Executives from Realogics Sotheby’s International Realty (RSIR) announced today the appointment of Dehlan Gwo to Vice President of New Developments for Realogics, Inc, the manager of Realogics Sotheby’s International Realty. The collective is doubling down on its focus to target new construction opportunities in the Pacific Northwest region with the reintroduction of current listings that have been reset for today’s market, and new projects in the pipeline as the industry reboots post pandemic.
“We are elated to welcome Dehlan to the team as an executive to help lead us forward with our New Developments division,” said Dean Jones, President & CEO of Realogics, Inc. “Dehlan brings to our firm a wealth of experience having helped other project listings align with the changing marketplace, and he will guide us to new opportunities as we expand our reach to new product niches.”
Jones has worked closely with Gwo since 2015 when Gwo joined RSIR as a licensed real estate professional, and Jones witnessed firsthand his prowess with both exceptional resale and new development experience. Gwo worked with Jones on high-profile, high-rise condominiums such as NEXUS and SPIRE in downtown Seattle, as well as his own projects, including Florera at Greenlake. Gwo was also a Founding Member of RSIR’s Asia Services Group, and he played a critical role as the International Listing Representative for RSIR’s projects. More recently, he served as the Director of Marketing and Sales for Create World, the developer of approximately $680 million in condominium projects including The Emerald in downtown Seattle and Mari in downtown Bellevue. Gwo holds a B.A. in Business Administration and a Certificate of International Studies in Business from the University of Washington (UW) Foster School of Business, and he’s slated to receive a Master of Science in Real Estate (MSRE) from the Runstad Department of Real Estate in the class of 2024.
“I’m excited to lean into RSIR and the real estate opportunities that are before us,” said Gwo. “I’ve had the privilege of experiencing the new developments market as a consumer, an agent, a listing broker, a sales and marketing professional, and as the local developer representative. It’s with this perspective that I chose to work with RSIR and take this extraordinary brand to new heights.”
Gwo points to the international brand recognition of Sotheby’s International Realty and the unmatched network of more than 27,000 real estate professionals around the globe. Locally, 300+ agents have set the benchmark for market performance with the highest average listing prices and sold prices (representing buyers and sellers), as well as the most productivity with active listings represented and sales on a per-agent basis, while averaging the lowest days on market compared to the top ten largest brands in the Multiple Listing Service, according to Trendgraphix research (year-to-date 2023). Realogics Group of Companies and its clients have been honored by more than 135 awards for design, sales, and marketing accomplishments nationally over the past two decades, including top honors of “Attached Community of the Year” five times by the National Association of Homebuilders.
Currently, RSIR is representing the 271-unit Graystone Condominiums on First Hill and the 37-unit Infinity Shore Club Residences on Alki Beach. Both are posed for occupancy by summer 2023. The RSIR New Developments team recently closed out the 136-unit Jade Condominiums in Kirkland and is actively advising on several new projects amidst the market renaissance for new construction. Initially founded by Dean Jones in 2002, the Realogics Group of Companies and its experienced agents have collectively presided over more than $5 billion in project sales.
Jones and Gwo are witnesses to a renaissance of in-city housing demand while confirming the new development pipeline is effectively closed as no new groundbreakings have occurred for several years and none are projected anytime soon. For example, Seattle currently has nine active new construction condominium developments for sale, representing 2,078 units of which more than two-thirds have already been sold. Of this new supply, only one new tower is being delivered in 2023 and one new tower in 2024, with no new deliveries scheduled in 2025 or beyond, unless developers commence with new projects soon.
“Our focus is to play an active role in the reboot of the urban market segment, which is upon us, while we also explore smaller-scale communities that are quicker to deliver in suburban enclaves,” adds Gwo. “We are well aware of the need for new construction of all property types and price points in the region, and we are positioned to lead that to fruition.”
For more information, visit https://www.rsir.com/newdevelopments