Agents affiliated with Sotheby’s International Realty — on both the owned brokerage side and the franchise network — combined to close more than $114 billion in sales volume in 2019, according to metrics released this week by the company. It’s a record-setting year for the company, slightly topping 2018’s $112 billion.
“In 2019, the Sotheby’s International Realty brand continued to achieve solid growth,” Philip White, president and CEO of Sotheby’s International Realty, said in a statement. “The brand expanded into new countries and territories and entered new markets in the U.S.”
“We continued to make strategic business decisions that benefitted both our independent sales associates and affiliate companies.”
One of those strategic decisions referenced by White was the March 2019 consolidation of both the own-side and franchise business, bringing the company’s more than 23,000 agents under one organization.
The company opened 50 new offices in 2019, bringing its total global presence to more than 1,000 offices in 70 countries and territories, according to the numbers it released.
In the U.S. alone, the luxury real estate brand is in 43 states, with plans to enter new markets this year. Outside of the U.S., Sotheby’s has closed more than $12 billion in sales, according to the company in a statement.
The company also leaned further into technology in 2019, adding mixed reality technology — a technology that combines the real and virtual world — into its augmented reality app to virtually stage homes. It also released its marketing suite of technology tools and will soon unveil a new website.