“As a global brand and with Canada being a desirable destination for new immigrants, permanent residents and international students, it’s important for Sotheby’s International Realty Canada to reach potential buyers and investors in Asia,” says Don Kottick, the company’s president and CEO. “Our global marketing network has unrivalled reach in Asia and around the world with often exclusive partners.”

South China Morning Post is a leading news company that has reported on China and Asia for more than a century, says Sotheby’s. With headquarters in Hong Kong, it is the city’s newspaper of record and is read online and in print by readers around the world. The new advertising partnership increases Sotheby’s reach and ensures greater visibility to Hong Kong citizens and other Asian consumers searching for homes internationally, the company says.

The brand’s marketing strategy in Asia also includes Juwai.com, Nikkei.com and PropGoLuxury.com.

Sotheby’s maintains an exclusive advertising and publishing partnership with Nikkei, which it says is the most influential news publication in Japan and one of the major media powerhouses in the world, reaching over 50 million monthly readers. PropGOLuxury is a luxury real estate portal for English and Chinese readers, powering the search platforms for major publications including The Financial Times and Z-Property/Zaobao.

Sotheby’s International Realty is the first real estate brand to present listings outside of Japan to Nikkei’s readers. Juwai.com is the No. 1 Chinese international property portal with more than 5.5 million users and seven million pageviews per month in China.

Kottick says, “Our new media partnership with South China Morning Post reflects our ongoing commitment to marketing our clients’ property listings to Canada and the world.”

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Worldwide, Sotheby’s International Realty had a record US$204 billion in global sales volume in 2021.

“The luxury brand’s gains in Canada and in the global market speaks volumes to our ability to swiftly develop and adapt first-rate marketing technology, as well as our strategic ability to expand into new markets,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada. “Our extraordinary milestone also demonstrates the exceptional services, professionalism and expertise of our elite team of more than 700 real estate agents and brokers, as well as our world-class management and staff.”

Sotheby’s International Realty Canada says it was also YouTube’s and Instagram’s No. 1 real estate residential brokerage channels in Canada. Sothebysrealty.com saw more than 46 million visitors in 2021, the most visits to the website in its history. Property videos continued to trend as more buyers start the initial viewing process online. Videos produced by Sotheby’s International Realty agents were played nearly 90 million times – a 50-per-cent increase year-over-year, the company says.

“This milestone in Canadian real estate is attributed to our national team of professional and specialized agents who strive to protect our clients’ interests and investments and fulfill their real estate needs with professional advising and expertise,” says Kottick. “This is also a result of the exceptional standards held across the company in luxury real estate services and experiences and being able to provide those luxury real estate services and experiences to homes at any price point.”

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“Nationwide, our team of Sotheby’s International Realty Canada agents, brokers, management and staff have always been committed to supporting the communities in which we live and work in, especially the vulnerable populations whose issues have been exacerbated these last few years,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada. “Our 2022 Day of Action was a fundamental event raising awareness for the cause, providing education on the relentless work that needs to be done, and of course, acknowledging the survivors across Canada.”

The inaugural event, which was held on National Human Trafficking Awareness Day, featured guest speakers Miles Nadal, Kelly Grier-Nadal, who is the founder of HART, and Jennifer Bernard, president and CEO, Women’s College Hospital Foundation. Attendees were able to learn how their funding support through HART is helping research partner WCH with informing government policy and researching and implementing accessible, safe and trauma-informed clinical programs.

Grier-Nadal says, “We are absolutely overwhelmed by the support and generosity of the Sotheby’s International Realty Canada Realtors, management and staff to a charity that literally saves lives of young women and girls across Canada. HART is so proud of the national research that we are doing with Women’s College Hospital and the national hospital network to bring about important policy and support for victims of human trafficking.”

The donation will go towards research and implementation programs led by HART and WCH and helps them attain the long-term objective of replicating survivor care initiatives across Canada so that more women can be reached.

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Each organization will receive a $25,000 donation for their efforts in supporting the mental and physical well-being of vulnerable Canadians. The HART donation marks the start of a new charitable partnership with the organization, Sotheby’s says. To date, the company has also raised more than $68,000 for Jack.org

Don Kottick, president and CEO of Sotheby’s International Realty Canada, says, “This holiday season, in a year where so many in our community have experienced such tremendous challenges, many within our organization expressed a strong desire to exemplify the holiday spirit by giving back to these two important organizations, in many cases, prioritizing charitable giving over the idea of more traditional company holiday celebrations. It is a privilege to reflect our team’s generous spirit through our donations to HART and Jack.org.”

Kottick says the company’s philanthropic efforts have always focused on raising funds and awareness for urgent and timely causes that touch the lives of Canadians, and the company continues to focus on pressing issues exacerbated by COVID-19. Recognizing the worsening conditions in mental health and human trafficking brought on by the ongoing pandemic, Sotheby’s is partnering up with HART, its second not-for-profit partner alongside Jack.org.

“At HART, we focus on the physical and mental health needs of survivors by providing care and counselling. Preventatively, we provide research funding for the development of targeted healthcare responses and effectively advocate for more stringent laws and policies so that our communities are safer for vulnerable Canadians,” says Kelly Grier-Nadal, who founded HART in 2017.

Jack.org says suicide is the leading health-related cause of death for young people in Canada and one in seven young people in Canada report having suicidal thoughts. HART reports that human trafficking has become second only to drug/gun trafficking in terms of size of illegal enterprise worldwide and in Canada, a majority of victims are from local communities and primarily aged 11-25.

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The report says that despite the “dream” of home ownership dwindling, 75 per cent of Gen Z respondents are still confident they will buy in their lifetime.

Don Kottick

Don Kottick, president and CEO of Sotheby’s International Realty Canada, says the genesis of the survey came from the lack of any previous surveys done on Gen Z and their housing preferences and aspirations.

“We didn’t know what we were going to find,” says Kottick. “Prior to this survey coming out and for the last few years there’s been a lot of talk, asking if millennials are interested in buying homes. Are Gen Z going to buy homes? There was talk that they might be more interested in renting and that home ownership is kind of a thing of the past,” says Kottick. “Well, this survey dispels all that.

“It says that not only do 75 per cent of them want to own their own home, but a large percentage of them also want single-family dwellings. So in a lot of areas that are addressing the affordability issue they’re going to multi-dwelling units, condominiums – in fact a lot of Gen Z are aspiring to get into a single-family home. We found that very surprising.”

He says the cost of living is taking a big chunk out of the Gen Z buying power. Living expenses are a major concern. Student loans are a concern. These all slow down the accumulation of assets but “over time they should be able to work through that,” Kottick says.

Here are some of the key findings of the survey:

• 75 per cent of urban Canadian Generation Z adults say they are likely to buy and own a primary residence in their lifetime; one in 10 (11 per cent) already own their home;
• 82 per cent are worried that they will not be able to buy in their community of choice due to rising real estate prices;
• 70 per cent would want to buy a single-family home in their peak earning years if budget were not a consideration;
• 50 per cent have already given up on the traditional dream of owning a single-family home; and
• The top financial barrier for Generation Z when saving money for a down payment is paying for current living expenses, cited by 28 per cent.

Generation Z has been defined by Statistics Canada as those born between 1993 and 2011.

“This study is the first of its kind in Canada to focus on this influential next generation of home buyers,” says Josh O’Neill, general manager of Mustel Group. “The findings reflect the sentiments and aspirations of young Canadians and reveal trends that will have a significant impact on the future of the country’s housing market.”

The report found that those living in Montreal and Calgary are more confident in their likelihood to buy a home in their lifetime, with 79 per cent and 78 per cent saying that they are “very likely” or “somewhat likely” to do so, compared to 73 per cent in Toronto and 71 per cent in Vancouver.

Those living in Calgary are the least likely to have already given up the dream of single-family home ownership and are also more likely to mention single-family homes as their most likely and realistic first home purchase.

“It really bodes well for areas like Calgary and Montreal where the average price range is a lot lower. I think you’re going to see a lot of people reconsidering their destination based on the average house price,” says Kottick. “What this also does is have a spinoff effect on the economies. We’re already seeing this in Calgary where a lot of tech companies and other new forms of business are coming to that market because they know that housing is cheaper and people are going to be drawn to that and they’re going to be able to get more talent.

“At a time when soaring living costs, policy-driven inflation and rising real estate prices are eroding the standard of living for many young Canadians, the relative affordability of housing in cities like Calgary and Montreal are a true competitive advantage in retaining and attracting young people striving to buy their first home,” says Kottick.

He says the COVID-19 pandemic may have also changed people’s buying patterns. There was a flight to larger space as well as looking for rural properties.

“I think a lot of Gen Z probably looked at their lifestyle and said, you know what, I like the bigger space, I like the homes. Most of them probably grew up in these homes. So it’s going back to what they’re comfortable with,” says Kottick.

“They’re new to the job market, they’re accumulating their assets. I think things will change over time in terms of shifting those 50 per cent that have given up on a single-family home and as they accumulate their assets I’m sure more of them will aspire towards that goal.

“We have to take into account the great generational wealth transfer that a lot of these Gen Z are going to benefit from. So their buying power over time will increase.”

Mario Toneguzzi

Mario Toneguzzi is a contributing writer for REM. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He now works on his own as a freelance writer for several national publications and consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list.

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Don Kottick, president and CEO of Sotheby’s International Realty Canada, says he saw a need for the platform in Canada to help educate the company’s 650 agents and 30 offices in eight markets.

“At a time when most brokerages have eliminated internal training for their experienced Realtors, we were thrilled when we had the capability to offer our Realtors complimentary advanced training to take their business to the next level and improve their productivity. The response has been absolutely overwhelming from our Realtors,” Kottick says.

Sandesh Bilgi was brought in to launch the brand’s educational endeavour. As a 20-year real estate veteran, Bilgi was appointed in a newly created role as the vice president of Global Learning for Sotheby’s International Realty. His primary responsibility is to provide learning pathways for agents and broker/managers that exemplify the brand value of Sotheby’s International Realty and to give them a competitive advantage when differentiating the brand from the rest to prospective clients.

Bilgi was born in Edmonton and grew up in Toronto. Recognized as an elite trainer in real estate, Bilgi has been inspiring and motivating real estate professionals for decades, the company says. “Known as a creative, dynamic and energetic speaker, Bilgi has redefined how individuals represent their clients. It is not about selling a service, but how one provides value and how to articulate themselves as a specialist,” the company says. Bilgi formerly practiced as a sport psychology consultant and a hockey coach. He currently resides in Chicago.

Bilgi assembled the team for the learning platform by bringing on 23-year real estate professional Brett Matsuura and 20-year real estate professional Rebecca Mason as national senior trainers. Collectively, the Sotheby’s International Realty Learning Team has over 60 years of real estate experience.

“Our market is ever-changing, and we have to evolve with it or we will find ourselves on the outside looking in,” Bilgi says. “I help agents stay in the market. I know if an agent is running a business versus running around their business. I help our network identify their strengths that they can in turn articulate and embrace to capture new audiences.”

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“We are thrilled to add Enjoy Muskoka Realty to our team and welcome a wonderful group of market-leading Realtors with exceptional local knowledge, known for their dedication to premium customer service,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada. “This expansion strengthens our presence and market share in Lake Muskoka, Lake Rosseau, Lake Joseph and the greater Muskoka region.”

Enjoy Muskoka Realty was launched in 2010 in Gravenhurst by owners David Reid and Brian Guerriero. In 2012, they took over the building at 410 Muskoka Rd. S., “an iconic spot in town for home window shopping,” says Sotheby’s in a news release. “Based on trust and good character, many local Realtors joined right away. Others followed suit and a second office opened in Bracebridge, establishing Enjoy Muskoka as an independent real estate brokerage that stood out for its unique family culture and stellar customer care,” the company says.

Reid has been serving the real estate community in Muskoka for 17 years. In addition to managing a group of 27 Realtors as co-founder of Enjoy Muskoka, Reid served as president of the Ontario Real Estate Association in 2018. He is also a former president of the Lakelands Association of Realtors and has served on various other committees. Reid is now assuming the position of regional manager, Central Northern Ontario, responsible for all four Sotheby’s International Realty Canada offices in Muskoka: Port Carling, Gravenhurst, Huntsville and Bracebridge.

Guerriero will join the brand as senior vice president of sales.

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“With a successful, award-winning career as a Toronto Realtor, paired with significant management, mentoring and coaching experience, Ken is perfectly positioned to lead our strategic expansion in one of Toronto’s most exclusive areas,” says Don Kottick, president and CEO at Sotheby’s International Realty Canada.

With a background in teaching and coaching, Mazurek spent the past six years at Royal LePage, Johnston & Daniel Division, working in central Toronto with his business partner, Lina Risi. Consistently a top-producing team, they have been recipients of numerous awards, while initiating and participating in educational and coaching initiatives in the firm, the company says.

Prior to his real estate career, Mazurek was the special teams co-ordinator, international recruiting co-ordinator and academic advisor with the University of Toronto Varsity Blues Football Team. In addition, he is an Ontario College of Teachers certified senior and intermediate teacher.

Originally from Lethbridge, Alta., he holds an Honours Bachelor of Arts in Political Science and Government from the University of Toronto – University of Trinity College and a Bachelor of Education from the University of Ottawa.

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Love has more than 16 years of experience in real estate technology, marketing, communications and training, helping major national and global real estate franchises, offices, agents and developers with technology solutions. Most recently he was a member of the leadership team at PropTech Solutions, where he worked with executives and regional franchise owners from brands such as eXp, Keller Williams, Re/Max, ERA and Coldwell Banker to plan and implement technology platforms used by over 50,000 real estate professionals across more than 60 countries. Prior to this, he held industry relations management positions at RealNet Canada/Altus Group and Top Producer Systems.

Martins joined Sotheby’s in 2007 and has since played a key marketing and technology leadership role at the company, the company says. In addition to overseeing creative and brand at a national level, “he has been pivotal in contributing to the product development strategy and roadmap for the company’s most significant website and marketing technology initiatives, including the ongoing evolution of its consumer website and the company’s recent launch of Gateway, a comprehensive and custom-built suite of sales, marketing, lead generation, client service and brokerage administration technology,” the company says.

“Sotheby’s International Realty Canada is one of the few brokerages who have invested in the development of proprietary technology for both its Realtors and consumers,” says Don Kottick, president and CEO. “While some real estate companies have adopted or tried to build technology for the sake of simply doing something ‘shiny and new’, our goal has always been to develop truly relevant and exclusive tools to enhance agents’ competitive edge and service to clients.”

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The penthouse crowns the tallest building between Metro Vancouver and Calgary.

Situated high above Lake Okanagan on the 36th storey of the One Water Street development’s East tower, the penthouse crowns the tallest building between Metro Vancouver and Calgary. With floor-to-ceiling windows, the luxurious full-floor suite features 360-degree views of downtown Kelowna, Lake Okanagan and surrounding mountain ranges. The expansive soon-to-be-complete residence boasts 4,500 square feet of customizable interior space designed by Toronto-based Gluckstein Design, including a stunning master wing and the opportunity for at least three bedrooms and three-and-a-half bathrooms. An additional 2,600 square feet of exterior living space features a fully equipped chef’s kitchen and panoramic lake views.

With floor-to-ceiling windows, the luxurious full-floor suite features 360-degree views of downtown Kelowna, Lake Okanagan and surrounding mountain ranges.

“Our goal with the One Water Street Reserve Collection is to provide an elevated living experience for discerning buyers seeking access to the natural beauty of B.C.’s renowned lake and wine regions, while experiencing the conveniences and amenities of luxurious condominium living,” says Henry Bereznicki, managing partner at North American Development Group. “The penthouse is truly the crown jewel of the collection. We believe it will attract demand from a top-tier buyer looking to expand their real estate portfolio with a bespoke, landmark property.”

The development is in the heart of the Arts and Cultural district of downtown Kelowna. The towers are 36 and 29 storeys for the east and west towers respectively. Residents can enjoy nearby award-winning restaurants, shops and entertainment within walking distance and exclusive access to The Bench, a 1.3-acre fourth-floor facility with resort-style amenities including two outdoor swimming pools, a hot tub, outdoor lounging with fire pit enclaves, health club with yoga/Pilates studio, entertainment/kitchen area and pickleball court.

“This is a notable and timely listing for the B.C. real estate market,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada. “There has been a surge in demand for luxury properties outside of major metropolitan areas since the start of the pandemic, launching cities like Kelowna on to the national and global map.”

“While many luxury real estate buyers are seeking primary and vacation homes that will offer more space and better access to the outdoors, many also desire the convenience, security and high-end amenities of condominium living,” he says.

The property, which comes to market two months following the release of B.C. Assessment’s list of top appraised properties, clocks in just shy of Kelowna’s most valuable property, a waterfront single-family home assessed at $10.7-million.

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