A major Queenstown realtor will specialise more in high-end property after hooking up with a global real estate network.
Locations Realty has become an associate office of leading luxury property adviser Savills, which operates in more than 45 countries.
Savills has been established in England since 1855 but its recent expansion into Asia-Pacific and Australia was a greater magnet for Locations.
Doug Osborne – who set up Savills’ first New Zealand office in Auckland in January – says Asia-Pacific and Australia now account for half the company’s revenue and profit.
Locations partner Stacy Coburn says his firm has established a premium sub-brand with its Savills link.
“We have our mid- and low-end residential but because Savills is more applicable to high-net-worth clientele and prestige listings, we’ve launched the Locations ‘premium’ brand.
“We’re finding now, more and more, we need to specialise in certain areas.”
Coburn says Locations has had national affiliations through Auckland realtor Barfoot & Thompson but not an international alliance until now.
Two other Queenstown agencies have similar high-end global alliances.
Bayleys is tied up with Christie’s International Real Estate while the former Browns Real Estate is now New Zealand Sotheby’s International Realty.