|By PR Newswire||
|August 12, 2014 11:52 AM EDT||
AUSTIN, Texas, Aug. 12, 2014 /PRNewswire/ -- Kuper Sotheby's International Realty, the San Antonio-based affiliate of the Sotheby's International Realty® brand, today announced the acquisition of Austin-based Amelia Bullock Realtors. Capital City Sotheby's International Realty, owned by Kuper Sotheby's International Realty for two years, has merged with Amelia Bullock Realtors and, along with the current Kuper Sotheby's office in San Antonio, will now collectively be known as Kuper Sotheby's International Realty.
"We could not be more excited and proud to acquire and merge with one of Austin's premiere real estate agencies," J Kuper, broker of Kuper Sotheby's International Realty, said. "We know that when combined, the power of our agents, internal teams and the Sotheby's International Realty brand will cement our status as one of Central Texas' top real estate companies by any measurement."
The newly combined agency will have 139 sales associates in Austin, as well as 107 sales associates in San Antonio. With the acquisition, Kuper Sotheby's International Realty will rank fourth in Austin for total sales volume, according to the Austin Board of Realtors (ABoR) multiple listing service (MLS) and BrokerMetrics.
"Amelia Bullock Realtors and Kuper Sotheby's International Realty share the same culture and values, and are both family-owned businesses," Amelia Bullock, founder and co-owner of Amelia Bullock Realtors, said. "Both companies are known for fairness, integrity and dependability, which is why we know this is the best opportunity to provide an even brighter future for our associates."
The combined companies have executed more than 1,000 transactions in the past 12 months with a total value of approximately $600 million and an average of $511,000 per transaction. The new agency will have an average transaction price that is approximately 80 percent higher than the MLS average. Sales associates with Kuper Sotheby's International Realty are projected to have an average production that is 54 percent higher than the average sales associate in the MLS.
In 2012, J Kuper purchased Capital City Sotheby's International Realty, an eight-year-old Sotheby's International Realty affiliate with two offices—one in the Barton Creek area and one in the Bee Caves area. With the acquisition, Kuper Sotheby's International Realty now has four offices in Austin in addition to four offices in San Antonio.
Amelia Bullock Realtors was founded in 1969 by Amelia Bullock in her home and grew from three friends working together to more than 80 agents 45 years later. The brand quickly became known in Austin as a preeminent residential real estate company.
"We chose Kuper Sotheby's International Realty because they provide the right environment and opportunities for all of our associates in our real estate family," Barbara Wallace, co-owner of Amelia Bullock Realtors, said. "I look at this as a continuance of our legacy, and I hope our agents are just as proud as I am to join the No. 1 name in international real estate."
Click here to view a video about the acquisition.
Austin is Texas' fourth-largest city and has been named numerous times as the "Best City for Jobs" by Forbes Magazine, as well as "Best Big City to Live In" by CNN. More than 110 people move to the city every day according to the City of Austin, making it the fastest-growing large metro area in the country.
"The Austin and Central Texas market is one of the most active in the world, and we are seeing an increase in international interest in the area," Philip White, president and chief executive officer of Sotheby's International Realty Affiliates LLC, said. "The addition of such a distinguished agency to our already successful network of affiliates will generate additional referral opportunities for all."
The Sotheby's International Realty network currently has more than 15,000 independent sales associates located in approximately 720 offices in 52 countries and territories worldwide. Kuper Sotheby's International Realty listings will be 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 the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each affiliate is independently owned and operated.
About Kuper Sotheby's International Realty
Charles Kuper, Sr. and Charles Kuper, Jr. founded Kuper Sotheby's International Realty in 1972 in San Antonio, Texas. In 1976, Kathleen Kuper joined her husband and son. Rick Kuper, Charles Kuper, Sr.'s brother, bought the company in 2007 after 26 years of real estate experience. Kuper Sotheby's International Realty is now under the leadership of Rick's son J who is owner and principal broker for the San Antonio and Austin offices. Rick remains an active broker and serves as president of the brokerage. The company acquired Amelia Bullock Realtors, one of Austin's preeminent residential real estate companies, in 2014. For more information, please visit www.kuperrealty.com.
About Sotheby's International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into 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 full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.
SOURCE Kuper Sotheby’s International Realty
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