New Zealand Sotheby’s International Realty and Melbourne Sotheby’s International Realty have announced the formation of a joint venture partnership to further expand the Sotheby’s International Realty brand across Victoria, Australia.

This strategic move aims to significantly increase the brand's market presence in one of Australia’s fastest-growing states. 

"This joint venture represents an important step in the growth of the Sotheby’s International Realty brand in Australasia and APAC,” said Mark Harris, Co-Founder and Managing Director of New Zealand Sotheby’s International Realty. 

Harris, originally from Australia, established New Zealand Sotheby’s International Realty 20 years ago and has since grown the business to encompass 31 offices nationwide, solidifying its position as the leading agency in the New Zealand prestige residential real estate market. 

The Melbourne market, though currently undervalued in comparison to Sydney, presents exceptional growth potential. With population forecasts indicating the strongest growth rate of any Australian state, the gap in property values is expected to narrow over the next five years.

“There is a great opportunity to expand the world’s leading residential real estate brand into the Melbourne market, offering property owners the ability to showcase their homes on a global stage,” said Mr Harris. 

“By combining our strengths and resources, we are well-positioned to expand our reach and influence in the Victoria market, delivering exceptional service to our clients.”  

Rob Curtain, who took control of Melbourne Sotheby’s International Realty in 2019, has dedicated himself to building a high-performing team that has dominated the prestigious Mornington Peninsula market for over a decade under the Peninsula Sotheby’s International Realty banner. 

This joint venture will enable Curtain to retain control of his Peninsula offices while leveraging the group’s combined expertise to ignite the growth of Melbourne Sotheby’s International Realty across central Melbourne and regional Victoria. 

“It’s simply the perfect fit. I didn’t have to think about it for long, and we had total support from the brand’s leadership,” said Mr Curtain.

“New Zealand Sotheby’s International Realty has long been one of the brand’s great success stories, growing their business from scratch to dominate the luxury end of the New Zealand property market. 

“This partnership allows us to leverage a wealth of knowledge and resources for our clients, while also broadening our reach and attracting the best agents to represent the Sotheby’s International Realty Brand across the state.”

"Our vision has always been to bring the Sotheby’s International Realty brand to key markets where we see the opportunity for growth and excellence,” said Julian Brown, Co-Founder and Managing Director of New Zealand Sotheby’s International Realty. 

“This partnership with Melbourne Sotheby’s International Realty allows us to further that vision, combining our expertise to build a formidable presence in Victoria."

In line with the expansion strategy, Melbourne Sotheby’s International Realty is set to open a new central Melbourne office in the prestigious suburb of Toorak in the coming weeks. 

The office will operate under the leadership of award-winning agents Antoinette Nido and Max Ruttner, who bring a wealth of experience and a proven track record of excellence. 

This move will allow Melbourne Sotheby’s International Realty to re-enter the Melbourne CBD market and is the first step in a broad expansion plan. 

The joint venture marks a new era of collaboration and growth for the brand, and both New Zealand Sotheby’s International Realty and Melbourne Sotheby’s International Realty are excited about the opportunities that lie ahead.