of a small yet important gallery in the heart of Zagreb.
At the very beginning, the gallery’s management stated that they would only present the most current production and contemporary art. Galerija Mala was one of the first private galleries in Croatia.
Located between Mala kavana and Ban cafe, Galerija Mala represents the cultural point of the northern side of the main Zagreb square. It acts as a sales gallery of works of Croatian authors and thus promotes Croatian art.
Photo credit: Galerija Mala
History of Galerija Mala
Opened just before the holidays, the gallery started working with the exhibition of Miroslav Šutej, a prominent and popular academic artist whose career was then at its peak. After the holidays, the gallery hosted presentations of the book “Zagreb before the beginning,” the Golden Bule facsimile, the new Zagreb postcards … Thanks to the attractive location, right next to Harmonica, the rich and always up-to-date program, Galerija Mala became an unavoidable place of cultural encounters. Social events are scheduled throughout the year, under the continuous and independent guidance of Mirna Hromatko Reiser.
The gallery space was formerly used by the publishing organization Mladost. For the needs of the gallery, space was rebuilt by the Architectural Design Institute of Zagreb. In just over 40 square meters, this gallery is home to many artwork and activities. For example, sales and promotion of paintings and graphics, fine plastic, art jewelry, bibliographic and art-related publications, graphic maps, and graphic sheets.
Simple and effective interior
The interior of the gallery is fascinating. The ground floor is dominated by a rock placed opposite the passage, so it’s intended to display paintings and graphics. The second rock is located opposite the entrance and decorated for shelves and showcases. It is suitable for exhibiting other works. The gallery’s central space has remained free so that visitors can see exposed works of art. Since 1989, space has kept all its essential features. It is always painted in neutral white, suitable for displaying all the artwork.
Photo credit: Galerija Mala
Among many artists whose works were exhibited in Galerija Mala, it is hard to point up anyone in particular. Still, we will mention Nikola Reiser, Marijan Muljevic, Milan Steiner, Luj Logic, Stip Nobil, Vasko Lipovac, and Dimitar Popovic. Particularly noteworthy was the „Kravate“ exhibition, an authoring project by Andrew Seifried, also presented in Zadar and Dubrovnik.
The gallery also receives numerous inquiries from artists living and working in Europe, especially from Vienna, Ljubljana, Budapest, and Venice. One of the Gallery’s goals is to enhance and expand the cooperation with artists and raise the cultural and artistic level, not only of the Gallery but of Zagreb as one of the most interesting tourist European cities.
The Gallery can also boast of participating in numerous hotel and business interiors furnishing with artwork and graphics. Artworks can breathe a whole new life into our everyday living space and refresh it. The leadership of Galerija Mala recognized this a long time ago.
As the leading luxury real estate agency in Croatia, it is important to have strong and recognized partners. We are proud to announce Marina Frapa Resort Rogoznica, the most beautiful Mediterranean marina, our newest partner. Ensuring our clients’ top quality service implies providing them with an array of luxury opportunities and possibilities. It is only logical to choose the Marina Frapa Resort Rogoznica as our partner and support.
– We are proud to have such a partner and to have the ability to offer our clients the services that it provides. Since the majority of the luxury properties in our portfolio are located on the Croatian coast and islands, the Marina Frapa Resort Rogoznica is an ideal port to recommend to our clients as a berthing opportunity throughout the year – Marko Pažanin, Director / Partner at Croatia Sotheby’s International Realty
Marina Frapa Resort Rogoznica wears a beauty crown among the Adriatic marinas, and it is certainly one of the most beautiful nautical ports of the Mediterranean. It is situated in the central part of the Croatian coast, between Šibenik and Split, in a lovely bay of Soline (Rogoznica), sheltered from all directions.
-We are extremely proud that the largest real estate brand, Sotheby’s International Realty, has recognized Marina Frapa Resort Rogoznica as an important strategic partner in Croatia. By signing this business partnership, we have started a new business cycle and opened additional opportunities for joined projects with Croatia Sotheby’s International Realty, that would be of great benefit for both parties and their clients – Domagoj Grgić, Sales & Marketing Manager at Marina Frapa Resort Rogoznica
About the Marina Frapa Resort Rogoznica
The marina center is an artificially built island that disposes of a 396 m length transit jetty and suitable for megayachts, the hotel “Otok” and other nautical, business, and servicing facilities. The on-shore marina complex includes 10 jetties with 450 fully equipped berths and a guarded area for 150 dry berths. The on-shore hotel “Kopno” features all the other luxury elements and facilities one would need in a unique location like this.
The entire Marina Frapa Resort Rogoznica complex covers an area of more than 136 000 m2. There are a 24-hour vessel surveillance service and video surveillance at the entrance into the marina.