Gross Sales Production Increased 69% in 2020 as Fast-Growing Brokerage Earns Top Ranking for Luxury Sales and Productivity per Broker; Executives Plan Roster & Division Expansions in 2021
Realogics Sotheby’s International Realty (RSIR) announced market leading growth in 2020 as the firm’s gross sales volumes swelled by 69 percent to $2.8 billion in 2020, comprising many record sales, including the largest residential closing on record at $60 million for an Eastside waterfront home.
“Congratulations to the more than 350 brokers and employees who propelled Realogics Sotheby’s International Realty’s trajectory in 2020 to become a global leader in local real estate,” said Dean Jones, President and CEO of RSIR. “Our team is poised for future growth in 2021. We’ll maintain a standard of excellence by the company we keep, the clients we represent, and the results we create—one sale at a time.”
According to Trendgraphix research, which aggregates data from the Northwest Multiple Listing Service, RSIR captured numerous top rankings when compared to the ten largest residential real estate brands based on gross sales volumes in 2020 as follows:
- #1 PERCENTAGE INCREASE OF ANNUAL GROSS SALES VOLUME: +69%
- #1 AVERAGE LISTING SOLD PRICE: $1,125,300
- #1 AVERAGE BUYER PURCHASE PRICE: $1,040,700
- #1 AVERAGE ACTIVE LISTING PRICE: $1,798,071
- #1 PERCENTAGE OF PRODUCING BROKERS: 75%
- #1 ACTIVE LISTING VOLUME PER PRODUCING BROKER: $1,538,000
- #1 AVERAGE SALES VOLUME PRODUCTIVITY PER AGENT IN 2020: $9,655,000*
*Includes off-market sales not listed on NWMLS based by 285 licensed brokers and branch managers, not including transaction managers.
Despite the COVID-19 pandemic and industry disruption due to both social and political headwinds, the Seattle-Bellevue metro area was a standout for the nation’s housing market for most of 2020, according to S&P/Case-Shiller’s Home Price Index. Strong market fundamentals, record-low interest rates and a robust network of affiliated brokers, both locally and within key feeder markets nationally, helped RSIR set the industry benchmark for individual broker production in 2020, according to Chief Sales Officer and Designated Broker Stacia Smith.
“With COVID protocols and restrictions, our entire team had to evolve to the changing landscape very quickly, and so when a market rally occurred in Q3-2020, we were ready,” added Smith. “I’m proud of our brokers who demonstrated leadership in the market and helped thousands of buyers and sellers reach their goals during such a difficult time.”
Smith notes RSIR brokers are commonly known for listing and selling the region’s most valuable properties, however, she added, “Luxury is an experience and not a price point,” as the firm proudly represents all property types and home values. She also acknowledged RSIR’s New Developments division, which in 2020 represented among the region’s largest portfolios of recently closed, pending and active listings.
RSIR’s resilience was spurred by maintaining a positive corporate work culture and ethic while moving to where the market was trending next. Company executives endeavored to support and motivate staff and brokers both personally and professionally throughout the pandemic. This included daily inspirational messages and routine video conferencing sessions that showcased best practices from broker peers and strategic advisors. RSIR staff provided a new era of training curriculum addressing real-time psychological and business challenges faced by the industry and consumers alike.
“We did not lay-off or furlough any staff—instead, we doubled-down as a team to lead our brokers through a trying year that was both volatile and productive,” said Stacy Jones, Chief People Officer for RSIR. “During this process, we kept our focus on the trendlines and not the dire headlines to advise our clients while performing brokerage activities in a new, safe, and responsible manner.”
RSIR executives were also honored in 2020 with several prestigious recognitions: Stacy Jones was a 2020 “Woman of Influence” by the Puget Sound Business Journal and Dean Jones was included in the same publication’s “Power 100” Influencers. Additionally, RSIR’s website managed by Andrea Savage, Vice President of Marketing, was awarded “Best Brokerage Website” by Real Trends; an industry authority of residential real estate.
Looking ahead, RSIR executives are planning for growth by adding to the broker roster and exploring new market segments, including a new Mountain + Resort Division focused on the rising trend for exurban properties and second homes. Once permitted by Washington Governor Jay Inslee’s COVID guidelines, the progressive brokerage will also reopen unique retail partnerships including the B-Bar Café and Bar in downtown Bellevue, and a new wine maker partnership and retail experience to be announced soon in downtown Kirkland.
“As we’re welcoming new agent appointments each week, we have bolstered our broker care and marketing teams to support their business plans,” said Robyn Hsu, Executive Director of Business Development for RSIR. “We spent the last two years building up our infrastructure, systems, and new branch offices like in downtown Bellevue—so in 2021, we will focus more directly on expanding our roster and growing their market share.”
The year 2020 also marked the 10th anniversary for RSIR as its executives expanded the firm’s commitment well into the next decade as the region’s largest affiliate in Washington state. Nationally, Sotheby’s International Realty Affiliates, LLC announced that as of Q3-2020 the domestic sales volume had already exceeded $90 billion and sets up, what is likely to be reported as, a record year for the brand.