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In an effort to reach out to a global market and specifically target higher end buyers, Ocean Atlantic Agency in Rehoboth Beach has joined forces with the prestigious Sotheby’s International Reality Affiliates, a luxury real estate network with offices located around the world.
The two companies announced the merger Wednesday, Aug. 27, at Rehoboth Beach Country Club as Ocean Atlantic finalized purchasing Brandywine Fine Properties, Sotheby’s preexisting location in Rehoboth.
The main driving force behind the transaction, explained Ocean Atlantic co-owner and managing broker R. Justin Healy, is to allow for expanded resources and a draw from a broader based global market.
The Rehoboth company’s listings will now appear on the Sotheby’s well-known website and be advertised through its many worldwide offices.
“This [merger] takes us from being a strong local player to having more regional, national and international presence for the homebuyer as well as for home sellers,” said Healy.
“Also the tools and resources provided by Sotheby’s International will help our agents succeed and become more effective,” said Healy.
Sotheby’s International President and Chief Executive Officer Michael R. Good said the timing of the merger was good, because properties in the coastal region of the United States have become particularly enticing to European markets.
This is due to the high value of the pound and Euro as it relates to the dollar.
“Delaware provides great opportunities to international buyers today, especially as the world continues to grow smaller, so to speak,” said Good. “Right now, buyers and sellers are looking for the right opportunities.” Communication of prime property locations are vital for those looking to take advantage of good investments, he said.
Partnership strong
Ocean Atlantic offers Sotheby’s a strong partner on the East Coast, said Good, stating the company has been a trusted name in luxury real estate and a provider of quality service.
“With the merger of this fine office,” he said, “they are positioning themselves as a compelling choice for consumers looking for high-end real estate in the area.”
While Ocean Atlantic’s location and previous staff will remain the same as before the merger, the consolidation of Sotheby’s Brandywine Fine Properties will give customers expanded services and more property availability, said Healy. The company has added more Realtors to its team as well as the Sotheby’s referral network, which gives clients unique opportunities to find properties throughout the world.
Sotheby’s International Realty was founded in 1976, said Good, and since it’s inception, it has been known for its luxury properties and listings in other price ranges.
It has more than 500 offices in 36 countries and its inventories and exclusive properties are unmatched in the business, he said.
The combination of Sotheby’s and Ocean Atlantic is also beneficial, stated Good, because clients are drawn from a rich, global market that is less affected by regional real estate trends.
Company officials said their partnership will play a crucial part in the future of real estate and customer service in Delaware and abroad.
Ocean Atlantic Sotheby’s International Realty is located at 330 Rehoboth Ave. For more information, call 302-227-6767.
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