Gustave White Sotheby’s International Realty, a luxury real estate firm based in Newport, Rhode Island, today announced it is part of an international network that grew its office count by more than 10% in 2008, ending the year with 10,750 sales associates located in more than 500 offices in 39 countries and territories worldwide.
“According to the National Association of Realtors®, for all of 2008 existing-home sales were 13.1% below the transactions recorded in 2007, which is the lowest volume since 1997. In this environment, the Sotheby’s International Realty brand actually grew its office count by 10.7%, demonstrating a true demand for our services in the global arena,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “As well, we welcomed an additional 1,726 sales associates, which reflects our strength and appeal as a brand. I also am very proud that we received two industry honors in 2008, underscoring the value consumers and our affiliates place on the Sotheby’s International Realty brand and what it has to offer.”
Last year saw the addition of 19 firms across 10 states: New Jersey, Utah, Massachusetts, Washington, California, Colorado, Florida, Delaware, New York and North Carolina. As well, 30 Sotheby’s International Realty affiliated companies expanded by opening new offices to widen their market coverage.
Finally, in April 2008 Sotheby’s International Realty Affiliates LLC won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award, was named to their top 50 for client satisfaction and was No. 5 for all franchise categories with more than 200 locations. In August, the brand also was rated the most prestigious real estate company by high net-worth consumers in the Luxury Institute’s 2008 Luxury Brand Status Index survey.
“It is very exciting to be part of a brand that continues to grow worldwide. Gustave White clients now have access to a wider audience of buyers and sellers all over the world,” said principal broker and co-owner, Chris West. “Last year, our firm welcomed 5 new sales associates, and although we closed our Providence satellite office, we’ve been able to maintain a strong presence throughout the state,” said West’s business partner and Rhode Island Association of Realtors President, Paul A. Leys.
The highest recorded sales price in Rhode Island for 2008 was for the sale of the Bellevue Avenue estate, ”Seaweed,” designed by Horace Trumbauer and located on Newport’s famed Cliff Walk and listed by Gustave White. The sale was also the 4th highest in Newport real estate history.
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