I was in Florida about two weeks ago, Sarasota to be exact. I could not believe it but I found a market BUSIER than Texas. You rode on the (overflowing) shuttle to the beach: everyone around you was talking real estate and where they wanted to buy. I got coffee every morning hearing about a guests real estate hunt from the previous day. There was no doubt in my mind that Texas is a hot, hot market. But, after visiting Florida, I’m searching for adjectives that mean “more than hot”.
And the other cool thing: I saw LOADS of those pretty Sotheby’s International Realty signs, all in front of the most gorgeous listings I was craving. Now I know the reason why?
Sotheby’s International Realty just announced that its 25,000 agents around the world — including about 400 of them right here in North Texas at Briggs Freeman Sotheby’s International Realty — achieved a record $204 billion in total 2021 sales volume.
That is a whopping 36 percent increase in sales volume over 2020.
What’s more, in the U.S. alone, the brand’s total sales volume grew by almost 33.8 percent in 2021, significantly outpacing the national increase of 20.6 as reported by the National Association of Realtors. That tells you a lot about the leadership of Sotheby’s International Realty in the high-end market.
“It’s head-spinning, isn’t it?” says Robbie Briggs, the CEO of Briggs Freeman Sotheby’s International Realty. “Who knows how long these kinds of increases will last. I do know this: One thing that stays steady, in markets that are hot or cool, is the expertise of our professional agents, advising their clients all the way.”
The brand’s presence in major metropolitan areas and resort markets around the world ensured it was well-prepared to meet the renewed interest in cities and the sustained boom of secondary-home markets. With remote and hybrid work models influencing buyer behavior in 2021, those secondary markets and resort areas continued to produce high demand and increased prices. In the U.S., areas such as Florida, Hawaii and Colorado saw record performances. Globally, second-home markets in Australia, Spain, and Switzerland and in resort areas in the Bahamas, Cayman Islands, Turks and Caicos, and Puerto Rico achieved notable growth and record sales.
As buyers continued to prioritize properties that offered more space and land, states with no income tax — think Texas, Florida, and Wyoming — offered added appeal, while the Bahamas, Cayman Islands, Switzerland, Hong Kong, and Singapore, all popular for their favorable tax structures, saw significant gains.
Sotheby’s International Realty continued to lead the industry with its technology and marketing efforts, too. Its sothebysrealty.com saw more than 46 million visitors in 2021, a 25 percent increase year-over-year, and the most visits to the website in its history. (Briggs Freeman Sotheby’s International Realty EVP of marketing Maria Cintron tells us that briggsfreeman.com itself saw 118 percent more visitors in 2021 than it did in 2020, thanks to a new strategy for digital marketing.)
The sothebysrealty.com site was also named Best Real Estate Website in the People’s Choice Category in the 25th Annual Webby Awards, recognizing the brand’s efforts to introduce translations in 14 languages, nearly 60 currency conversions, and a mobile-first approach to emphasize the method in which today’s clients are buying and selling homes.
Property videos, which exploded in popularity during the 2020 lockdown, have continued to trend as more buyers start the initial viewing process online. Videos produced by Sotheby’s International Realty agents were played nearly 90 million times — another whopping increase, this time of 50 percent year-over-year.
Sotheby’s International Realty was also awarded the honor of 2021 Top Luxury Brokerage by Inman, the industry’s leading source of real estate information. The prestigious award is a testament to the brand’s achievements in luxury marketing, record-breaking sales, and high-quality service.
During its record year, Sotheby’s International Realty continued to strategically expand its presence around the world. In 2021, the brand opened 86 new offices, bringing its total presence to more than 1,000 offices in 79 countries and territories. The brand expanded to Oman and Morocco and opened three new offices in the Swiss Alps region. In the Caribbean and Latin American region, the brand opened new offices in Jamaica and St. Kitts & Nevis during a boom of Caribbean interest.
As affluent individuals looked to purchase homes in markets with limited inventory, Sotheby’s International Realty agents acted as true global real estate advisors. Referral sales volume within the network increased by nearly 80 percent year-over-year. The average sales price of those referrals? That went up by 21 percent. Says Briggs Freeman Sotheby’s International Realty president Russ Anderson: “If you are a professional agent in North Texas, that unique network is yet another aspect that separates us from all the rest.”
