Sotheby’s acquires Young

Sotheby’s International Realty, Inc., a residential real estate brokerage firm representing high-end properties around the world, announced it has acquired Young Realtors in Westlake Village.

It’s the third acquisition in the past two weeks by Sotheby’s, with two others occurring in the resort communities of Sun Valley, Idaho and Cape Cod, Mass.

The four Ventura County offices of Young Realtors will now operate as Sotheby’s International Realty.

Joan Young, previously an owner and president of her namesake company, has been named vice president and brokerage manager for Sotheby’s International Realty, Inc. in Ventura County and Agoura Hills. Young will continue to oversee her former company’s four offices in Westlake Village, Channel Islands, Hollywood Beach and Camarillo, and report to Frank Symons, Sotheby’s executive vice president and chief operating officer.

“By having this outstanding and widely recognized company join our team, we have effectively extended our coverage between West Los Angeles and Santa Barbara, giving consumers 17 offices well positioned to serve their needs in Southern California,” said Symons.

With the acquisition, Sotheby’s gains more than 100 sales associates who accounted for over $400 million in total closed sales volume during the last 12 months. The combined organization now has more than 1,400 real estate professionals operating in 36 offices across the United States and in London.

“Our company was formed nearly 20 years ago and over the years we’ve attracted top talent spurring our expansion into four offices across Ventura County,” Young said.

Sotheby’s International Realty was founded in 1976 as a real estate service for clients of the famous Sotheby’s auction house.

Sotheby’s is a subsidiary of NRT Incorporated, the largest residential real estate brokerage company in the United States, with offices in over 35 of the largest metropolitan areas.