Accelerating job growth in Washington, D.C. fuels the steady demand for residential real estate in the area. â€œWith close to $50 billion a year in transaction volume and prices lower than other global capitals, the Washington region will continue to be a dynamic market,â€ says Mark Lowham, CEO and Managing Partner at TTR Sothebyâ€™s International Realty. Wallace Tutt, Jonathan Taylor and Michael Rankin founded the company in 1988. Today, TTR Sothebyâ€™s International Realty is one of the highest-performing real estate firms in the United States.
Our real estate brokerage is increasingly competitive, and â€œour relentless focus on professional service sets us apart from new competitors who offer low cost, no-frills service or promised technology, which is yet to be tested,â€ says Mr. Lowham. The firmâ€™s constant investment in innovation is certainly a factor that has greatly contributed to its growth. In every sector, technology has created dramatic changes in the service industry, too. The team at TTR Sothebyâ€™s International Realty embraced this opportunity to develop integrated platforms that facilitate agent-customer communication early on.
Today the platform serves as a one-stop for agents to market their listings across multiple channels worldwide. TTR Sothebyâ€™s International Realty is the second largest brokerage firm in the Washington region, with sales exceeding $3 billion in 2017. â€œOur laser focus on integrity, professional service, and community leadership allowed us to capture more than $3 billion in closed sales in 2017, while also serving as one of Washington D.C.â€™s foremost leaders in corporate philanthropy,â€ Lowham added. Talking about what theyâ€™re doing and how successful they are, Mr. Lowham explained, â€œWe continue to service all price points, however, we dominate the upper brackets across the region, which is defined by homes priced $3 million and higher.â€
Integrity First â€“ TTR Sothebyâ€™s International Realtyâ€™s Unbiased Approach to Service
TTR Sothebyâ€™s International Realty clients represent a cross-section of Washington. The gamut includes everyone from first-time homebuyers to the most affluent business and philanthropic leaders in the country. Clients of the firm benefit from a global marketing platform, which merges traditional media with state-of-the-art digital technology, reaching 72 different countries around the world. â€œOur marketing platform is enhanced globally by our close working relationship with the venerable Sothebyâ€™s auction house. Sothebyâ€™s is recognized as one of the worldâ€™s most powerful luxury brands and this relationship offers our clients access to the worldâ€™s most discerning luxury real estate investors,â€ Mr. Lowham added.
â€œRegardless of the price point, our goal is to provide exceptional levels of service to everyone.â€ Supporting his statement, Mr. Lowham illustrated one of their recent projects in which they sold Merrywood, the childhood home of Jacqueline Kennedy Onassis, for $43 million one of the firmâ€™s record-breaking sales in the region. Meanwhile in the same week, they sold over 25 homes listed for under $ 1 million.
TTR Sothebyâ€™s International Realty has nine offices across Washington, D.C., Virginia, and Maryland, with over 450 licensed agents who are provided with the latest tools and technologies required for staying ahead of the competition. TTR Sothebyâ€™s International Realty has emerged as the second largest firm by sales volume in the Washington region. Through proprietary marketing, technology, digital strategies, and a long-standing commitment to community leadership, the firm has developed unrivaled access to the regionâ€™s most affluent and discerning buyers. TTR Sothebyâ€™s International Realty attracts clients who are well-traveled, experienced in luxury real estate investing, and understand Washingtonâ€™s unique position at the heart of global politics and commerce. Beyond the Nationâ€™s Capital, the firm engages with a global network of over 22,000 Sothebyâ€™s International Realty professionals every day.
Sothebyâ€™s International Realtyâ€™s Extraordinary Marketing and Luxury Real Estate
Sothebyâ€™s International Realtyâ€™s marketing strategy is grounded in the philosophy that each home has a unique story worthy of being shared on a global scale. Based on the unique attributes and features of the property, the firm creates a strategic plan to introduce the home to the broadest audience of potential buyers worldwide. These include a strategic mix of digital media, search engine optimization, community leadership, social media, and well-placed print advertising to drive engagement, interaction, and lead generation, ultimately creating maximum exposure for each property they represent.
When a property is represented by the Sothebyâ€™s International Realty brand, it benefits from immediate placement on the sir.com website, the worldâ€™s most visited website for luxury real estate. Through innovative programs and Sothebyâ€™s International Realtyâ€™s strategic collaborations with the worldâ€™s most influential and most powerful media powerhouses like the New York Times, The Washington Post, Bloomberg, and others, the site achieved over 27 million visitors, a 25% increase over last year. This provides Sothebyâ€™s International Realty and the real estate properties they represent unparalleled exposure to targeted affluent and potential buyers, both online and offline.
â€œWhen a listing is marketed through the Sothebyâ€™s International Realty network, it immediately begins a journey to worldwide exposure.â€
In addition, the Sothebyâ€™s International Realty website was the first luxury real estate website to leverage the power of video. â€œProfessional video is incredibly important to a luxury consumer. Sothebyâ€™s International Realtyâ€™s video platform allows these luxury consumers to be in a place that they canâ€™t otherwise be,â€ says Andy Wright, SVP of Advertising for The New York Times. Sothebyâ€™s International Realtyâ€™s website utilizes technology to further enhance the user experience including search capabilities that employ the most advanced and versatile search options available and allows users to define and refine how they want to search based not only on geography, but also on lifestyle and amenities.
Sothebyâ€™s International Realtyâ€™s eGallery is another marketing tool used exclusively by Sothebyâ€™s International Realty and its offices worldwide. It is a real-time, dynamic property slideshow designed to provide immediate global exposure for a property in over 960 offices worldwide. In addition, the firm also built a robust mobile application called SIR Mobile to provide users with instant access to property listings globally.
Feathers in Their Cap
The Real Estate Monarch: Mark Lowham
Mark Lowham joined TTR Sothebyâ€™s International Realty in January 2011 as CEO and Managing Partner. With over 35 years of banking, technology and real estate brokerage experience, he is widely recognized as a leader in the Washington, D.C. real estate community. He is also known to be a thought leader in terms of how the real estate brokerage is evolving into the 21st century. Prior to joining TTR Sothebyâ€™s International Realty, Mr. Lowham served as the Executive Vice President at WEST*GROUP, a leading commercial real estate development firm.
He earned his undergraduate degree in Economics from Stanford University and a Masters in Business Administration from the Stanford Graduate School of Business. Mr. Lowham serves in prominent leadership roles in a number of corporate, educational and non-profit organizations in the Washington metropolitan area.
Mr. Lowham is also a long-standing supporter of a number of regional charitable organizations. He currently serves as a member of the Board of Trustees of Wolf Trap Foundation for the Performing Arts and the Hillwood Estate and Museum. He has served as Chairman of the Board of INOVAâ€™s Life with Cancer Program for the past decade. In 2017, Mark was awarded the Adam D. Cockey, Jr. Community Leadership Award for his philanthropy and community leadership. In January 2018, Mark was named one of the 200 Most Powerful Individuals in US Real Estate by the Swanepoel T3 Group.
â€œConnecting buyers and sellers of luxury property requires skillful, multifaceted marketing; and that is exactly what the Sothebyâ€™s International Realty brand provides worldwide.â€
â€œOur brand is perceived by clients as much more than a real estate brand. We are considered to be a luxury icon in the same sphere as Rolls Royce, Rolex, and others.â€