Next time you read Bloomberg News, check out its Pursuits section. This section is a mixture of news and lifestyle content and…for the first time, listings of luxury residential properties.
Bloomberg’s new luxury residential property listings section exclusively features listings from Sotheby’s International Realty, a subsidiary of Realogy. Sotheby’s International has 990 offices globally. This brand focuses on luxury properties and describes itself as the “connoisseurs of life with aspirations through a deeply connected global network of exceptional people.” There you have it.
According to Kevin Thompson, chief marketing officer with Sotheby’s International, said that the opportunity to connect with Bloomberg News for this kind of advertising is a “…chance to reach the most highly qualified and influential homebuyers in the world.”
Bloomberg will feature each Sotheby’s listing exclusively for 30 days. After that exclusive agreement ends, Bloomberg will continue listing the property for another 60 days while Sotheby’s has the freedom to list the property wherever else it chooses. Sotheby’s is paying Bloomberg for the partnership as part of its syndication and marketing efforts. This advertising arrangement also involves “custom ad showcases and native advertising across Bloomberg.com.”
Thompson added, “We want to be pushing the envelope with our partners all the time and this is just a great example of how we do that.”
In 2018, Sotheby’s International posted a record sales volume of $112B. We’ll see whether or not this advertising partnership with Bloomberg News positively impacts Sotheby’s bottom line in 2019.