Sotheby’s International Realty has quietly shuttered two of its southern California offices, according to a report.
The luxury real estate brokerage’s offices in Encino and Sunset Strip, both in Los Angeles, will close and merge into other nearby offices, The Real Deal reported Thursday.
“Our strategy has always been to focus on the most impactful locations in our markets,” an unnamed representative of Sotheby’s told the publication. “In Greater Los Angeles, we are integrating two offices: our Sunset Strip Brokerage with our Beverly Hills Brokerage, and our Encino Brokerage with our Sherman Oaks Brokerage.”
The representative also noted that the increasing role played by technology in day-to-day brokerage operations has made the need for multiple office locations less pressing, and that the brokerage works “to offer our agents more digital tools and technology to seamlessly serve clients at any time and any place,” according to the report.
According to its website, Sotheby’s, which is part of Anywhere Real Estate, operates about 20 offices in the Los Angeles area, including offices in Beverly Hills, Los Feliz, Calabasas and Malibu. The brokerage says it operated 1,000 offices globally.
No information was readily available related to staff cuts or on what role managers of those offices would assume. Sotheby’s parent company, Anywhere, recently laid off an unspecified number of staff at their headquarters to slash operating costs in anticipation of a possible recession.