Scottsdale-based RETSY surpasses $1B in sales in 18 months
RETSY, one of the fastest-growing tech-based luxury brokerages in the Valley, announced that it has surpassed $1 billion in sales just 18 months after its launch. This impressive milestone earned the firm recognition and honors from Forbes Global Properties, a curated consumer marketplace that connects discerning buyers directly to the world’s finest homes and the best-in-class agents that represent them. RETSY was only one of a handful of the Valley’s many brokerages to hit this mark, and to do so in less than two years of operation sets it apart from the pack.
Launched in October 2020 amid the global COVID-19 pandemic, the tech-based brokerage achieved immediate success. RETSY hit the billion-dollar mark with only 78 agents completing a total of 886 sales transactions, 38% of which RETSY exclusively represented the seller, 55% where the firm represented the buyer, and 8% where both sides were expertly represented.
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RETSY’s innovative approach to the industry took the market by storm as many of the Valley’s elite and top producing agents sought to be a part of the firm. With those industry veterans came the trust and loyalty of affluent home buyers and sellers that were looking for greater exposure and access via the technological advances built from scratch and implemented by RETSY Founder Chris Morrison.
For several years, Morrison has developed and rolled out platforms designed to catapult elite agents to new heights. These solutions include the utilization of QR technology across all media, in-house and client-based applications, and exceptional back-end operations. While agents are outpacing their competitors, these cutting-edge tools have a direct impact on RETSY’s clients as well. Buyers and sellers reap the benefits of the unique media options available to showcase listings, the audience-targeted advertising tools and the listing-specific QR codes on signage that coincides with their designated landing page. Clients are typically under contract quicker, experience greater ease and efficiency throughout the process, and have a higher level of satisfaction with the transaction results compared to other brokerages.
RETSY has attracted exceptional agents and clients in its short time. In September 2021, after less than a year in operation, RETSY was selected by Forbes Global Properties as the first firm to be awarded membership in Arizona where it exclusively represents the brand across the Phoenix metro area, including the most desirable and luxurious areas of Scottsdale, Arcadia and Paradise Valley.
Inclusion within the Forbes network further extended RETSY’s reach locally and globally. RETSY’s listings are presented across Forbes and Forbes Global Properties platforms, and it has seen remarkable engagement and success with Forbes’ captive audience of more than 100 million monthly visitors. This global access allows the luxury brokerage to inform potential homebuyers and sellers throughout the world of the Valley’s market conditions and showcase the finest properties for sale through print, digital and social media channels, including expert commentary, timely market data and top-tier editorial.
True to its founding mission of celebrating and bolstering independent agents, since joining Forbes Global Properties, RETSY has continued to attract more of the Valley’s highest-producing agents. It has expanded its impressive roster by more than 50% and has additional offices valley-wide in the works.
“I could not be prouder of the community we have built here at RETSY,” said Morrison. “Our exceptional agents are equally exceptional people. Watching each of them excel in their individual business with the use of our new technology systems is very humbling. RETSY began in collaboration with elite agents and teams including The TEAM, and the Morrison Team. Over the last year and a half, we have welcomed many of the very best in class, including the Gabel Phillips Group, The Linehan Group, ROCO Luxury Homes, The Connie Colla Group and St John International, to name a few. Our agents and teams are so impressive andI am inspired by them daily. Our relationship with Forbes Global Property gives RETSY agents a deserving international stage to showcase their spectacular listings and remind the world why Arizona remains one of the fastest-growing states in the country.”
The following spotlight transactions are included among RETSY’s 18-month accomplishments.
• Libby Cohen of ROCO Luxury Homes represented the buyer of 6121 N Nauni Valley Drive, Paradise Valley which closed 1/27/22 for $12,500,000.
• The buyer of 7808 N Calle Caballeros, Paradise Valley was represented by Babbi Gabel of the Gabel Phillips Group and closed 4/21/22 for $9,890,000.
• Rebecca Clayton of The TEAM represented the buyer of 5901 E Stella Ln, Paradise Valley. The $6,650,000sale closed on 7/9/22