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Damianos Sotheby's International Realty, Sotheby's International Realty

Buzz Talk with Philip White, President and Chief Executive Officer of Sotheby’s International Realty Affiliates LLC

This article originated from BuzzBuzz Home.

Philip White became captivated by the magic of Sotheby’s auctions while on a trip abroad. No stranger to taking a chance, White pursued a position in their newly formed Sotheby’s International Realty Affiliates LLC, despite his background in finance — ultimately landing in the Manhattan real estate division.

Drawing on his years in the military, White is passionate about providing the ultimate customer experience and implementing new technologies to keep the Sotheby’s International Realty brand light years ahead of its competition.

We caught up with White to talk about the legacy of the Sotheby’s brand and the future of Sotheby’s International Realty.

BuzzBuzzNews: How did you first enter the real estate industry? What drew you to the industry?

Philip White: Although I graduated from the University of Virginia with finance background, I studied art and literature in London. I used to write an art market column for a magazine, Southern Accents.

In London, I was introduced to a friend’s sister, who worked in the French Impressionist Department for Michele Strauss, the expert in that field for Sotheby’s auction house. I was invited to different auctions and found the experience and the magic of Sotheby’s selling wonderful things to the world’s wealthiest clients to be an amazing process.

I became a banker by trade and was in New York City when I heard about the formation of Sotheby’s International Realty and its COO. I realized that this new entity could be a job that combined my banking experience with my desire to be part of the Sotheby’s brand.

I took a risk and called the COO (Fred Schultze). I introduced myself as a reporter for Southern Accents and asked for an interview. When I met with him, I confessed my real reason for wanting to meet, and I was eventually offered a job.

BBN: Being a veteran of the USMC, how did your military experience shaped your work ethic and how has it helped you succeed in the business of luxury real estate?

PW: The Marine Corps provided me a strong foundation for dealing with adverse conditions, challenging situations, and ultimately the opportunity to make decisions based on the available information. This has helped me in understanding how to manage a high-end clientele.

BBN: What challenges did you face taking the reins at Sotheby’s International Realty?

PW: I was well prepared to take over as CEO of Sotheby’s International Realty Affiliates LLC, having served as President and COO prior to that, as well as having owned my own real estate company.

The challenge I faced was to develop a strategy to grow the brand while maintaining the quality. We were able to accomplish that with global sales volume reported last year at $108 billion USD and an annual growth rate far exceeding the overall market, while increasing our average sales price, which also far exceeds the national average.

BBN: What do you think specifically separates the “Sotheby’s” brand of luxury real estate from its competitors?

PW: Obviously, our rich heritage of handling many record sales over the years for many of the world’s wealthiest customers provides a great legacy. With that as a backdrop, we have been able to be innovative in marketing and technology, providing the best-in-class tools and support for our agents and brokers around the world.

The strength of the Sotheby’s International Realty brand is also attributable to the professionalism of our agents who, in 2017, led the way in terms of the largest number of agents ranked by REAL Trends/The Wall Street Journal “The Thousand” in the category of individual sales volume and the highest average sales price.

BBN: The sales volume in 2017 totaled an astounding $108 billion globally and over $96 billion in the US — topping the brand’s high recorded in 2016. What strategies do you credit for this unprecedented level of success?

PW: We have a very skilled team at the corporate level that provides assistance to our affiliated companies in terms of mergers and acquisitions, agent recruitment, converting existing independent companies, and increasing per agent productivity.

On the international side of our business, last year was somewhat of a turning point as we started to see the business ramping up faster as a result of all the work we have done over the past number of years opening offices in high-growth markets.

BBN: What drew you to get involved with New Story? Why is this an important cause for you?

PW: A safe home provides the foundation for health, education and opportunity. When my team and I met Brett Hagler and the New Story team, we felt inspired by their mission to build sustainable homes for those in need.

Teaming up with New Story as a charitable partner allowed us to extend the services we provide daily: to help people discover homes that allow them to live their best life.

Since aligning with New Story as one of the brand’s charitable partners, I am overwhelmed by the generosity of the Sotheby’s International Realty network in support of this mission.

BBN: Sotheby’s, as a brand, has a unique amount of history and name recognition. How do you see this spilling over to Sotheby’s International Realty?

PW: We have a rich and collaborative relationship with Sotheby’s auction house, as we share the same name. I know they are impressed and proud of the growth of the real estate company.

We share a similar vision with them, which is to provide unmatched service and expertise to our global clients and to look at opportunities to expand that client base. We are working together in the areas of artificial intelligence and augmented reality, as an example.

BBN: A curated customer experience is paramount to the Sotheby’s International Realty experience. How do you maintain a personal touch in an era where technological interactions are replacing actual in-person facetime?

PW: We don’t see technology replacing the personal role of the real estate agent. We believe our role is to develop and enhance existing technological tools and systems to support the agent and help them provide an even better customer experience.

The luxury end of the real estate business is very high touch and we don’t see that changing.

BBN: There is a lot of talk among real estate experts about a “softening” in the national luxury market. Do you agree with this characterization? How would you describe the current state of the luxury market?

PW: We are coming off of a very strong year, as we have discussed with our sales volume up over 14.5 percent versus the national market at about six percent. We are expecting another strong year and continue to see prices rising as a function of lower inventory levels.

As always, local markets in the US and globally will perform at different levels depending on many variables.

BBN: What new ground do you see Sotheby’s International Realty breaking in the near-future?

PW: We just launched an augmented reality app, working closely with Google, to have this be among the first apps available built on its ARCore platform. We are the first real estate brand to enter this space.

We will continue to look for ways to provide tools to empower our affiliates and their agents. We’ll continue to expand our network of offices and agents on a global scale, and connect them with tools such as our global referral system, which provides translation into 18 different languages. We don’t believe any other company provides that level of connection between its agents and brokers.

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Acquiring Bahamian Permanent Residency By Investment

Bahamian Permanent Residency By Investment. Bahamas real estate investment laws offer international home buyers the opportunity to acquire permanent residency in The Bahamas when purchasing a home valued at a minimum of $750,000.

 

In The Bahamas, overseas persons investing in a residence valued at $750,000 and over, may apply to the Department of Immigration for Permanent Residency status. Holding a Permanent Residency certificate can lead to significant tax advantages in your home country. Accelerated Consideration for a Permanent Residence certificate is offered to purchasers of residence (homes or condos.) of $1,500,000 or more.

Additionally, an Annual Homeowners Residence Card is available to any homeowner in The Bahamas. Obtained from the Director of Immigration, it allows the permit holder, and family, to enter and remain in The Bahamas for the period of the permit.

The main benefit of acquiring Bahamian permanent residency through investment is to make the transition of moving to The Bahamas quick and simple, with no disruptions to your professional or personal life. Other benefits of holding a Bahamas Investor Residence Visa include:

  • Right to reside in the Bahamas without further renewal of permits.
  • Right to enjoy all privileges enjoyed by citizens of Bahamas except for the right to vote.
  • Right to purchase property in Bahamas
  • Liberal tax regime.
  • Easy travel to Commonwealth nations, members of the Caribbean Community and the members of the Organization of American States
  • Eligible to apply for Citizenship of Bahamas after fulfilling residence requirements.

Get more on the benefits of investing in The Bahamas.

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide.  Each office is independently owned and operated.

About Damianos Sotheby’s International Realty

Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, ExumaNassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

Damianos Sotheby's International Realty

A Guide to Living in The Bahamas

A Guide to Living in The Bahamas. Known officially as the Commonwealth of The Bahamas, The Bahamas is an archipelagic state consisting of more than 700 islands, cays, and islets in the Atlantic Ocean. Below is a brief overview of our beautiful country.

DEMOGRAPHICS

The Bahamas is a chain of 700 islands and cays, approximately 30 of which are inhabited. The population is estimated to be slightly more than 300,000 people, most of whom reside on New Providence, Grand Bahama, Abaco and Eleuthera Islands Islands. The Bahamian archipelago begins about 50 miles off the coast of Florida and stretches for 550 miles to the Southeast. The Bahamas is an independent, English-speaking country with an adult literacy rate among the best in the world (95%).

INFRASTRUCTURE

The Bahamas has comprehensive and modern infrastructure, with electricity and water in abundant supply. Telecommunications services and facilities in the Bahamas are state-of-the-art, with direct international links provided through a 100% digital switching system.

THE BAHAMAS MAIN ISLANDS

New Providence (pop. 241,200); Grand Bahama (pop. 61,300); Abaco (pop. 17,224); Eleuthera (pop. 11,165); Exuma (pop. 7,314); Andros (pop. 8,000).

CURRENCY OF THE BAHAMAS

The official currency of the Bahamas is the Bahamian dollar. The Bahamian dollar is equal in value to the U.S. dollar, and the two are used inter-changeably throughout the islands.

THE BAHAMAS GOVERNMENT

The Bahamas has an extremely stable and pro-business Government, with the longest running uninterrupted democracy in the Western Hemisphere (over 280 years). On July 10, 1973, The Bahamas gained its independence from Great Britain and remains a fully democratic nation, governed by its own Parliament and Constitution. The Constitution of the Bahamas proclaims the islands as a sovereign democratic state, sets forth requirements for citizenship and guarantees fundamental human rights. The Bahamas retains its ties with the Commonwealth of Nations (formerly the British Commonwealth) and also retains the British monarch as its figurative head of state.

For more information about The Bahamas, visit The Commonwealth

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 22,000 affiliated independent sales associates located in over 950 offices in 69 countries and territories worldwide. Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, ExumaNassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

Damianos Sotheby's International Realty

Damianos Sotheby’s International Realty is Top-Tier Sponsor of Ride for Hope for Sixth Straight Year

Keeping Hope Alive. Lana Rademaker, co-owner and Vice President of Damianos Sotheby’s International Realty, participated in the 2017 Ride for Hope in Eleuthera marking the 10th anniversary of the fundraiser which garnered more than $550,000 to support treatment for cancer patients throughout The Bahamas.

 

NASSAU, The Bahamas (March 5, 2018) — On Saturday, March 10, 2018, cyclists from around the country will descend upon Governor’s Harbour, Eleuthera, to participate in Ride for Hope with one goal in mind: eradicate cancer in The Bahamas.

Now in its 11th year, the annual fundraiser offers outdoor enthusiasts the opportunity to bike 100 miles around the stunningly beautiful island of Eleuthera, all while raising money to assist Bahamians in the fight against cancer. To date, the event has raised an estimated $3,000,000 through the generosity of individual and corporate sponsorships. This year marks the sixth consecutive year that Damianos Sotheby’s International Realty has been a sponsor of Ride for Hope and the third year in a row that the company has contributed $10,000 as a Yellow Jersey Corporate Sponsor.

“Helping fight cancer is important to me because my mother and sister both died of cancer at a young age,” said George Damianos, President of Damianos Sotheby’s International Realty. “I respect the energy and time all of the volunteers pour into the event, and appreciate every effort put forth by the Holowesko family to make this such a successful fundraiser. Without exception, every dollar raised by participants is applied to the program.”

Riding for the Damianos Sotheby’s International Realty ­­­team this year will be Vice President Lana Rademaker, along with her husband and two daughters, Harbour Island agent James Malcolm, Nassau agent Ashley Brown and fellow riders Misty Claridge, Keith Cox and Kathy Johnston.

A primary goal of this year’s ride will be to increase the Medical Assistance Fund which assists the Cancer Society in paying off the mortgage that financed the building of the acclaimed Cancer Care Centre on Collins Avenue in Nassau and is also paying for the completion of the organization’s Eleuthera headquarters. The same fund also helps maintain the Treatment Assistance Fund, which supports cancer patients with their treatment costs through financial grants.

“The sheer cost of living with cancer is debilitating, if not completely devastating, to nearly every Bahamian family that cancer touches,” Damianos said. “Every single cent that is raised through Ride for Hope will directly benefit someone you know, whether it’s a family member, friend or colleague.”

 

 

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 21,000 affiliated independent sales associates located in over 900 offices in 68 countries and territories worldwide.  Each office is independently owned and operated.

 

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.

Damianos Sotheby's International Realty

Damianos Sotheby’s International Realty Exclusively Lists Blue Island, a 700-Acre Private Island in the Southern Exuma Cays

A Private Island Oasis. Located 147 miles southwest of Nassau in The Exumas, Blue Island is the largest private island currently on the market in The Bahamas offering 700 acres of pristine developable land and panoramic ocean views.

THE EXUMAS, The Bahamas (Feb. 23, 2018) — Imagine boarding a private jet in New York at 2 p.m. on a Friday, mid-February, flurries of snow piling up on the tarmac as you ascend into the sky. You’re tired, you’re stressed, and you’re ready to disconnect. Now imagine it’s three hours later and you’re stepping off that same plane onto a remote private island. Balmy, 80-degree breezes brush across your skin as you disembark, and the only detectable sounds are those made by swaying palm trees and ocean waves as they lap up on the nearby shore.

This is what awaits visitors to Blue Island: peace, solitude, sanctuary.

Situated in the southern Exuma Cays, the 700-acre island is located 147 miles southwest of Nassau, or about a 30-minute flight, and offers not only the utmost in seclusion but also an array of desirable features such as a brand-new 5,700-foot jetway; six white sand beaches; 15 miles of lush nature trails lined with mango, banana and coconut palm trees; hilly terraces; and, a 5,000-square-foot main house offering panoramic views of the Atlantic.

“It’s the largest private island currently available in The Bahamas,” said Steve Donovan of Damianos Sotheby’s International Real Estate who is exclusively marketing Blue Island. “There are numerous places where you could build a house or beach bungalow, and each would have its own beach. And with hills reaching up to 90 feet from sea level, Blue Island offers the kind of security and shelter that discerning investors seek out.”

And with the mainland of Great Exuma a short boat ride away, Blue Island offers the best of both worlds­—the ability to relax in your own private world combined with convenient access to supplies, staff, restaurants and shopping.

Between its location in the Exumas, easily one of the most beautiful places in the world, and its development potential, Blue Island is ideally positioned to become the next ultra-exclusive resort along the lines of Mustique or Necker Island,” Donovan said.  “And with 700 acres to work with, you could even include an 18-hole golf course. The possibilities really are endless.”

For more information about Blue Island click here, or email Steve Donovan at steve.donovan@sothebysrealty.com

 

About Sotheby’s International Realty

The Sotheby’s International Realty network currently has approximately 21,000 affiliated independent sales associates located in over 900 offices in 68 countries and territories worldwide.  Each office is independently owned and operated.

 

About Damianos Sotheby’s International Realty

 Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay, Albany and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242- 322.2305 or info.Bahamas@SIR.com.

Damianos Sotheby's International Realty, Sotheby's International Realty

The Rafa Nadal Golf Challenge by Sotheby’s International Realty®

The Rafa Nadal Golf Challenge by Sotheby’s International Realty®
The Sotheby’s International Realty brand recently hosted the Rafa Nadal Golf Challenge in association with Rafa Nadal Sports Center in Manacor, Mallorca, Spain.

The exclusive, first of its kind event, featured teams comprising Sotheby’s International Realty affiliates from around the world, including a team lead by Philip White and another lead by Rafa Nadal. Additional competitors included brokers from the United States, Czech Republic, Moscow, Mallorca and Latvia, who leveraged this global event to network and establish new relationships with Sotheby’s International Realty brand colleagues.
The three-day event took place at Mallorca’s top golf courses, beginning at Pula Golf, continuing onto Golf Son Servera and ending at Golf Son Gual.  Congratulations to team Rafa Nadal, the winner of the tournament. Philip White and team took second place and third place went to team Czech Republic Sotheby’s International Realty and Marketplace Sotheby’s International Realty. All participants were especially thankful for Mallorca Sotheby’s International Realty support of the event and warm welcome to their office in the lively, beautiful city of Palma.

The Rafa Nada Sports Center, located in Manacor, hometown of Rafa Nadal, is a facility that is part of the Rafa Nadal Academy by Movistar. Founded by Rafa Nadal and his family, the Rafa Nadal Academy by Movistar aims to develop young talent in sports and in life through high-quality training and by providing them with the tools they need to develop professionally.
“The event was a remarkable success, bringing together Sotheby’s International Realty affiliates from around the world for golf and networking.”
–Philip White
“The partnership with the Rafa Nadal Sports Center was a fantastic opportunity for the Sotheby’s International Realty brand. The Academy, along with the Center, was created to foster an environment where athletes train to perform at the highest level of their sport; there was a natural synergy and shared passion with our affiliated companies, who strive daily to provide their clients with best-in-class service.”
–Kevin Thompson
View more photos of the Rafa Nadal Golf Challenge presented by Sotheby’s International Realty on Access.

Damianos Sotheby's International Realty

Damianos Sotheby’s International Realty Sponsors Eleuthera All That Jazz Fest for Sixth Year in a Row

All That Jazz. This year’s Eleuthera All the Jazz lineup includes saxophonist Tommaso Starace from Italy, pianist Johnny Schütten from Austria and bass player Adrian D’Aguilar from Nassau. Now in its sixth incarnation, the festival kicks off in Governors Harbour, Eleuthera, on April 11.

 

ELEUTHERA, The Bahamas (Feb. 19, 2018) — Prestigious musicians from around the world will join Bahamian artists in venues all over Eleuthera when Eleuthera  All That Jazz returns April 11-15.

Listed in USA Today as one of the top 10 Caribbean musical festivals to see in 2016, Eleuthera All That Jazz has been steadily growing since 2012.The annual music festival, now in its sixth year, is a crucial fundraiser for Haynes Library in Central Eleuthera which provides invaluable support and resources to the community through a multitude of free services and outreach programs.

“The Haynes Library is not only a place where you can check out books, but, more importantly, it’s a place where residents of Eleuthera can go to develop new skills,” said Lana Rademaker, Vice President with Damianos Sotheby’s International Realty, one of the festival’s top sponsors. “With the resources so often limited in the Family Islands of The Bahamas, libraries can be the only places where people can go to further their education.”

The jazz festival adds to this educational objective by running a “meet the instruments” session at the library for local children.

“I am a firm believer that education is critical in forging a pathway toward success,” added Joan Braithwaite, a sales associate in the Eleuthera office of Damianos Sotheby’s International Realty.  “I think it’s wonderful that the community of Eleuthera prioritizes education in this way and remains dedicated to finding new and resourceful ways to support and encourage literacy and learning.”

For more information about Eleuthera All That Jazz, please visit https://eleutheraallthatjazz.com

 

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 21,000 affiliated independent sales associates located in over 900 offices in 68 countries and territories worldwide.  Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
 Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay, Albany and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242- 322.2305 or info.Bahamas@SIR.com.
Damianos Sotheby's International Realty

Damianos Sotheby’s International Realty’s Exclusive Listing Deep Water Cay is Famous for Bonefish and the Celebrities They Attract

Bonefish Paradise. Located about 150 miles northeast of Miami, Deep Water Cay was founded as a private fishing club in 1958 by Palm Beach guide Gil Drake Sr. and Field & Stream editor A.J. McClane. Since then, the resort has become an exclusive escape for public figures and celebrities like newscaster Tom Brokaw, famed actors Liam Neeson and Michael Keaton and Grammy Award-winning singer Huey Lewis.


NASSAU, The Bahamas (Feb. 7, 2018)
— When you hear the names Tom Brokaw, Liam Neeson, Michael Keaton and Huey Lewis, a few things probably come to mind: all have been household names at one time or another; each has received awards for being the best in their respective fields; and, they’re all pretty much recognizable wherever they go. What you probably didn’t realize is that they are all also fisherman—bonefish fisherman to be precise—and have spent time angling in the flats off Deep Water Cay.

Deep Water Cay, a two-square-mile private-island resort located on the eastern end of Grand Bahama Island in The Bahamas, has become almost as famous for its celebrity guests as its bonefish—almost.

“Deep Water Cay is one of the oldest Bahamian bonefish lodges in existence,said George Damianos, President and Managing Broker for Damianos Sotheby’s International Realty which is currently marketing the private island. “The catches made over the years are a part of the resort’s legacy and they’re why Deep Water Cay has evolved into the ultimate Bahamas fishing resort.”

Rated No. 3 on the list of “Top 25 Hotels in the Bahamas” by Caribbean Journal, Deep Water Cay is easily accessible with a 4,200-foot runway with Customs and Immigration available on request for private planes, plus direct flights from the U.S. and Canada into Grand Bahama International Airport (FPO) on several major airlines, including American Airlines, Bahamasair, Delta, Silver Airways and Sunwing.  Founded as a private fishing club in 1958 by Palm Beach guide Gil Drake Sr. and Field & Stream editor A.J. McClane, the resort features 200 square miles of flats, and a fully-equipped marina that can accommodate boats and yachts up to 65 feet.

In addition to its world-class amenities, Deep Water Cay has a close partnership with the Bonefish & Tarpon Trust (BTT). Resort guides tag fish prior to release, and when the fish are caught again, habitat and health data is captured and provided to BTT scientists for study.

“The north shore of Grand Bahama is widely acknowledged as one of the three top locations in the world for big bonefish,” Damianos said. “Between the BTT conservation partnership and Deep Water Cay’s reputation as a best-in-class fishing and luxury resort destination, Deep Water Cay will continue to attract people from all over the world for generations to come.”

For more information about this exclusive listing, please contact George Damianos at (242) 424-9699 or (242) 362-4211 or via email at george.damianos@sir.com


Damianos Sotheby’s International Realty has been an industry leader since 1945 specializing in the listing, marketing and sale of luxury and waterfront properties. With 11 offices throughout The Bahamas, Damianos Sotheby’s International Realty boasts the  most experienced and successful team of real estate professionals, consistently ranking among the top producers in The Bahamas real estate industry.

About Sotheby’s International Realty
The Sotheby’s International Realty network currently has approximately 21,000 affiliated independent sales associates located in over 900 offices in 68 countries and territories worldwide.  Each office is independently owned and operated.

About Damianos Sotheby’s International Realty
Damianos Sotheby’s International Realty has 11 offices located throughout the islands of the Bahamas, providing unsurpassed market knowledge of Abaco, Eleuthera, Exuma, Nassau, Paradise Island, Ocean Club Estates, Lyford Cay, Old Fort Bay and Private Islands. Head office 75 Shirley Street, Nassau. For additional information, please contact 242-322-2035 or info.Bahamas@SIR.com.