List Sotheby’s International Realty Announces Expansion Plans In Asia-Pacific
Singapore, 3 August 2018 – List Sotheby’s International Realty is expanding its foothold in the Asia-Pacific region, with new offices opening in three Southeast Asian countries and the expansion of its Singapore office which will serve as its Southeast Asia regional headquarters.
List Sotheby’s International Realty is known for its strong international presence, and the company’s key strength lies in the combination of established expertise in domestic real estate with a global network around the world.
To date, List Sotheby’s International Realty has 15 offices in the Asia Pacific region. This includes 10 offices in Japan’s major cities such as Tokyo and Yokohama, two offices in Hawaii and one office each in the Philippines (opened in 2016), Singapore (2017) and in Hong Kong (2017). A new office in Bangkok, Thailand will be opening in September 2018.
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 also 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 Offer of Japan’s List Group, who is also the 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.”
As a comprehensive real estate company, List Sotheby’s International Realty has built up a one-stop service framework across the entire group, catering to a diversity of clients’ needs including luxury residential brokerage. Making the most of the brand’s extensive knowledge of the domestic and overseas markets, and with specialised information from all over the world shared with each office, List Sotheby’s International Realty is changing the traditional concept of real estate transactions.
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.
Emphasising the need to stay ahead of new disruptive technologies impacting the real estate industry, 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.”
On the expansion of List Group and List Sotheby’s International Realty in Asia-Pacific, in particular Southeast Asia, Mr Yasushi Yamada, Chief Operating Officer of List Holdings Singapore Pte. Ltd. and Head of Asia Region, List Sotheby’s International Realty, said: “The real estate market in Southeast Asia is very active and has immense growth potential. List Sotheby’s International Realty is riding the wave in the region and has gained a good standing in its relatively short time since the various offices have been set up. We will be creating more platforms and opportunities for the regional offices to collaborate together and reap greater synergies.”
After slightly more than a year of operations, the Singapore office will also be expanding its team of real estate agents, or relationship managers as they are known as in List Sotheby’s International Realty.
Mr Leong Boon Hoe, Chief Operating Officer, List Sotheby’s International Realty, Singapore, said: “With our strong international presence, List Sotheby’s International Realty offers our clients probably the largest distribution network that will maximise the exposure of their properties for sale or lease. Not only does it mean that buyers get a wider selection of exclusive homes, sellers also get more exposure and reach out to more prospective buyers internationally and locally, with the highest level of service they have come to expect from our real estate professionals.”
The distribution network involves having the company’s property listings being distributed through a cascading network of marketing platforms including the websites of other Sotheby’s International Realty affiliates, as well as prominent global media companies and real-estate focused websites, as such The New York Times, The Wall Street Journal, The Financial Times, juwai.com from China and many others.
Besides the strong network of distribution channels, the company also focuses on empowering the relationship managers by arming them with the latest market intelligence. In addition, List Sotheby’s International Realty is also investing in technology to maximise efficiency and efficacy in its daily work processes as well as to further harness the power of digital marketing.
Heritage of the List Sotheby’s International Realty Brand
One of the key reasons for the brand’s success is the fact that it has deep and strong roots in two well-established brands – List Group from Japan and Sotheby’s International Realty from the United States of America, respectively.
The List Group was founded in 1991 by its Chief Executive Officer and owner, Mr Hisashi Kitami. It was first established in Yokohama, Japan, as a residential real estate brokerage but has since expanded to a major global company with more than 500 employees today. Besides being a major player in the international realty industry, the List Group’s core businesses include the development, construction and management of properties in Japan, as well as asset and investment management.
The global expansion of List Sotheby’s International Realty is also the result of the strong ties the company has with Sotheby’s International Realty, an internationally recognised brand that was founded in 1976 as the real estate arm of the prestigious Sotheby’s Auction House to provide independent brokerages with a powerful marketing and referral programme for luxury listing. The Sotheby’s International Realty network currently includes more than 22,000 affiliated independent sales associates located in approximately 960 offices across 70 countries and territories worldwide, including India, Canada and the USA. In 2017, the brand achieved a record global sales volume of USD$108 billion.
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.”