This month, the Sotheby’s International Realty® brand celebrates the fifth anniversary of the licensing of its name. Since that time, the brand has grown from 15 company-owned offi ces to more than 500 offi ces in 39 countries and territories worldwide with 10,700 sales associates. Take a walk through the brand’s journey in the time-line below.
1976 ~ The Sotheby’s International Realty® brand was founded in 1976 to augment the auction business
2004
• In February, Sotheby’s entered into a long-term strategic alliance with Realogy Corporation, the world’s leading real estate brokerage franchisor. The agreement provided for the licensing of the Sotheby’s International Realty name, the acquisition of 15 company-owned offices and the development of a full franchise system.
• In June the brand began offering membership in its franchise system to select real estate brokerage companies.
2005
• By its one year anniversary in February, and in the eight months since the brand began awarding franchises, it has attracted 17 premier firms in the U.S. and two international Franchises.
• In May the brand surpasses the 100-office milestone in the United States in less than ten months Launch of Portraits advertising campaign
• Jackson Hole, Wyoming office sells ranch for approximately $90 million (sales price confidential)
• In September the brand launched its Web site, http://sothebysrealty.com
• First Leadership Forum held in October in California
2006
• In January, Prominent Properties Sotheby’s International Realty sells the Frick Estate in Alpine, N.J. for $58 million
• First Global Networking Event held in May in New York Second Leadership Forum held in California
• In October the brand announces the results of its first study with Architectural Digest
2007
• By January, the brand has grown to 346 worldwide offices with 7,200 sales associates
• In January, Sotheby’s International Realty’s sale of Rancho El Cojo and Jalama Ranch for approximately $155 million in Santa Barbara, California
• The brand launches RESIDE® magazine in April
• In July the brand welcomed its 100th U.S. affiliate company, Nestler Poletto Sotheby’s International Realty in Boca Raton, Fla.
• Second Global Networking Event held in May in Arizona
• Atlanta Fine Homes Sotheby’s International Realty opened its doors in June 2007, with co-founders Jenny Pruitt and David Boehmig at the helm.
• Third Leadership Forum held in October in the Grand Cayman Islands
2008
• By January the network has grown to approximately 9,000 sales associates located in more than 470 offices in the U.S. and 29 other countries and territories
• 10th affiliate orientation held in February in New Jersey
• In April the brand is named winner of Franchise Business Review’s 2008 Best in Category for Real Estate Franchisee Satisfaction award.
• Also named to the organization’s top 50 for client satisfaction and was number five for all franchise categories with more than 200 locations
• In August the brand was rated the most prestigious real estate company by high-net worth consumers in the Luxury Institute’s 2008 Luxury Brand Status Index survey
• Fourth Leadership Forum held in November in New Jersey
• By February the brand’s Web site becomes multi-lingual with the addition of seven new languages.
• eListing Presentation Tool launches.
• Today the brand has grown to more than 10,700 sales associates located in more than 500 offices in 39 countries and territories worldwide
• Brand is named #1 in its category and #7 of the more than 400 franchises surveyed for Franchise Business Review’s
2009
• Franchisee Satisfaction award Franchise Business Review’s 2009 Real Estate Franchisee Satisfaction award: #1 in category, #7 of the more than 400 franchises surveyed.
• In March, named to Franchise Times Fast 55 list
• In March, launched premier microsite on The Wall Street Journal Web site