SEATTLE, WA (March 1, 2012) – Executives at Realogics Sotheby’s International Realty (RSIR) announced recent organizational restructuring today with several new appointments.
Chad Zinda has been hired as Director of Sales and Designated Broker. Mr. Zinda joins the firm with more than 20 years of experience in professional development, most of which was in real estate as an active broker and a manager of several larger brokerage offices in the Seattle area. He is recognized as a certified sales trainer, with a passion to “build better brokers”. He will oversee all RSIR brokerage operations. Zinda says, “Despite a very challenging market, I’m impressed with what Realogics Sotheby’s International Realty has accomplished in just two years, and I’m thrilled to build upon the momentum of this dynamic team. I’m confident that our global brand, aligned business model, and collective sales results will differentiate us to new brokers and to our clients alike.”
Grant Gibbs has been retained as Brand Development Director to support broker recruitment. Mr. Gibbs comes to RSIR with many years of broker experience under several different business models and within several different realty brands. He is excited about this opportunity noting, “We are creating a fresh voice in the real estate industry, and we’re welcoming new brokers who desire to grow their businesses along with us.”
Sam Cunningham will be shifting his focus from brokerage operations to building a new resale team while also concluding several new construction accounts. Chris Rossman will be moving from Sales Director to help spearhead a new division focused on special asset classes, including note sales and the sale of land and commercial properties as RSIR continues to diversify.
Dean Jones, owner of Realogics Sotheby's International Realty said, “These organizational changes support our strategic growth plans as resale becomes a dominant product category for the next several years. We’re fortunate to have had the leadership of both Sam and Chris during our first two years. We are excited about their new roles as well as the addition of Chad and Grant. Collectively they will help us take our brokerage to the next level.”
Since acquiring the Sotheby’s International Realty franchise on February 23, 2010, RSIR has diversified from their successes on high-rise new construction condo projects by quietly developing its resale agent roster. Today there are 45 active brokers, representing a broad spectrum of markets and product niches. The firm launched a new branch office on Bainbridge Island in 2011. Total gross sales volumes in 2011 grew to $178 million and resale activity represented the greater majority over new project sales. This activity includes several record sales from its top-producing resale brokers.
According to Jones, there is a dearth of new construction inventory for sale in the greater Seattle area with few (if any) condo projects in the pipeline. RSIR represents six of the seven remaining new condo projects in the city center and approximately half of the estimated 215 unsold, developer-owned condos that remain in the marketplace. Jones notes that current inventory is less than 10 percent of the total new construction “for sale” product that was delivered since the market peaked in 2007. He predicts it could be until at least 2015 before any new, for sale product delivers in downtown Seattle.
“As a general brokerage, we seek as much portfolio diversification as we can earn,” adds Jones. “As the economy improves, we’ll be well positioned for another cycle of apartment conversions and eventually, new construction ahead.”
About Realogics Sotheby's International Realty
Founded in 2010, Realogics Sotheby’s International Realty is a Seattle-based, full service real estate brokerage specializing in uniting exceptional properties with extraordinary lives. The firm has quickly risen to be a top‐selling brokerage in downtown Seattle according to Trendgraphix, Inc. and with new brokers the brokerage has expanded its services to represent all product types and price points in the greater Seattle area, Bainbridge Island and the Eastside markets. While boutique in size, Realogics Sotheby’s International Realty is currently listed as the 11th largest realty by sales volume in the Puget Sound by the Puget Sound Business Journal’s Book of Lists for 2011. Visit www.RealogicsSothebysRealty.com.