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Gustave White Sotheby's International Realty has been the leading full service agency in Rhode Island for nearly 80 years. We have two offices – on Bellevue Avenue in Newport and on Granite Street in sterly.
We are proud of our long affiliation with Sotheby's International Realty®, which allows us direct access to the world's most discerning clientele. Sotheby's brokerage operation commenced in 1976 when it began its very first real estate affiliation with our company, then known as Gustave J.S. White Real Estate, providing a local service for clients of Sotheby's venerable auction house. Sotheby's quickly broadened its reach by offering top real estate brokerage firms a powerful marketing and referral program for fine properties serving a range of customers and locations. The Sotheby's International Realty® organization is currently comprised of a real estate brokerage operation and a franchise/affiliate system of independently owned and operated fine real estate companies.
The Sotheby's International Realty® franchise system today supports its affiliates with a host of operational, marketing, recruiting, educational, and business development resources. It also has a direct association with Sotheby's auction house, offering benefits to sellers unmatched by other real estate networks.
Gustave White Sotheby's International Realty is also the Rhode Island Regent Member of Who's Who in Luxury Real Estate with LuxuryRealEstate.com, an extensive global network of the top luxury real estate agencies, further expanding our web presence and customer base. And locally, we were voted Best Real Estate Agency by the readers of Newport Life magazine.
While real estate by nature is local, the marketplace, in reality, takes place nationally, globally, and now virtually. Both SothebysRealty.com and LuxuryRealEstate.com are vital keys to this global/virtual network, and includes offices in the world’s most sought-after locations. Sotheby's International Realty® brokers have a long history of exceeding the expectations of the world's most discerning buyers.
YEAR IN REVIEW – VIEW
Gustave White Sotheby's International Realty had another banner year with $180 million in real estate sales. We helped in 187 broker transactions, a very high number that belies headlines cautioning a market slowdown. Here in Rhode Island, we continue to attract buyers from throughout the Northeast region and beyond. Our annual statistics show that nearly 80% of our sales were to second- and third-home buyers. We had an average sale price of just under $1 million, which ranks as one of the highest in our area, and we have been the agency of record for the top residential sales in three of the six Newport County municipalities, including the highest ever residential sale recorded in Rhode Island at $17.15 million.
We are so thankful to be of service in these wonderful communities, providing expert real estate advice for sellers and buyers, both for long-standing clients and new referrals. It is because of our loyal clientele that we have been able to stay at the top of our game for so many years. We look forward to many more years of service, and offer our sincerest thanks to all of our clients and customers for their loyalty and continued business.
THE YEAR AHEAD - 2008
The new year has begun with a noticeable increase in traffic to our websites - GustaveWhite.com and SothebysRealty.com – and with an increase in telephone inquiries, as buyers appear to be gearing up for the Spring and Summer seasons. By the fourth week of January 2008, we had already closed more than $9 million in sales!
While we expect some local impact from the sub-prime mortgage crisis, we are confident that demand for properties in our area will remain solid, particularly for properties that are attractive as second-homes. In addition, interest rates are extremely attractive. The inventory of homes has increased modestly over the last twelve months, but overall there has been a steady supply of properties for sale, and those that are well priced or that offer unique amenities are having good market responses.
We are up and running with our fully integrated GustaveWhiteRentals.com website, which allows landlords and renters easy access to our large inventory of properties available for yearly and seasonal rentals, from waterfront mansions to seasonal cottages. There is no other service that allows potential clients such easy and up-to-date access!
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