STOCK TITAN

Sotheby's International Realty Expands into South Dakota

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags

Sotheby's International Realty has announced its expansion into South Dakota with the opening of Grand Sotheby's International Realty in Sioux Falls. The new office, owned and operated by Dana Fisher and Danielle Konechne who bring nearly 40 years of combined real estate experience, marks the brand's first affiliated office in the state. Fisher serves as a planning and zoning commissioner, while Konechne is known for achieving record-breaking prices.

The expansion strengthens Sotheby's International Realty's network, which currently includes more than 26,300 affiliated independent sales associates across 1,100+ offices in 83 countries and territories. The new office will benefit from Sotheby's global marketing programs, auction house association, and exclusive marketing tools to serve clients in Sioux Falls and surrounding areas.

Sotheby's International Realty ha annunciato la sua espansione nel Dakota del Sud con l'apertura di Grand Sotheby's International Realty a Sioux Falls. Il nuovo ufficio, di proprietà e gestito da Dana Fisher e Danielle Konechne, che portano quasi 40 anni di esperienza combinata nel settore immobiliare, rappresenta il primo ufficio affiliato del marchio nello stato. Fisher è un commissario per la pianificazione e il zonaggio, mentre Konechne è conosciuta per aver raggiunto prezzi record.

L'espansione rafforza la rete di Sotheby's International Realty, che attualmente include più di 26.300 venditori indipendenti affiliati in oltre 1.100 uffici in 83 paesi e territori. Il nuovo ufficio beneficerà dei programmi di marketing globale di Sotheby's, dell'associazione con la casa d'aste e di strumenti di marketing esclusivi per servire i clienti a Sioux Falls e nelle aree circostanti.

Sotheby's International Realty ha anunciado su expansión en Dakota del Sur con la apertura de Grand Sotheby's International Realty en Sioux Falls. La nueva oficina, propiedad y operación de Dana Fisher y Danielle Konechne, quienes aportan casi 40 años de experiencia combinada en bienes raíces, marca la primera oficina afiliada de la marca en el estado. Fisher se desempeña como comisionada de planificación y zonificación, mientras que Konechne es conocida por conseguir precios récord.

La expansión fortalece la red de Sotheby's International Realty, que actualmente incluye a más de 26,300 asociados de ventas independientes afiliados en más de 1,100 oficinas en 83 países y territorios. La nueva oficina se beneficiará de los programas de marketing global de Sotheby's, la asociación con la casa de subastas y herramientas de marketing exclusivas para atender a los clientes en Sioux Falls y sus áreas circundantes.

Sotheby's International RealtyGrand Sotheby's International Realty가 수우폴스에 사무소를 열면서 사우스 다코타주로의 확장을 발표했습니다. 새 사무소는 Dana Fisher와 Danielle Konechne가 운영하며, 두 사람은 합쳐서 거의 40년의 부동산 경험을 보유하고 있습니다. 이는 해당 주에서 브랜드의 첫 번째 제휴 사무소가 됩니다. Fisher는 계획 및 구역 위원으로 활동하고 있으며, Konechne는 기록적인 가격을 달성한 것으로 알려져 있습니다.

이번 확장은 Sotheby's International Realty의 네트워크를 강화합니다. 현재 83개국 및 지역의 1,100개 이상의 사무소에 걸쳐 26,300명 이상의 독립 판매 협력자가 포함되어 있습니다. 새 사무소는 수우폴스와 인근 지역의 고객들을 위해 Sotheby's의 글로벌 마케팅 프로그램, 경매하우스 협회 및 독점 마케팅 도구의 혜택을 받을 것입니다.

Sotheby's International Realty a annoncé son expansion dans le Dakota du Sud avec l'ouverture de Grand Sotheby's International Realty à Sioux Falls. Le nouveau bureau, détenu et géré par Dana Fisher et Danielle Konechne, qui totalisent près de 40 ans d'expérience combinée dans l'immobilier, marque le premier bureau affilié de la marque dans l'État. Fisher est commissaire en planification et zonage, tandis que Konechne est connue pour avoir atteint des prix record.

Cette expansion renforce le réseau de Sotheby's International Realty, qui comprend actuellement plus de 26 300 associés de vente indépendants dans plus de 1 100 bureaux répartis dans 83 pays et territoires. Le nouveau bureau bénéficiera des programmes de marketing mondial de Sotheby's, de l'association avec la maison de vente aux enchères et d'outils de marketing exclusifs pour servir les clients à Sioux Falls et dans les environs.

Sotheby's International Realty hat seine Expansion nach South Dakota mit der Eröffnung von Grand Sotheby's International Realty in Sioux Falls bekannt gegeben. Das neue Büro, das von Dana Fisher und Danielle Konechne betrieben wird, die zusammen fast 40 Jahre Erfahrung im Immobilienbereich haben, stellt das erste angeschlossene Büro der Marke im Bundesstaat dar. Fisher arbeitet als Planungs- und Zonierungsbeauftragte, während Konechne dafür bekannt ist, Rekordpreise zu erzielen.

Die Expansion stärkt das Netzwerk von Sotheby's International Realty, das derzeit mehr als 26.300 unabhängige Vertriebspartner in über 1.100 Büros in 83 Ländern und Gebieten umfasst. Das neue Büro wird von den globalen Marketingprogrammen von Sotheby's, der Zusammenarbeit mit dem Auktionshaus und exklusiven Marketinginstrumenten profitieren, um Kunden in Sioux Falls und den umliegenden Gebieten zu betreuen.

Positive
  • Expansion into new market (South Dakota) increasing geographic footprint
  • Addition of experienced leadership team with strong local market knowledge
  • Network growth to over 26,300 affiliated sales associates across 83 countries
Negative
  • None.

Insights

This expansion into South Dakota represents a strategic move in Sotheby's International Realty's growth trajectory, but its immediate financial impact on HOUS will be minimal. Sioux Falls, while South Dakota's largest city, has a relatively modest luxury real estate market compared to major metropolitan areas. The median home price in Sioux Falls is significantly lower than in traditional luxury markets, hovering around $300,000. However, the city's recent economic growth and increasing appeal to remote workers could present long-term opportunities. The selection of experienced local leaders Fisher and Konechne, with their combined 40 years of market expertise, suggests a well-planned entry strategy. This expansion completes Sotheby's presence in another U.S. state but is unlikely to materially affect HOUS's near-term financial performance or stock value.

The entry into South Dakota fills a geographic gap in Sotheby's national coverage but represents a modest expansion opportunity. Sioux Falls' population of approximately 200,000 and its growing business sector provide a foundation for luxury real estate services, yet the market size is compared to Sotheby's established territories. The partnership leverages local expertise through well-connected operators, which minimizes operational risks. This franchise model expansion aligns with HOUS's asset-light growth strategy, requiring minimal capital investment while potentially generating steady franchise fee revenues. However, given Sioux Falls' market size and current luxury property inventory, this expansion will likely contribute marginally to HOUS's overall revenue stream, which already spans over 1,100 offices globally.

NEW YORK, Dec. 9, 2024 /PRNewswire/ -- Sotheby's International Realty has announced the opening of Grand Sotheby's International Realty in Sioux Falls, South Dakota, marking the brand's first affiliated office in the state.

Headquartered in Sioux Falls, Grand Sotheby's International Realty will serve Sioux Falls and the surrounding area. The firm is owned and operated by Dana Fisher and Danielle Konechne, who together bring nearly four decades of real estate experience to the company. With a dedicated career in real estate, Fisher serves as a planning and zoning commissioner for Lincoln and Minnehaha County and the City of Sioux Falls. As a highly accomplished broker with a strong foundation in business and economics, Konechne has a remarkable track record of achieving record-breaking prices.

"As South Dakota's largest city, Sioux Falls is a vibrant business and cultural hub that offers a rich array of restaurants, cafes, art galleries, and theaters. It has become a magnet for buyers who value community and a quieter pace of life while still enjoying first-class services and cultural offerings," said Philip White, president and CEO, Sotheby's International Realty. "We look forward to supporting the Grand Sotheby's International Realty team as we expand our presence into South Dakota."

"Our mission is to help clients navigate the complexities of buying and selling real estate while ensuring a seamless, stress-free experience," said Fisher. "Our affiliation with Sotheby's International Realty will allow us to better serve our clients and elevate our offerings by providing global reach and exclusive marketing tools to help them achieve their real estate goals," added Konechne.

The Sotheby's International Realty® network currently has more than 26,300 affiliated independent sales associates located in more than 1,100 offices in 83 countries and territories worldwide. Grand Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.

Sotheby's International Realty

Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,100 offices located in 83 countries and territories worldwide, including 48 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.

The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Anywhere Real Estate Inc. (NYSE: HOUS) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.

CONTACT 
Rachel Colletta
Senior Manager, Public Relations & Communications 
Sotheby's International Realty 
212.606.4134
rachel.colletta@sothebys.realty

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/sothebys-international-realty-expands-into-south-dakota-302324294.html

SOURCE Sotheby's International Realty

FAQ

When did Sotheby's International Realty expand into South Dakota?

Sotheby's International Realty announced its expansion into South Dakota on December 9, 2024, with the opening of Grand Sotheby's International Realty in Sioux Falls.

Who owns the new Grand Sotheby's International Realty office in Sioux Falls?

The new office is owned and operated by Dana Fisher and Danielle Konechne, who together bring nearly four decades of real estate experience.

How many offices does Sotheby's International Realty currently have worldwide?

Sotheby's International Realty network has more than 1,100 offices across 83 countries and territories worldwide, with over 26,300 affiliated independent sales associates.

Anywhere Real Estate Inc.

NYSE:HOUS

HOUS Rankings

HOUS Latest News

HOUS Stock Data

393.87M
105.13M
4.98%
94.95%
3.2%
Real Estate Services
Real Estate Agents & Managers (for Others)
Link
United States of America
MADISON