Boston's Largest Independent Real Estate Company Sold to Local Entrepreneurs, Becomes Part of Sotheby's International Realty Network.Gibson domain|domain to become Gibson Sotheby's International Realty Sotheby’s International Realty, founded in 1976, is a luxury real estate network that offers a collection of luxury homes, estates and properties for sale throughout the world. marking Sotheby's largest presence in Greater Boston Greater Boston is the area of the Commonwealth of Massachusetts surrounding the city of Boston, Massachusetts. While Metro Boston tends to be the "Inner Core" surrounding the City of Boston, Greater Boston overlaps the North and South Shores, as well as the MetroWest region. market BOSTON -- Gibson domain|domain, Boston's largest independent real estate company, announced today that local real estate entrepreneurs Michael Hansen Han·sen , Gerhard Henrik Armauer 1746-1845. Norwegian physician and bacteriologist who discovered (1869) the leprosy bacillus. and Larry Rideout have acquired the company. The transaction unites two of real estate's most prestigious brands as Gibson domain|domain will become part of the Sotheby's International Realty network to form Gibson Sotheby's International Realty, marking the largest presence for the world-renowned Sotheby's International Realty brand in the Greater Boston market. "For more than four decades, Gibson domain|domain has built a reputation of success by adhering ADHERING. Cleaving to, or joining; as, adhering to the enemies of the United States. 2. The constitution of the United States, art. 3, s 3, defines treason against the United States, to consist only in levying war against them or in adhering to their enemies, to the belief that all real estate is local," said Hansen. "As the company moves into the future, that local knowledge will be combined with the international name and power of the Sotheby's International Realty brand bringing together two companies with similar visions and philosophies in luxury real estate." Hansen and Rideout purchased the 44-year old company from Selby Turner and Nick Russo, who, over the past 15 years, grew Gibson domain|domain from one office to seven while creating the largest independently owned and operated residential real estate firm in Boston. In addition to their ownership roles, Hansen will become the company's president while Rideout will assume the position of general manager. Bringing together the Gibson and Sotheby's brands allows the local neighborhood roots of Gibson domain|domain to combine with the well-known brand and resources of Sotheby's International Realty. For Sotheby's, the move will nearly double its footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. in Massachusetts Massachusetts (măsəch  `sĭts), most populous of the New England states of the NE United States. and give the company its first presence in Boston proper. "Though the company's name will change, our philosophy will not," said Rideout. "This company has spent more than 40 years building its reputation as a locally-based, high-end realtor Realtor In the United States a designation used to describe a member of the National Association of Realtors (NAR). Notes: The term "realtor" is a registered trademark and encompasses agents, brokers and associates who are members of a real-estate firm associated with . Now, we are supporting that with a powerful international firm that offers outstanding support systems and ties to other major metropolitan areas." "Our global organization is comprised of many of the world's leading real estate firms and it is an honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. to welcome this outstanding Boston firm to our family," said Michael R. Good, president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sotheby's International Realty. "We help our affiliates market their properties nationally and internationally, and we look forward to the tremendous value this will bring to clients of Gibson Sotheby's International Realty." "Today's affiliation continues our expansion into the Boston area and, in the past two years, we have now added more than 50 Sotheby's International Realty network offices in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. ," added Good. The marriage of the two brands will provide Gibson's agents with a host of operational, marketing, recruiting, educational and business development resources. The company will use Sotheby's support structure in concert with Gibson's current administrative and creative assets to offer its agents and employees additional growth opportunities. Gibson's clients will have access to the Sotheby's network of offices around the world, bolstering Gibson's prior relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. offered via affiliations with Leading Real Estate Companies of the World and, more recently with Fortune International Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. . Gibson domain|domain currently employs approximately 100 agents and close to 20 employees in its six Boston-based offices and is one of the region's most successful firms at marketing pre-construction developments from East Boston to Watertown, and in individual condo sales around metro Boston, Dorchester and South Boston. As part of the deal, Century 21 Absolute Advantage of Westwood, which is also owned by Hansen will become part of the company and assume the Gibson Sotheby's International Realty name. In 2005, Gibson domain|domain was responsible for more than $450 million in real estate transactions making it the leader among Boston real estate firms. Its South End office ranked number one out of 218 Boston-based real estate offices in total sales transactions and dollars (Source: LINK for 2005). Since the founding of the Sotheby's auction house in 1744, the Sotheby's name has earned renown as a marketer for many of the world's most valuable and prestigious possessions. The Sotheby's International Realty organization began in 1976, in part to serve clients desiring a complete package of estate disposition services, and soon became known for representing extraordinary luxury estates throughout the world. Gibson domain|domain has built a large portfolio of high-profile properties. Current listings include 26-28 Rutland Square (listing at $3,999,000) and 117 Pembroke Street (listing at $999,000), both in Boston's South End, as well as pre-construction properties ArtBlock (South End) and Riverbank (Watertown). About Gibson Sotheby's International Realty Gibson Sotheby's International Realty is Boston's largest independent real estate company. Founded in 1962 by Betty Gibson Betty Gibson (1911 - 2001) was considered by the community to be instrumental in developing and implementing the Mathematics and Language Arts Curriculum in Manitoba. Celebrated as "an exemplary educator", the Betty Gibson School in Brandon, Manitoba was named in her honour. in Boston's South End, the company has grown to six offices and produced more than $450,000,000 in transactions in 2005. In December 2006, the company became part of the Sotheby's International Realty network bringing worldwide depth to the Gibson brand. About Sotheby's International Realty Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty([R]) network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation (then Cendant Corporation), the world's leading real estate brokerage franchisor, entered into a long-term strategic alliance with Sotheby's Holdings, Inc. (NYSE NYSE See: New York Stock Exchange : BID; LSE LSE - Language Sensitive Editor : STBA STBA S&T Bancorp, Inc. STBA Statistisches Bundesamt STBA Southern Tree Breeding Association (Australia) STBA Sekolah Tinggi Bahasa Asing STBA Splitska Banka STBA Scottish Tenpin Bowling Association STBA South Tyrol Biomass Association ). The agreement provided for the licensing of the Sotheby's International Realty([R]) name and the development of a full franchise system by Sotheby's International Realty Affiliates, Inc., a subsidiary of Realogy Corporation (NYSE: H), the world's largest real estate franchisor. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates, Inc. 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, 260-year-old Sotheby's auction house. For more information, visit www.sothebysrealty.com. NOTE TO EDITORS: There is a pipe symbol in the company name between domain and domain. This symbol may not appear properly in some systems. |
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