Sotheby’s International Realty announced it will integrate the company’s affiliate network and company-owned brokerage as one global organization to be led by President and Chief Executive Officer, Philip White.
White has served as president and CEO of the Sotheby’s International Realty brand’s affiliate business for the past five years.
As one global organization, the brand’s company-owned brokerage, which includes 43 offices in 13 markets across the country, will now also be under his leadership.
As part of the integration, Sotheby’s International Realty company-owned brokerage leader Kathy Korte will transition into an advisory role focused on business growth and agent support.
“Across Realogy, we continue to look for ways to better serve affiliated agents and franchisees and help them be more successful,” said John Peyton, president and chief executive officer, Realogy Franchise Group, the world’s largest franchisor of residential real estate brands, including Sotheby’s International Realty.
“Bringing together the Sotheby’s International Realty affiliate network with the company-owned brokerage will allow the brand to move faster, better support affiliated agent needs and take advantage of the scale, market expertise and operational excellence that will come from an aligned organization.”
In 2018, Sotheby’s International Realty achieved its best year ever with a record global sales volume of more than $112 billion.
“I am excited to lead a combined Sotheby’s International Realty into the future,” said White. “With a legacy of strong leadership in global residential real estate and an expert team of operators, marketers, and managers, I believe Sotheby’s International Realty is well-positioned to build on our success and help affiliated agents and owners grow in their respective markets.”
Over the past 14 years with Sotheby’s International Realty, serving as Chief Operating Officer and President prior to his appointment as CEO, White has achieved what many thought was impossible – building a luxury real estate network of high-end independent brokerages under a franchise business model.
During that times, the brand has increased sales volume from $4.2 billion to $112 billion.