Representatives of Realogics Sotheby’s International Realty unveiled the opening of its Residential & Resort Showroom at 2715 1st Avenue in downtown Seattle’s Belltown neighborhood. Mike Good, chief executive officer of Sotheby’s International Realty Affiliates, LLC and Dean Jones, managing member of Realogics Sotheby’s International Realty addressed guests during a private reception last night; declaring expansion plans throughout the Pacific Rim and noting Seattle as a critical gateway to the United States.
CEO of Sotheby’s International Realty® Brand Announcement of Pacific Rim Expansion Plans at Reception
“The Residential & Resort Showroom in Seattle is a tremendous accomplishment and represents the caliber of companies that we’re attracting to our expanding global network,” said Good. “Realogics Sotheby’s International Realty is well positioned for growth as we open new offices in the Pacific Rim such as Hong Kong and Japan but also because Seattle is a major feeder market for our resort properties in the U.S., Mexico and the Americas.”
The Seattle real estate market has held up better than most metro areas in the U.S. in part due to increasing demand from out-of-town consumers, according to Jones. “About a quarter of our sales transactions are to relocating or second home buyers purchasing from outside the state or internationally – we can’t ignore this market channel,” said Jones. “We believe this trend will increase as global companies based in the Seattle area draw employees to the region and as second home buyers discover the Pacific Northwest over other West Coast markets. It’s contributing to market stabilization at all price points in the city.”
Jones adds that many of his clients are also prone to buy investment and vacation properties elsewhere. “We now specialize in sun, surf and snow destinations by making direct referrals to our affiliates in key resort markets. Our agents’ reach extends well beyond Seattle’s city limits,” he said.
The brokerage, owned by Dean and Stacy Jones of Realogics, Inc., and Sam Cunningham as the designated broker has grown considerably since acquiring the Sotheby’s International Realty franchise on February 23, 2010. In addition to Co-Founding Directors Moira Holley and James Stroupe, the firm has welcomed Chris Longfelder Doucet, Connie Blumenthal, Erik Moris, Melanie McCarthy and Cybele Walsh to the international realty network.
Today Realogics Sotheby’s International Realty is comprised of 23 agents representing approximately 200 listings and more than $225 million in inventory throughout in the greater Seattle area and beyond. The company also represents buyers citing local market expertise and effective negotiation skills. Recently, an out-of-state couple working with Moira Holley purchased a $9.25 million listing for $6.25 million – one of the largest transactions recorded for a non-waterfront property in King County since 2007, according to the Northwest Multiple Listing Service. Good and Jon Meschke, VP of Affiliate Services at Realogy – Sotheby’s International Realty Affiliates, LLC both noted Holley and Stroupe as being key players to the success of Realogics Sothebys’ in the greater Seattle area through their innovative marketing strategies.
“Our unique marketing platform has helped us attract clients and top-producing agents alike,” says Cunningham. “They seek every advantage available in today’s marketplace and we offer unparalleled reach both in-store and online. We’re proud to be affiliated with one of the world’s most established brand names as we represent exceptional properties of all product types and price points in our new retail gallery.”
In addition to real estate, the Residential and Resort Showroom also showcases international art in a partnership with Sun Valley-based Gallery DeNovo. The 3,500 sq. ft. retail space features artists from around the world and will host monthly events that range from real estate market updates to art walks and wine tastings. The showroom opens to the public on Saturday, June 26, 2010 at 10am. Guests may register to receive newsletters and event information at www.RealogicsSothebysRealty.com.
View Larger Map