Coldwell Banker Bain | Seal Ranks as Top Northwest Luxury Brokerage and a Top Affiliate in Coldwell Banker Network for 2016

Mar 16, 2017

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Coldwell Banker Bain




Coldwell Banker Bain | Seal leads the Northwest luxury real estate market in sales of high-end homes, according to final 2016 numbers compiled by CB Bain | Seal from the Northwest Multiple Listing Service data (NWMLS). Additionally, the company has once again earned the Coldwell Banker Chairman’s Circle designation for outstanding performance in volume, ranking as a top network affiliate out of 3,000 offices in 49 countries. The company achieved a total sales volume of $6.05 billion in 2016.

The NWMLS statistics show that in 2016 CB Bain | Seal continues as the leader in the million dollar plus market, particularly in the higher price ranges (above $4M) where the company had more listings sold than any other real estate company. Specifically, CB Bain:

  • listed 25% of all properties over $7,000,000;
  • sold 18% of all properties over $6,000,000;
  • again had the highest priced home sale in Western Washington, at $9,751,880 (Mercer Island) , as well as sales for $8,000,000 (Kirkland), and $5,500,00 (Eastside/South);
  • through its Coldwell Banker Bain of Bellevue office, listed and sold more $1M + homes than any other office in NWMLS.

“We couldn’t be more thrilled with how our brokers performed according to the NWMLS last year, especially considering the 873 CB Bain | Seal brokers represent only about 3.4% of the total number of brokers in the NWMLS,” said Mike Grady, company COO and president. “It truly is a testament to their knowledge, expertise and reputation for excellence in servicing this segment,” he added.

In addition to the Coldwell Banker network naming Coldwell Banker Bain | Seal to its Chairman’s Circle again in 2016, it has also recognized its performance overall as follows:

  • the #1 affiliate in the state of Washington for Closed Adjusted Gross Income;
  • the #1 affiliate in North America for Closed Adjusted Gross Income;
  • 13 CB Bain | Seal offices included in its International President’s Elite, International Diamond’s Society, International President’s Premier, or International President’s Circle Office awards

Finally, 20 CB Bain | Seal offices attained special recognition from the Coldwell Banker network as Premier Offices, a prestigious designation earned by sales volumes and commissions. Those so designated include offices in both Washington and Oregon:

Premier Gold (average per sales associate of $150,000 Closed Adjusted Gross Commission or average of 30 total units) Coldwell Banker Bain of Capitol Hill
Premier Silver (average per sales associate of $120,000 Closed Adjusted Gross Commission or average of 24 total units) Coldwell Banker Bain of Bainbridge Island
Coldwell Banker Bain of Bellevue         
Coldwell Banker Bain of Lake Union
Premier Bronze (average per sales associate of $75,000 Closed Adjusted Gross Commission or average of 18 total units) Coldwell Banker Bain of Anacortes
Coldwell Banker Bain of Bellingham
Coldwell Banker Bain of Everett
Coldwell Banker Bain of Gig Harbor
Coldwell Banker Bain of Issaquah
Coldwell Banker Bain of Kent Station
Coldwell Banker Bain of Kirkland
Coldwell Banker Seal of Lake Oswego
Coldwell Banker Bain of Longview
Coldwell Banker Bain of Lynnwood
Coldwell Banker Bain of Mercer Island
Coldwell Banker Seal of Oregon City
Coldwell Banker Seal of Portland West
Coldwell Banker Seal of Portland Uptown
Coldwell Banker Bain of Redmond
Coldwell Banker Seal of Vancouver East

Grady points to some of the more interesting trends the company saw in the Puget Sound luxury market in 2016, including:Coldwell Banker Bain | Seal brokers handling luxury properties are specially certified to do so as part of an exclusive group in the Coldwell Banker Previews International® luxury home sales program. All sales associates carrying the Previews Specialist credential must meet stringent qualification criteria, including a proven track record of luxury home sales.

  • In the $1M plus category, inventory has remained the main issue pushing markets and prices. Buyers, whether local residents, relocating workers or overseas investors, have been competing for minimal number of units, bidding up prices in most close-in areas;
  • While luxury buyers have the means to purchase homes priced $1M+, they don’t always have the time to wait for inventory to open up – they may be relocating for work, trying to get into a specific school cluster, or visiting on an investing trip from overseas;
  • About one-third of the $1M+ sales received multiple offers;
  • On the Eastside, the vast majority of buyers of top-priced listings have been executives of local companies and not foreign investors; and the Seattle area continues to see significant activity by this segment;

A year ago the Eastside condo market was a bit sluggish compared to the “hot” Seattle metro market. However, the $1 million+ condo market has heated up with 81% more sales in ’16 vs. ’15. Additionally, the months of inventory (closed sales compared to available listings) has diminished to only 1.4 months of inventory based on the most recent report (month end February ’17).