Sotheby's International Realty Brand Expands in Boston
MADISON, N.J., Jan. 16, 2020 // PRNewswire // - Sotheby's International Realty Affiliates LLC today announced that its independently owned and operated affiliate, Gibson Sotheby's International Realty in Massachusetts, has acquired local firm, Benoit Mizner Simon & Co., which has achieved more than $4 billion in sales revenue since its inception. The company will now operate as Gibson Sotheby's International Realty.
"Boston is a region that continues to see tremendous growth year-over-year," said Philip White, president and chief executive officer, Sotheby's International Realty. "Over the past 14 years, Larry, Paul and their team have achieved notable success and have provided unparalleled client service to the Boston area. We are proud to support the continued growth of Gibson Sotheby's International Realty."
The merger expands the firm's presence in the Boston MetroWest residential real estate market. Co-owned and operated by Larry Rideout, chairman, and Paul McGann, president, of Gibson Sotheby's International Realty, the acquisition expands the company's footprint to include offices in Wellesley, Weston, Needham, and Sudbury, Massachusetts. Gibson Sotheby's International Realty now has 22 offices and more than 350 independent sales associates.
"The acquisition marks a significant achievement for our firm and further increases our presence in the Boston area," said Larry Rideout, chairman and co-owner of Gibson Sotheby's International Realty. "There is a continued demand for luxury and residential homes in our market and the right representation enables us to further drive the success of our agents."
As part of the merger, principals Debi Benoit, Amy Mizner, and Sheryl Simon will join the company, uniting their esteemed local standing with the Gibson Sotheby's International Realty firm's premier reputation. The award-winning company brings their extensive experience and expertise in representing leading luxury properties across Dover, Natick, Needham, Sudbury, Wayland, Wellesley, Weston, and Westwood.
With this addition, the Sotheby's International Realty® network now has a total of 46 affiliated and company-owned offices throughout the state of Massachusetts.
The Sotheby's International Realty network currently has more than 23,000 affiliated independent sales associates located in nearly 1,000 offices in 71 countries and territories worldwide. In 2018, the brand achieved a record global sales volume of $112 billion USD. Gibson Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.
About Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans nearly 1,000 offices located in 71 countries and territories worldwide, including 44 company-owned brokerage offices in key metropolitan and resort markets. 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 franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Sotheby's International Realty Affiliates LLC and Sotheby's International Realty Inc., both fully support the principles of the Fair Housing Act and the Equal Opportunity Act.
Sotheby's International Realty Affiliates LLC
SOURCE Sotheby’s International Realty Affiliates LLC