The global network of Sotheby’s International Realty enables us to stay ahead of buying trends and tap a huge international referral network.
BEND, Ore. (PRWEB) November 20, 2017
With consistent demand for real estate in the Pacific Northwest and a record number of foreign buyers scooping up residential properties, Cascade Sotheby’s International Realty enjoys a significant competitive advantage with a diverse community of multilingual brokers. A recent company audit of its agents reveals Cascade Sotheby’s multilingual brokers are fluent in numerous languages including Cantonese, Mandarin, Japanese, German, Russian, French, Spanish, Croatian, Swedish, and Brazilian Portuguese to name just a few.
“Having so many multilingual agents with such diverse cultural backgrounds is of huge benefit to assisting the growing international interest in property here—and it really positions Cascade Sotheby’s as a leader in uniting foreign buyers with extraordinary residential real estate throughout Oregon and SW Washington,” says Michael Babbitt, managing principal broker, Cascade Sotheby’s International Realty, Portland Metro. “The global network of Sotheby’s International Realty enables us to stay ahead of buying trends and tap a huge international referral network.”
According to the National Association of Realtors, the gradually expanding US and global economies should keep foreign buyer demand at a robust level. A recent article in the Los Angeles Times states that foreigners bought 284,455 properties in the 12 months that ended March 31, about a third more than a year earlier. Dollar volume surged nearly 50% to $153 billion, also a record for the survey first taken in 2009.
The article states that Chinese nationals were the biggest buyers, purchasing $31.7 billion worth of property, up from $27.3 billion a year earlier and more than ever before, according to the association.
Cascade Sotheby’s broker Josephine Tang’s ‘Mother Tongue’ is Cantonese but she also speaks fluent Mandarin, Bahasa Indonesian and Malay, which have helped her serve a number of Asian clients. “I use WeChat to connect and communicate with my Asian referrals—we can both speak and share images of properties,” says Tang, who works out of the Cascade Sotheby’s Lake Oswego office. “Understanding Asian and American cultures and the languages spoken, and negotiation styles gives us such an advantage serving the growing Chinese market for US properties.”
Another significant differentiator for Cascade Sotheby’s brokers is Sotheby’s International Realty’s recent alliance with Chinese real estate site Juwai.com: the alliance enables the luxury real estate brand to generate Chinese buyer interest on one of the world’s most prominent real estate websites with over two million monthly visitors.
“The Sotheby’s International Realty collaboration with Juwai real estate site is a significant selling point for us in marketing properties abroad—every Sotheby’s listing will be featured on Juwai.com,” says Tang.
In addition, Cascade Sotheby’s recently appointed a new chief operating officer, Michael W. Kosmin, who has lived and worked in Asia for several years and since 2005 was responsible for property development projects in Asian markets. Before moving to Bend, Oregon three years ago, Kosmin lived in Indonesia where he was the managing director at Club Bali.
With deep experience in Asian real estate markets, Kosmin will lead the development of Cascade Sotheby’s Asian Desk catering to clients looking at real estate in the Pacific Northwest. Cascade Sotheby’s leverages Sotheby’s international offices, presence and prestige in China to be of service to that market.
“It is a huge advantage to Cascade Sotheby’s brokers and clients that company management has first-hand international work experience with an emphasis on serving international clientele,” says Tang.
Friederike Svensson, a Cascade Sotheby’s agent who moved to Oregon from Germany, has served numerous international real estate clients who work with German-based businesses in Portland including Daimler and Adidas. She says a number of German designers and engineers relocate in Oregon to work with the companies and participate in employee ‘swap’ programs.
“The Sotheby’s International Realty network and global brand recognition combined with a large community of multilingual brokers here really differentiates Cascade Sotheby’s,” says Svensson. “I definitely use my German and knowledge of cultural differences to work with an international clientele looking to relocate and invest in Oregon.”
Cascade Sotheby’s affiliation with Sotheby’s International Realty offers a distinctive advantage to reach an affluent global audience. With over 20,000 sales associates in approximately 880 offices and 69 countries and territories, the Sotheby’s network provides a profound international reach to market properties in Oregon and SW Washington.
And according to the recent United Van Lines annual study, Oregon continues to be one of the ‘top moving destinations’ in the nation.
Cascade Sotheby's International Realty franchise owner and CEO, Deb Tebbs, was the first on the West Coast to secure a Sotheby’s International Realty franchise to launch in Central Oregon in 2006. In 2015, she was awarded the franchise for Cascade Sotheby’s International Realty brokerages in Portland, Lake Oswego, SW Washington and the Oregon Coast. Portland is the last metro market in the nation for a Sotheby’s International Realty real estate presence.
The brokerage, which surpassed $1 billion in closed sales in fourth quarter 2016, continues its drive in the metro markets building on these statistics:
- 20% growth in market share in Portland metro and SW Washington from Q1 to Q2, 2017
- Tripled sales volume in Portland Metro market from 2015 to 2016
- Average price point for CSIR agents is 33% higher than other agents in Portland and SW Washington
- Double the market share from its closest competitor in Central Oregon in total sales volume in the region for 2016
- Grown from four offices in Central Oregon to 11 offices and 240 brokers throughout Oregon and SW Washington in just 12 months; signed 65 new brokers in the Portland/SW Washington markets in one year
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.
About Cascade Sotheby’s International Realty
Harnessing the worldwide recognition and prestige of the Sotheby’s name, Cascade Sotheby’s International Realty expertly represents the most distinctive properties at every price range. The firm's 11 strategic locations throughout Oregon and southern Washington form the most expansive luxury real estate network in the Pacific Northwest. Cascade Sotheby’s International Realty brokers are masters of their craft, combining local expertise and global connections to artfully unite extraordinary places with extraordinary lives. The firm achieved a billion dollars in sales in the first 11 months of 2016, joining only 25 Sotheby’s International Realty affiliates in the world with this distinction. Exceptional service, continual innovation, and unrivaled market knowledge continue to set Cascade Sotheby’s International Realty apart as an industry leader.
Contact: Claudia Johnson, Public Relations, 503-799-2220