Through a new master license agreement with a St. Thomas-based broker, Christie’s International Real Estate has established a network for the company’s Caribbean area affiliates, the brokerage has informed Inman.
Christie’s International Real Estate Caribbean Affiliates will serve as a “network within a network,” according to a company statement, establishing a central source for listings, market data, marketing and cooperation among the separate Christie’s International Real Estate affiliates located in the Caribbean, bringing them all under one umbrella.
Nick Vanassche, owner of Christie’s International Real Estate | The Saints in St. Thomas, will serve as managing partner of Christie’s International Real Estate Caribbean Affiliates. Vanassche intends to establish new affiliates to be brought under the Caribbean network in the future, including in the Dominican Republic, St. Martin (Dutch and French), Puerto Rico and other Caribbean nations and territories.
“Caribbean real estate brokerage has always been very fragmented, with little collaboration or consistency between firms, even those operating under the same brand,” Vanassche said in a statement. “That has made it particularly challenging for consumers. By creating a framework to bring more firms together under one umbrella, we will foster better communication, better information and better service for our clients.”
Outside of Caribbean Affiliates, Christie’s International Real Estate already had existing affiliates located in the Bahamas, St. Barts, the Cayman Islands, Turks and Caicos and the British Virgin Islands, which will ultimately form a partnership with the new Caribbean Affiliates network and operate within its umbrella.
Establishing the new network, Vanassche said, will also help Caribbean affiliates strengthen ties with other Christie’s International Real Estate offices and affiliates across the globe, enabling the brand to achieve an anticipated $1.5 billion in annual sales in the Caribbean.
“The goal is to create a stronger, richer ecosystem for Caribbean property transactions,” Thad Wong, Christie’s International Real Estate co-CEO, said in a statement. “The team recognizes the opportunity for Christie’s International Real Estate to be the unrivaled leader in this region — not just in terms of sales volume but also service — and we are excited to provide the full support of the brand and network to make that vision a reality.”
“This is exactly what the region needs, a partner whose sole focus is the Caribbean, with an island to suit every buyer, every referral and every investor, all under the elite Christie’s International Real Estate brand,” added Sarah Humphrey, vice president of operations for Christie’s International Real Estate Caribbean Affiliates. “We look forward to working together to serve our clients with the utmost knowledge of island living and the inner workings of the Caribbean network.”
With the agreement, the brokerage marks its second region in which it’s established a master license with another company so far this year. The company also initiated a master license agreement in July with H2 Group in Japan. In its continued expansion, Christie’s International Real Estate has also established affiliation agreements with brokerages in a number of markets recently, including Los Angeles, Miami, San Francisco Bay Area, Atlanta, Italy, Malta and Estonia.