Visitors from all over the world travel to the Monterey Peninsula to play 18 holes at one of the area’s famous golf courses…it’s the breathtaking scenery and beautifully architected homes that make them stay. With millions of dollars of real estate at stake, only one company in the area has the complete package of knowledge, experience, and tenacity to help facilitate the buying and selling of these luxury properties. Enter Sotheby’s International Realty’s three Monterey Peninsula offices. Not only is their average sales price significantly higher than most of their competitors, but Sotheby’s International Realty has seen its market share increase significantly in the past year while many of its competitors have instead suffered decreases. The differences are so notable that we had to ask: What’s their secret?
The Sotheby’s Name
With offices in more than 40 countries spanning five continents, it’s no wonder that Sotheby’s International Realty is known the world over for its success in luxury real estate. “When people see the Sotheby’s sign on our office and our beautiful properties in the window, whether they are from New York, Paris, or New Zealand, they recognize the brand,” says the region’s Vice President and Brokerage Manager, Janet Reilly. “They know Sotheby’s stands for unsurpassed quality, luxury, and professionalism. I have never had to explain who Sotheby’s International Realty was to a potential client–the brand speaks for itself.”
The firm’s number one sales agent on the Monterey Peninsula for more than a decade, Mike Canning, attests to the power of the 266-year-old Sotheby’s brand, which has helped him secure some of the most important properties here. These currently include the iconic “Butterfly House,” one of only five true oceanfront properties in all of Carmel. “The brand resonates unlike any other with buyers and sellers locally, regionally, and nationally,” Canning says. Another of the firm’s top Monterey Peninsula agents, Mike Jashinski, also affirms the power of the Sotheby’s name, as he attributes his decision to align with Sotheby’s International Realty’s Carmel office in 2010 to the brand’s unmatched reputation. He recalls, “The immediate affirmation that we made the right choice was the enthusiasm and acceptance by our sellers when we transferred to the Sotheby’s flag. We had about 40 listings and we did not lose a single one.”
While having a powerful name like Sotheby’s backing up their local offices surely does not hurt them, Sotheby’s International Realty’s Monterey Peninsula agents also take pride in the fact that they are more than just the name. They are highly productive members of an internationally acclaimed company.
Part of this success is a result of their astute marketing techniques and extensive understanding of their target market. While many firms have seemingly cut the cord on print advertising with the philosophy that it is outdated, Sotheby’s International Realty realizes its staying power. Reilly explains, “In this area, print advertising is still relevant as a high number of tourists pick up the local papers and take them home. We’ll get calls months after an ad has appeared for a particular property because the caller is looking at an ad we placed in a prior issue.” Sharon Swallow, another top producing agent, admits that one of the main reasons she was originally drawn to Sotheby’s International Realty was because of their marketing techniques. “The marketing differences between our company and other real estate companies are pronounced,” she says. “We have beautifully executed collateral marketing materials and the instantly recognizable brand image for luxury properties.”