The Condo Comeback: NEXUS Will Be "First and Foremost" Among the "Few" High-Rises for Sale in Downtown Seattle

Following a record apartment construction surge that delivered more than 12,000 new rental housing units in downtown Seattle, it’s curious that, since 2011, only 866 condominiums were added. What’s more extraordinary is that so few of those new condominiums remain available to purchase today.  Simply put, 99-percent of what was built for sale in the last five years has been sold and more than two-thirds of what’s planned for delivery by 2019 is already reserved through priority pre-sale.

Among the few planned condominium buildings in the downtown area is NEXUS – a 41-story, 382-unit high-rise, located at 1200 Howell Street, is slated to break ground in January 2017 with occupancy by mid-2019. Its developer, Vancouver-based Burrard Group, took a unique stance on the market by choosing to build for sale, while 94-percent of the historic supply was built for rent. A demand to own was clearly underscored by hundreds of pre-sale buyers lining up on June 4th, some of which slept overnight, in order to secure a reservation for priority pre-sales. Reservations are offered for a $5,000 refundable deposit and provide prospective home buyers with a unit specific and first right of opportunity to purchase when the homes are officially released for sale in the New Year.

NEXUS reservation holders are savvy and now enjoy a preferred position in the next development cycle, according to Michael Cannon, Sales Director for the development.

“Our buyers realize the market is rising and see the value of securing an option to purchase without fear of multiple offers, price escalation or worse – missing out on the opportunity to purchase a home in one of the few developments likely to deliver before 2020,” said Cannon. “NEXUS isn’t quite like anything that has been offered before in downtown Seattle – progressive architecture, flexible floor plans, robust amenities, and high-tech features – NEXUS has become an exclamation point on the buy vs. rent debate.”

Cannon believes an unprecedented number of apartment dwellers are considering their options with ownership, especially at more attainable price points below $600,000, as down payments require are set at 5-percent of the purchase price and mortgage payments are typically the same as prevailing rents in comparable apartments. 

Read the Full Article Here...

Sotheby's International Realty® Apple TV App

Sotheby’s® International Realty is proud to present a new app for Apple TV which allows users to experience an innovative and exciting new way to explore the real estate market.

The app allows users to fully immerse themselves in a luxury real estate experience and explore the world’s most extraordinary properties with a expertly curated selection of high resolution photography and high definition video.

Using Siri voice dictation, users can browse properties by city, state, or country or explore the lifestyle categories; whether you are interested in a metropolitan experience or you are a wine connoisseur interested in vineyards and wineries.

Find a property that sparks your interest? You will be able to contact a sales associate directly through the app.

Download the app today on the Apple TV app store. Search for “Sotheby’s International Realty

To learn more please visit: Sotheby’s International Realty | Apple TV App

2017 Real Estate Market: What Millennials Need to Know

A new report by Cicely Wedgeworth for realtor.com has shown that the 2017 housing market is going to be shaken up by an influx of prospective first-time millennial home buyers. Here is what you need to know:

The Great Real Estate Revolution Of 2017

According to a recent survey by realtor.com, in 2016, only 33% of people planning on purchasing a home were first-time buyers. This upcoming year, however, is slated to see a dramatic increase in this demographic, which is expected to jump to 52%, of which, a staggering 61% of perspective buyers are under the age of 35. This means that the 2017 real estate market will subsequently see an increase in competition for housing amongst first time home buyers.

Competition Will Be Intense

With this influx of first time millennial home buyers, the competition for housing within the real estate market will be more substantial than 2016. Jonathan Smoke, chief economist for realtor.com, recommends trying to “’avoid bidding wars and higher prices spurred by a potential increase in millennial buyers’” by considering a winter home purchase. When examining the 2017 real estate market, it is also important to investigate which types of properties will be the most sought after.

The Suburbs

In 2017, more millennials will be moving away from renting and towards first time home ownership. With this trend, we see a migration of this demographic away from urban areas and towards the suburbs. According to the recent realtor.com survey, both 50% of millennials and baby-boomers report interest in living either in the suburbs or outlying suburbs. This trend will create increased competition within the market for properties located in these areas.

Baby-Boomers And Millennials Competing Within The Real Estate Market

It seems that the suburbs are not the only thing that baby-boomers and millennials can agree on. With millennials prioritizing a sound financial investment, there will be a focus on “safety, privacy and more space” according to realtor.com. There is expected to be an increase in this demographic seeking single-family homes and townhomes. Babyboomers have a similar focus within their demographic, with 71% of perspective buyers seeking single-family homes.

With both demographics seeking these types properties, it can be expected that these single-family homes will be in high demands, driving costs upwards and availability down.

To read more, please visit: Realtor.com | First-Time Millennial Buyers Poised to Revolutionize the Real Estate Market in 2017

What's Next: Your November Event Calendar Update

Your comprehensive guide, take a peek at what’s going on! From holiday parades in Belltown and brilliantly lit botanical gardens in Bellevue, to an autumn harvest charity dinner on Bainbridge Island, here’s what’s happening around the sound:

Select Links Below to View Full Calendar of Events in Each Community
Bainbridge Island Events >>>     ♦     Seattle Events >>>     ♦     Eastside Events >>>

Property Spotlight: A Gem in the Rough!

A gem in the rough! This spectacular Italian contemporary villa is almost finished and needs last finishing touches prior to move in or resale. The potential is endless! 

Features include sweeping views of the sound from every room, 121 feet of low bank waterfront, a terraced outdoor kitchen with imported Italian pizza oven and top of the line appliances including a La Cornue custom range. 

The main residence lives on 2 levels and boasts an open circular floor plan. A 1200 square foot ADU on the lower level leads to an outdoor entertaining area and garden.

Explore the Property >>

SIR.COM Integrates New Technologies

Sothebysrealty.com Adds 3D Tours with Virtual Reality Capability for Property Detail Pages

Sotheby’s International Realty Affiliates LLC today announced that its global website, sothebysrealty.com, now supports 3D Tours on its property detail pages allowing real estate consumers the opportunity to fully immerse themselves in homes listed by the Sotheby’s International Realty® brand. The 3D Tours will also feature a Virtual Reality Tour (VR) experience that can be viewed through a compatible device such as an Android phone or VR headset.

The 3D and VR Tours are produced by strategically placing specialized cameras throughout a home to create a result that transforms the traditional way people view homes online. The 3D and VR Tours add an additional layer of content to the existing property detail pages on sothebysrealty.com which also provide a written description, high-resolution photographs and high-definition videos.  At launch, the Sotheby’s International Realty brand will have 3D Tours available on over 1,000 properties that are viewable on desktop, tablet or smartphone.

“Introducing 3D and VR Tours on sothebysrealty.com is just another example of how we are keeping theSotheby’s International Realty brand on the cutting edge while creating an immersive experience for consumers,” said John Passerini, global vice president, interactive marketing at Sotheby’s International Realty Affiliates LLC.  “Distance can present a challenge when looking to buy a home and virtual reality has provided a provocative solution. This technology is allowing buyers to purchase homes without having to physically travel to view them, which is especially relevant to the global clientele we serve.”

The sothebysrealty.com site experienced 16 million user sessions in Q1-Q3 of 2016, a 60% increase year-over-year. Property detail pages on the brand site support Matterport, a past winner of the 2014 Realogy FWD innovation summit, and additional compatible 3D Tours.

In coordination with this announcement, Sotheby’s International Realty is also a real estate launch partner forMatterport’s CoreVR release— the largest collection of virtual reality content across multiple disciplines.  With the adoption of CoreVR, Sotheby’s International Realty will be able to offer both a 3D and VR experience.  Additionally, Sotheby’s International Realty property listings on Mansion Global, the digital luxury real estate destination from Dow Jones, will also be equipped with the 3D Tour feature.

Click here for an example of a 3D Tour as shown on a current luxury property listing on theSotheby’s International Realty website.

The Sotheby’s International Realty network currently has more than 19,000 affiliated independent sales associates located in approximately 850 offices in 65 countries and territories worldwide.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realtymarketing programs.  Each office is independently owned and operated.

On the Scene in the San Juan Islands: Legacy Homes Tour

Given the Manhattanization of Seattle, arguably the fastest-growing metropolis in America, who wouldn’t desire an island escape that’s close yet a world apart from the frenetic energy and congestion of city life? This collection of 172 named islands and reefs in San Juan County have long been a secret getaway for Pacific Northwest families. But increasingly the San Juan Islands have been found by a new generation of affluent homebuyers, so it’s little surprise that the tides are rising.

“Without question, the San Juan Islands are among the most beautiful and protected natural sanctuaries in the world – perfectly positioned between the global cities of Seattle, Vancouver and Victoria, BC,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty. “Unlike their East Coast harbinger markets in the Hamptons, Cape Cod or Martha’s Vineyard, The San Juans remain refreshingly low-key and relatively affordable for now but perhaps not for much longer.”

Jones refers to a recent article by Mansion Global entitled “It’s Not Just Chris Pratt and Bill Gates Who Are Flocking to The San Juan Islands,” citing data from Realtor.com listing the island county as the fastest-growing amongst the top luxury housing markets in the US. Despite $1 million+ home sale volumes doubling during the first half of 2016 compared with the year prior, experts suggest the region is still globally undervalued.

In the Legacy Homes Report, published by William Hillis, Research Editor and Publisher with RSIR, he concludes that not only are San Juan County homes of similar scale and finish both newer and substantially less expensive than Long Island homes but several Legacy Homes being featured are offered for well below replacement costs.

The opportunity to explore these homes firsthand was seized during a recent Legacy Home Tour hosted by RSIR and Wally Gudgell, an Orcas Island resident and real estate broker with Windermere Real Estate. From October 5 – 9th, dozens of brokers and prospective buyers arrived by land, sea and air to visit Legacy Homes ranging in value from below $2 million to $17 million. The lifestyle showcase included harbor-to-harbor seaplane transfer by Kenmore Air, accommodations by Rosario Resort and wine tastings by DeLille Cellars.

Read the Full Article Here >>

What's Next: Your Event Calendar Update

Your comprehensive guide, take a peek at what’s going on! From “Foodie Friday” at Columbia Winery in Woodinville and the Friends of the Library Book Sale on Bainbridge Island, to Seattle Haunts at the Georgetown Morgue, here’s what’s happening around the sound:

Select Links Below to View Full Calendar of Events in Each Community
Bainbridge Island Events >>     ♦     Seattle Events >>     ♦     Eastside Events >>

New Listing! Spectacular Italian Contemporary Villa

Gem in the Rough! Spectacular Italian contemporary Villa 3/4 finished needs last finishing touches prior to move in or resale. Potential is endless! Sweeping views of sound from every room: main residence lives on 2 levels with open circular floor plan, top of line appliances included La Cornue custom range. 1200 SF ADU on lower level leads down to outdoor entertaining area/garden; terraced outdoor kitchen with imported Italian pizza oven, 121 feet of waterfront & low bank! Must see!

RES91616 Undisclosed, Seattle
Offered at $2,980,000

Read More >> 

Art & Home | Kitchen Culture

The latest volume of Art & Home is here! This month, Iyna Bort Caruso takes a bite out of Kitchen Culture and invites you to dine in some of the finest kitchens from around the world.

“Knock-your-socks-off gorgeous,” is how Jamie Gold, a San Diego, California-based certified kitchen designer and author of “New Kitchen Ideas That Work” describes kitchens at the top end of the market. “It’s about brand. It’s about impression. It’s what the neighbors are doing–only better.”

Today’s kitchens are swoon-worthy showplaces of good looks, high performance and sophisticated wizardry.

Mass market is out. Fresh design interpretations are in. As dominions of personal expression, kitchens are places homeowners put their signature and showcase their style with handcrafted cabinetry and bespoke fittings and finishes.

A recent survey of more than 500 architecture firms by the American Institute of Architects reinforces the role of kitchens as the command center of the home, with a caliber of appliances and appointments that not only reflects homeowners’ tastes but also makes them and their guests feel good.

Explore the entire issue of Art & Home here

What's Next: Your Event Calendar Update

I am thrilled to bring you this week’s event calendar! Your comprehensive guide, take a peek at what’s going on! From Cider Summit Seattle to the San Gennaro Festival and the Boats Afloat Show in Chandler's Cove, here’s what’s happening around the sound.

Select Links Below to View Full Calendar of Events in Each Community
Seattle Events >>    ♦    Eastside Events >>

New Listing in Seattle

Fabulous Views. Charming Mid Century Maple Leaf home; good bones on level lot. Great views include Mt Rainer, Seattle Skyline, Space Needle, Olympic Mountain Range and Green Lake. Sold "as is." Excellent building site for Spectacular VIEW Home. Minutes from downtown Seattle, Northgate, University District and South Lake Union. Enjoy walks around Green Lake and Maple Leaf Neighborhood. Light Rail coming soon!

313 NE 81st Street | Seattle, Washington | Offered at $748,888

Read More >> 

My City. Your Neighborhood.

The Pacific Northwest is home to a diverse collection of communities, dynamic lifestyles and real estate micro-climates. I invite you to discover market trends and perspectives in your area, where every residence is a Realogics Sotheby's International Realty home. 

Upon entering the second half of 2016, I offer this timely look at year-over-year market performance in 16 key markets throughout the Puget Sound region. Boasting with enviable economic fundamentals, the Seattle metro area is among the nation's fastest-growing residential markets, with most neighborhoods reaching or exceeding their prior peaks for median home prices. I am proud to keep the good company of leading resident experts who live and work in the neighborhoods they serve, while at the same time, benefiting from a global network like no other. So whether your next home is around the corner or around the world, I'm here to help. 

Puget Sound Business Journal says Nearly 22% of Seattle's Renters are Qualified Homebuyers

Marc Stiles reported in a recent Puget Sound Business Journal  feature that “More than a fifth of renters in Seattle could afford to buy houses,” a fact that is contributing to the seemingly ever-rising cost to rent in Seattle.

Seattle’s rent is currently growing faster than any other city in the U.S., this according to the Seattle Times as June 2015 vs. June 2016 rent comparisons revealed a staggering 9.7% increase. What’s more, “rents are soaring so fast that June’s 1.1 percent monthly price gain in the Seattle area beat out the growth that Chicago and Washington, D.C., have seen in an entire year.

As Stiles says, “there are various reasons why apartment rents are soaring in the Puget Sound region, and an overlooked one is that Seattle has a relatively high number of renters who could buy but are not necessarily looking to do so.” This statistic, as the article outlines, puts “Seattle fifth on a new Zillow list of markets with the highest share of renters who are qualified to buy.” And when these potential buyers choose to rent, it “increases competition for apartments,” which drives rents up, “hurting lower-income households the most.”

So why are qualified potential homeowners choosing to rent? The Puget Sound Business Journal points to low inventory and increasing home prices, but looking to the booming “Silicon Forest” in Seattle also provides some insight.

“The reality is that much of the demand for apartments in Seattle comes from newly transferred job seekers that prefer to rent for a few years before deciding to buy,” said Dean Jones, President & CEO of Realogics Sotheby’s International Realty. “They want to be comfortable in their new city and ensure the job is sustainable before making larger commitments. The result is that these downtown apartment towers where qualified homebuyers currently rent act as incubators for future condominium demand.”

A graph recently released by JLL reveals that millennials are drawn to Seattle for the abundant job prospects, relative affordability compared to other markets, and no state income tax, a vastly different climate than found in an area such as San Francisco. This allure is one of the factors contributing to Seattle’s fastest growing rents and second fastest growing median home prices.

While there are many potential buyers currently renting, those who do choose to leverage current market conditions are facing steep competition, as new condominium development projects slowed following the 2007 economic downturn. When the opportunity to reserve or purchase an in-city condo arises, consumers are jumping at the opportunity as NEXUS Condominiums, which will be delivered in 2019, are over 80% reserved.

There is still an opportunity to secure a home at NEXUS, and Michael Cannon, Director of Sales, welcomes all current and prospective homebuyers to visit the interim Preview Center at 2715 1st Avenue in Seattle for more information.

Luxury Outdoor Living: A Collection of Our Favorite Outdoor Spaces

Realogics Sotheby’s International Realty presents a collection of outdoor luxury homes, stretching from the San Juan Archipelago down to Brown’s Point and beyond. If all we needed from life was a roof over our head, beauty, elegance and the perfect kitchen wouldn’t matter. But we each purchase a home with daydreams of where the kids will play, throwing extravagant outdoor parties for our friends or curling up next to the fireplace with the one we love and a glass of wine. Daydreams become reality in our homes…the place where dreams come true.

British Columbia Government Charges 15% to Non-Resident Foreign Buyers in Effort to Curb Skyrocketing Real Estate Prices

Foreign buyers in Vancouver will be paying more for investment properties this month (beginning August 2). The Canadian provincial government of British Columbia has enacted a 15 percent real property transfer tax on foreigner-purchased properties in Metropolitan Vancouver, adding $300,000 to the cost of a two-million-dollar home. The tax is the response of Premier Christy Clark’s government to data indicating that foreign absentee buyers have been driving up home prices past the point of their affordability to native B.C. residents. Recent data showed that foreign buyers spent more than CN$1 billion on B.C. property in just five weeks, 86 percent of it in the Lower Mainland.[1] “People who use housing solely as a means to make money rather than living and working in Vancouver should be taxed as such,” Vancouver Mayor Gregor Robertson is reported as saying.[2]

As recently as last fall, the Clark government had steadfastly denied that foreign purchases were a significant driver of home price inflation in the region, instead attributing higher prices to limited supply, high domestic demand, development regulations, and low interest rates. Hence, officials including B.C. Finance Minister Mike de Jong had dismissed any notions that foreign buyers be targeted for disincentives, as was being advised at that time by Canada’s then Prime Minister Stephen Harper. Harper had reportedly said, “Some reports have suggested that speculative foreign nonresident buyers are a significant factor in driving homes out of the price range of average families, especially in Vancouver and Toronto. If speculators are driving up the cost of housing to unaffordable levels, that’s something the government can and should address … Other countries, like Australia, have put in place regulations that limit the ability of foreign buyers to purchase existing houses for investment purposes.”[3]

Indeed, the restrictions enacted by Australia in 2010 appeared harsh. Those rules prohibit nonresident foreign investors from buying existing homes, and this constraint can only be lifted if they plan to redevelop or build new housing. Relief for temporary residents may be approved by the government before they purchase or build a home; but once approved, such residents can only purchase that one property for their personal residence while in the country. Once it is no longer their primary residence, they must sell it within three months. Yet despite the severity of the law, observers had reported no meaningful reduction in demand in recent years.

Read the Full Article >>

Seattle Rentals Show Largest Increase in Nation

A Zillow report released on July 22 shows Seattle rents rising faster than in any other U.S. city, increasing 9.7% from June 2015 to June 2016. Average monthly costs have risen nearly $500 over the last four years and have now exceeded the $2,000 mark for the first time in Seattle’s history. Although there has been nearly constant construction adding thousands of new units, the rental market continues to grow undeterred. In 2011, Seattle’s rent was about $300 more than the U.S. average; now, in 2016, it has more than doubled to $620 above the U.S. average.

In a Seattle Times article, Svenja Gudell, Zillow’s chief economist says there are 3 main factors that continue to drive rental prices up. The first is the near-constant stream of new hires relocating to the region as Seattle companies continue to hire. Coming from out-of-area, these people are more likely to rent first before buying. Second, there is intense competition and low inventory in the home sales market, driving more people to rent when they would otherwise buy. Thirdly, many of the newest apartment developments are luxury or high-end and start at a higher average sales price.

In a market with such volatile rent prices, however, we believe that the intense competition in the home-buying market is actually an argument to make an even greater effort to buy. In fact, we will start to see a shift towards homeownership, particularly as new, for-sale condominiums are being developed in Seattle after a long run of developments intended for rent. NEXUS hopes to capitalize on the expectation that rental prices will continue to spiral out-of-control, forcing renters to take a good, hard look at buying. Doing so will dampen the risk of being priced out of the rental market by locking themselves into a fixed monthly cost through the long-term mortgage that homeownership provides.

In addition to greater financial stability and established budgetary expectations, home ownership provides tax benefits as well as a tangible asset that has historically appreciated in value over time. While average rental prices continue to increase in Seattle, average home prices are increasing substantially as well, as those are up 11.8% year over year, fourth in the nation. While the rate of increases will likely not remain this high forever, we only see signs that overall growth will continue as companies keep hiring and attracting people to this region. Rather than paying a substantial amount of money in rent every month, garnering no equity or capital, many people will start to realize that home ownership is the more attractive option in this market. Driven by projects like NEXUS that satisfy the needs of consumers who prefer to live in an urban environment but are discouraged by an exorbitant rental landscape, home ownership should be everyone’s goal in the coming years.

What a Difference A Year Makes: Downtown Seattle Condominium Market Values Swell 28% in 2016

Eager homebuyers rallied during the first half of 2016 increasing unit absorption and median home prices by 48% and 28%, respectively according to analysis of Northwest Multiple Listing Service data released as of June 30th. The typical condominium is selling in just over a month with a median home value of $575,000. However, a closer look reveals that 135 of the 381 condominium closings so far this year were in the INSIGNIA condominium tower, a new construction development (and one remaining developer-owned unit in the Four Seasons Private Residences) whereas there were effectively no new construction deliveries or closings during the same term in 2015. When removing this spike of higher-priced, new inventory in the overall resale market still expanded by 22% year-over-year but total resale closings actually decreased 5% with 246 homes in 2016 (including a few resales at INSIGNIA) against closings of 258 units in the first half of 2015.

“These market results were anticipated given the rising demand and relatively anemic supply being added to the skyline,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty. “I wish I could point to a cure for homebuyers hoping for greater affordability but the answer is supply and that can take years to develop.”

Below are a collection of graphs illustrating the changing market that compare the first half of 2015 with the first half of 2016, both with new construction and resale (All) as well as exclusively resale homes (Resale).

To be sure, much of what’s occurring in the development of downtown Seattle has been a common discussion about supply and demand. In 2013, Jones prognosticated on this very topic in an interview with Seattle Magazine’s Publisher’s Series in which he mentioned the northern migration of downtown Seattle and a condominium comeback, although nearly three years ago the housing market was still very much in recovery mode.

In June of 2015, RSIR published with The Puget Sound Business Journal a supplement called “The Manhattanization of Seattle,” which again spoke to the imbalance of for-sale inventory relative to the population increases and the maturing Millennial demographic.

Then, earlier this year 425 Business Magazine tapped Jones about the trends for urbanization, this time with a focus on the Eastside. He notes that the rising trend for foreign direct investment in the region and a propensity for in-fill development will have even the much smaller Eastside urban landscape soon looking more like a skyscraper city before long.

Most recently the state of the in-city housing market has less to do with projections but evidenced by consumer response. Among the newly constructed in-fill condominiums in the region (either in development or planned), which includes INSIGNIA, LUMA, Gridiron and now NEXUS, 80% of the homes have already been reserved, pending or closed.

“That’s just one of the reasons we’ve been so successful with NEXUS,” said Michael Cannon, Director of Sales for NEXUS. “We’re well positioned both in our geographic location as well as our time in the development cycle. Buyers have clearly been waiting for the next generation of high-rise living and at NEXUS, ‘X’ marks the spot.”

Cannon says homebuyers have a remarkably clear view of the future as downtown Seattle is moving north and NEXUS is in the heart of a new multi-billion dollar vertical village.

*Information gained from sources deemed reliable but cannot be guaranteed.

Sotheby's International Realty® Leads National Rankings for Individual Sales Volume Category in Real Trends/The Wall Street Journal Report

Sotheby’s International Realty Affiliates LLC recently announced that the Sotheby’s International Realty® brand was the No. 1 real estate company represented in two of the six categories that comprise the 2016REAL Trends/The Wall Street Journal “Top Thousand.” The annual report ranks America’s top 1,000 residential real estate agents and teams based on 2015 annual sales volume and transaction sides, and the top 50 agents and top 50 teams on average sales price—making it a ranking of the top 1,100 nationwide.

The Sotheby’s International Realty brand claimed 45 of the top 250 sales associates in the REAL TrendsIndividual 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%), including Brenda S. Powers and Elizabeth L. Sample in East Side Manhattan who tied for No.1 at $37.59 million. The brand also had the No. 1 Team on the Average Sales Price ranking; Drew Mandile and Brooke Knapp Team in Beverly Hills topped that list with an average sales price of $18.3 million. This further establishes the strength of the Sotheby’s International Realty brand as a leader in luxury real estate sales.

“We are thrilled to see that the Sotheby’s International Realty brand is continuing to build off the momentum of the 2015 record-year,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Having the most sales associates represented in two categories of the REAL Trends/The Wall Street Journal rankings is a huge accomplishment and underscores how many of the top sales professionals are affiliated with the Sotheby’s International Realty brand.  I am so proud of the companies and the sales associates represented on this list.”

The Sotheby’s International Realty network currently has more than 19,000 affiliated independent sales associates located in approximately 845 offices in 63 countries and territories worldwide.  Sotheby’s International Realty listings are marketed on the sothebysrealty.comglobal website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

The complete Thousand Top Real Estate Professionals list can be found on REAL Trends’ website, www.realtrends.com.