Realogics Sotheby’s International Realty Leads Its Brand in Washington for Sales and Inventory as the Global Brand Topped $150 Billion (USD) in Closings in 2020
The Fast-Growing Brokerage Spurs the Second Largest Listing Volume by Brand in NWMLS; Executives Plan for Closings and Supply to Double in Spring Sales Surge Over Next 60 Days
Realogics Sotheby’s International Realty announced the fast-growing real estate brand offers more than $500 million in active inventory today—including new construction listings—the second-highest such market share in the Northwest Multiple Listing Service (NWMLS) and more than twice the listing volume per broker compared to the next largest residential real estate brands in the region. The global real estate network closed $150 billion in sales in 2020, through 24,000 brokers in 1,000 offices located in 75 countries and territories. For its part, RSIR’s gross sales volumes swelled by 69 percent to $2.8 billion in 2020.
“Such tremendous growth in listing representation is a clear demonstration of consumer trust,” said Dean Jones, President and CEO of RSIR: “As we celebrate our 11th anniversary since joining the Sotheby’s International Realty® network, we look ahead to another decade with great enthusiasm and respect for our 350+ brokers and employees that comprise the RSIR Nation.”
According to Trendgraphix research, which aggregates data from the NWMLS, RSIR offers 77 percent of the active inventory for the brand, making it the largest affiliate in Washington. Jones has polled his brokers and believes RSIR’s total listings and sales volumes will double in the next 60 days.
“Our brokers and our staff are very busy preparing for a boom in March and April as we enter the spring sales season,” added Jones. “We are investing in our infrastructure to support the increases in our broker roster and approaching listing volumes.”
During a leadership event held on February 24 in the newly opened Bellevue branch office, RSIR executives welcomed recent additions to the team including:
- Denise Seavitt – Branch Manager of Mercer Island and Madison Park
- Samantha Fetter – Broker Care of Eastside Branches
- Ami Bumia – Executive Director of Sales I New Developments
- Jessica Kameron – Project Manager I New Developments
- Freddy Delgadillo – Business Development Associate
To be sure, the regional real estate market is very active and highly competitive. Year-to-date 2021, total listings recorded by the NWMLS in King, Snohomish, Pierce, and Kitsap counties have dropped 52 percent from 2020 levels with just 2,640 homes for sale, while pending sales are increased by 12 percent to 10,674 contracts so far this year, clearly indicating demand is outstripping supply. According to the latest report by S&P/Case-Shiller’s Home Price Index, as of December 2020 the median home prices for the Seattle metro area have swelled by 13.6 percent—second only to Phoenix for the largest percentage value gains in the U.S. in 2020. However, Seattle tops the nation in absolute value growth because home prices are twice the price compared to Phoenix.
“Working with an experienced real estate broker has never been more critical,” said Stacia Smith, Chief Sales Officer and Designated Broker for RSIR. “It’s only going to get more competitive out there, but our team is well-positioned to support our buyers and sellers with extraordinary service and results.”
Smith acknowledges her brokers are facing an increase in multiple offers—in fact, 80 percent of RSIR buyers, so far in 2021, are competing on homes yet still logging many notable triumphs. Likewise, listing presentations are increasingly successful, thanks to exclusive marketing advantages that drive more buyers to homes for sale.
“We’ve developed a matchless marketing system that’s changed the conversation for our brokers and as a result, they’re winning more listings and we’re selling more homes,” said Stacy Jones, Chief People Officer for RSIR. “RSIR is proving that we don’t need a high volume of brokers to represent a high volume of sales—it’s all about supporting our team and using innovations like RSIR Connect and leveraging our exceptional broker care department, so agents can work more efficiently and grow.”
RSIR executives point to other exclusive property listing platforms such as the “Home of the Day” featured on both GeekWire.com and online and in print with Puget Sound Business Journal, as well as property syndication on more than 80 other listing aggregator websites worldwide in dozens of languages. Recently, the brokerage’s website, RSIR.com won “Best Website” by Real Trends, an industry authority of residential real estate, while the global website SothebysRealty.com garnered 37 million unique views in 2020, with property videos played just under 13 million times, comprised of 90,000 hours of property footage. YouTube subscribers top all other brands while earned media attention recorded more than 34,900 editorial placements in 2020.
In addition to expanding RSIR’s listing exposure and market share, the brokerage is adding brokers to their roster across branch offices in Belltown, Madison Park, Bainbridge Island, Mercer Island, Kirkland, and Bellevue.
“It’s really an exciting time to join the team and become a global leader in local real estate,” said Robyn Hsu, Executive Director of Business Development for RSIR. “I’m thrilled Freddy Delgadillo will be supporting me in welcoming new broker appointments to the RSIR Nation.”
Hsu believes brokers today require unique advantages in order to stand out in what’s otherwise become a very commoditized industry. According to the 2020 year-end report released by the NWMLS, there were a whopping 32,888 licensed members that closed on $95.8 billion in sales volume. RSIR executives confirmed their firm recorded the highest sales volume per broker, compared to the top ten largest brands.