The annual AREAA Global Luxury Summit is in our backyard again this year, as hundreds of international and luxury real estate professionals will gather April 7th to 9th to network and share ideas at the Fairmont Olympic Hotel in Seattle. Dean Jones, President & CEO of Realogics Sotheby’s International Realty, was invited to speak on “Making Your Market Matter” to discuss the Seattle’s growing international interest and the firm’s successful Asia Services Group.
Realogics Sotheby’s International Realty
As a recent Realogics Sotheby’s International Realty feature entitled “Seattle’s New Era of Condos” proclaims, the Emerald City is definitively in the midst of a condo comeback; the population is growing, residents are fueling additional in-city attractions, and millennials are transitioning from renting to homeownership. Today, thousands are reading the latest Seattle trends, as the special feature, which was originally included in Portrait of Seattle Magazine, was hand delivered to 1,500 broker mailboxes throughout the Seattle area, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
The rise of the Seattle housing market has been such a consistent refrain for the last several years that there’s little question whether the Puget Sound has “arrived” yet.
Motivated homebuyers from diverse backgrounds are drawn by the region’s spectacular environment, great schools, vibrant culture and world-class companies. The only reason sales could decline in Seattle is insufficient inventory, not waning demand.
International buyers have been an important factor in this surge, with Chinese consumers leading the charge. It’s no surprise Seattle was the most searched U.S. market in 2017 according to Juwai.com, China’s top real estate search portal, and that many Chinese plan to go on shopping tours during the upcoming Lunar New Year celebration.
Global Real Estate Network Celebrates RSIR Broker Becky Gray in Significant Sale from Around the World
Executives of Realogics Sotheby’s International Realty (RSIR) confirmed today the closed sale of a property in Medina, Washington, for $26.75 million, which was listed for sale by RSIR broker and Global Real Estate Advisor Becky Gray. The estate is the most valuable residential listing ever listed and sold on the Northwest Multiple Listing Service.
On February 13th 2018, sixteen school districts in King County are asking voters to approve levies in a special election to fund schools. The majority of these are replacement levies, designed to succeed a current levy due to expire, and a handful of the districts are including a 1-year school bus levy to bring new busses to their fleets. Because this marks the first election since the McCleary ruling on educational funding, which has left many voters asking why Washington’s schools are in need of additional funding in the first place.
Puget Sound Business Journal released their annual “Book of Lists”, naming Realogics Sotheby’s International Realty among the list of “Largest Residential Real Estate Companies” for the sixth year in a row. Despite its boutique size, the firm ranked seventh on the list, reporting $1.07 billion in sales by its 195 brokers with an average sales price of $767,000.
On January 11th, Stacy Jones, Owner & Vice President of Realogics Sotheby’s International Realty, joined the Jere Metcalf Podcast, where real estate agents and executives from around the network share their insights and tools for success. Jones spoke on the ways that she helps her firm’s brokers grow, from personalized branding and encouraging them to act as the CEO of their own business, to taking risks and establishing themselves as a resource that extends far beyond the industry.
As 2017 closes out we reflect on a year of evolution and growth. We welcomed over fifty new brokers to the Realogics Sotheby’s International Realty family and appointed Stacia Smith as Director of Sales and Seattle Branch Manager. Our leadership also added several new members to the broker care, accounting and marketing teams, positioning Realogics Sotheby’s International Realty to better serve our brokers into 2018. Likewise, we expanded offices with the official opening of the Park House in Madison Park as well as adding annexes in both Belltown and Kirkland, and we are now home to more than 225 licensed brokers and 25 employees.
The city of Bellevue held the global spotlight recently, as a Mansion Global feature heralded the area as a “haven for outdoor enthusiasts, [and] tech employees” with its “waterfront access, leafy neighborhoods and cosmopolitan restaurants and boutiques,” and ever-growing tech sector jobs. Bellevue has certainly seen its fair share of growth in recent years, as it is now home to approximately 150,000 people and 1,300 businesses with 45,000 employees who revel in Pacific Northwest recreational opportunities that complement its urban edge.
On December 12th, Jake Whittenberg of King 5 News reported on the “condo conundrum” in downtown Seattle, as the city continues to experience a severe inventory shortage despite rising demand for in-city homeownership. It’s “hard to imagine a shortage in this environment,” Whittenberg says, as he showcases a graphic displaying NEXUS Condominium Tower, one of few projects currently under development in the downtown core that is being offered for sale.