List Sotheby’s International Realty Expands In APAC
Leading luxury real estate brokerage List Sotheby’s International Realty already has a strong presence in the Asia-Pacific region with 15 existing offices in Japan, Hawaii, Singapore, Hong Kong, the Philippines, and a new office in Thailand opening in September. With the strong international presence, List Sotheby’s International Realty offers clients probably the largest distribution network that maximises the exposure of their properties.
With the aim to affirm its position in the real estate market as the Asian gateway to major cities in Asia-Pacific, LIST Co., LTD, which owns List Sotheby’s International Realty, has signed agreements with Sotheby’s International Realty Affiliates LLC to expand into Indonesia and Vietnam.
Operations in both countries are projected to open in 2019. With the addition of Indonesia and Vietnam, List Sotheby’s International Realty would become one of the largest regional real estate brokerages in Asia with presence in major cities. Its Singapore office is the Southeast Asian regional headquarters.
Mr Hisashi Kitami, President and Chief Executive Officer of List Sotheby’s International Realty, said: “Because of geographical and economical closeness, the addition of Indonesia and Vietnam to our current portfolio of locations will facilitate more cross-border transactions, which will be beneficial for all stakeholders including our clients, employees, and agents.”
In the coming years, Mr Kitami plans to connect major cities in Asia through the List Sotheby’s International Realty brand, and for the company to stand out as an all-in-one real estate company in the region to capitalise on the increasing property needs from both within and outside of the Asia Pacific region, and contribute in vitalising the local markets.
Mr Kitami views Asia as the region where continued growth in both the economy and population is expected. Commenting on the Asian market outlook, Mr Kitami said that the real estate needs in Asia is not only increasing but also becoming more diversified, and he expects the trend to continue, citing examples of international High Net Worth Individuals (HNWI) in search of investment opportunities in Asia; HNWI from Asia looking for investments outside; as well as residential demands and needs from the emerging middle/upper income class in Asia.
Responding to INSIGHTS on List Sotheby’s International Realty’s immediate plans from now till 2020, Mr Kitami shared enthusiastically that the company will hire more local people in each country as that will bridge cultural and communication gaps, and also give the company the edge of accessing local networks and information.
Emphasising the need for strong teamwork between the different offices and in staying ahead of new disruptive technologies impacting the market, Mr Kitami said: “Technology has and will continue to change the way people receive information. To establish ourselves as a regional market leader, we will focus on connecting our regional offices by leveraging the latest property related technologies and differentiate ourselves from the competition.”
“We will also continue to leverage the strength of the Sotheby’s International Realty brand, which has already built great brand awareness and is highly respected worldwide as a credible brand. The brand also has the unique position of having offices in 70 countries and regions, and it has partnerships with major media powerhouses such as Wall Street Journal and New York Times,” added Mr Kitami.
The List Group also owns a company that specialises in development investment. This is part of the Group’s larger strategy to enjoy greater efficiency and efficacy by having the development investment business and brokerage business together under one group. Individual businesses can share efforts and resources in the collecting of information and building of networks, while sharing best practices that would help each other avoid potential risks.
Congratulating List Sotheby’s International Realty on its expansion in Asia Pacific, Mr Philip White, President and Chief Executive Officer of Sotheby’s International Realty Affiliates LLC, said: “The addition of Vietnam and Indonesia to the List Sotheby’s International Realty portfolio will further establish their foothold in Southeast Asia. Hisashi Kitami and his team have a strong history of growth in the markets they serve, and we are proud to have them lead this venture."
The Sotheby’s International Realty network currently has more than 22,000 affiliated independent sales associates located in approximately 960 offices in 70 countries and territories worldwide. In 2017, the brand achieved a record global sales volume of $108 billion USD.
List Sotheby’s International Realty Singapore looks forward to working closely with our regional colleagues, including Thailand, Indonesia and Vietnam to continue building List Sotheby’s International Realty as a leading regional real estate brokerage.