Sun
Luxury real estate broker Sotheby’s International Realty has arrived in Vancouver. Former Intrawest executive Ross McCredie and two silent partners have acquired the B.C. and Alberta franchise rights from the Sotheby’s International Realty network, which is affiliated with the 260-year-old art and antiques dealer.
The new entity, called Sotheby’s Realty International Western Canada, opened its head office in Vancouver Wednesday with 10 sales and marketing agents. McCredie said the office would expand to 29 staff as the company opens branch offices in Whistler, West Vancouver, Victoria, Kelowna and Calgary this year.
Sotheby’s specializes in “distinctive” properties, McCredie said, the acid test being, “Would you tell your friends about it?” Homes listed by Sotheby’s in the U.S. average $580,000 US, but vary from market to market, he said.
The local franchise, the first for Sotheby’s in Canada, will operate three units selling residential and recreational properties, specialty properties (private islands and ranches, for example) and marketing residential projects for developers.
McCredie said he and his partners have a right of first refusal to franchises covering the rest of Canada and are seeking to buy them too.
Sotheby’s International Realty is a subsidiary of Cedent Corp., a global real estate franchisor.
© The Vancouver Sun 2005