Gibson Sotheby’s Celebrates Its First Year Anniversary

Local firm finds remarkable success in global affiliation

“We never dreamed that we could achieve this kind of success in our first year. It is like an early holiday gift,” said Larry Rideout. He and his partners, Paul McGann and Michael Hansen, acquired Boston’s largest independent real estate company in November of 2006 and brought it into the Sotheby’s International Realty network one month later. “Sotheby’s international reach and high standards were just what Boston homeowners were looking for and they have welcomed us into their homes in the most remarkable way.”

In the months following that landmark announcement last December, the partners absorbed a Westwood office to reach out to suburban homeowner’s and then merged with Back Bay’s luxury powerhouse, Dickerson Real Estate. Then, the most successful Waterfront office joined them, followed by Lois R. Kunian Real Estate, a 27 year veteran of the business. They further enhanced their portfolio of services by building a relocation division that has now placed more than 400 referrals around the world, winning an award in October at the Who’s Who in Luxury Real Estate Fall Conference in Vancouver. Gibson Sotheby's was one of only 8 award winners within the network of over 450 luxury real estate firms.

“While many other companies have been downsizing, we’ve been growing,” said Owner, Paul McGann. “After acquiring the top company in the city and bringing in the centuries old Sotheby’s name, other agencies began calling us. We completed our 3 year plan in the first 10 months.” Gibson Sotheby’s International Realty more than doubled their agent base in first year, upgraded their offices and opened a new space at 69 Newbury Street. They exceeded last year’s sales volume by the end of August and raised sales by more than 36% over last year. Since January, their firm’s ranking has been boosted from number 16 to number 10 in the state (source: MLS). Their Rental Division, the largest in the city, was up 33% over last year. So what about the down market? “We haven’t seen it,” said Hansen. “We’ve been helping more people purchase homes this year than I can remember. We’ve seen the real estate market slow down a bit around the country. But, in and around Boston, homes are in high demand.”

The company has also participated in several events around the world to see how they might find new ways to service their clientele. “In the last year, we’ve been to New York, Connecticut, Scottsdale, Colorado, California, Grand Cayman, Canada, England…” said John Ranco, Gibson Sotheby’s Sales Manager. “In fact, we just got back from Las Vegas for the National Association of Realtors Convention. Last week I had the opportunity to visit our office in London & toured the Auction House at New Bond Street. Each trip is an opportunity to develop as individuals and as a company, knowing that local homeowners benefit from our professional growth and our personal investment in our service.“ Ranco notes that Sotheby’s global ties allow his Boston firm to reach out to the influx of international investors who are taking advantage of the powerful Euro.

The growth plan for Gibson Sotheby’s International Realty in 2008 is under wraps. “We have some very exciting plans in the works,” said Rideout. “Don’t be surprised if we complete our 5 year plan in the next 12 months.”

For more information, go to http://www.gibsonsothebysrealty.com/ or call 617.426.6900.