@properties Christie’s International Real Estate, Michigan’s Fastest Growing Residential Brokerage, Expands to Ann Arbor

@properties Christie’s International Real Estate, the fastest growing brokerage firm in the state of Michigan, is expanding to Ann Arbor, the company announced. The Birmingham, Michigan-based firm, an independently owned and operated affiliate of Christie’s International Real Estate, has grown from $100 million to $1 billion in annual sales in the past three years, focusing on the Detroit Metro area. Now, the company plans to duplicate that success on a slightly smaller scale in the town that’s home to the University of Michigan as well as a booming luxury housing market.

Citing local MLS data, @properties Christie’s International Real Estate co-owner Eric Walstrom noted that Ann Arbor’s average home price has increased 47% since 2018. Meanwhile, sales of homes priced at $1 million and up have tripled, registering 141 transactions for the 12 months ended June 30, 2023, compared to an average of 47 sales annually over the previous three years.

“When we look at Ann Arbor, we see a market that has grown beyond the level of service being provided. There’s a lot of opportunity to introduce more sophistication in terms of marketing, technology, and service for both the client and the agent, to elevate the experience of buying and selling a home,” said Walstrom.

It’s an approach that Walstrom and his partner, Alex Irrer, have successfully employed since affiliating with @properties, the largest brokerage firm in Chicago and 8^th largest in the United States, in early 2021. Rebranding their firm, formerly known as Alexander Real Estate, they plugged into @properties’ pl@tform^™ technology system and dynamic marketing programs. Less than a year later, @properties acquired Christie’s International Real Estate, giving Walstrom and Irrer the chance to join a luxury network of more than 100 leading brokerage firms around the world.

That opened new doors in Detroit’s luxury market, and @properties Christie’s International Real Estate expanded to several upscale towns, opening a flagship office in Birmingham and satellites in Grosse Pointe, Northville and Rochester. The firm also has offices in Detroit and Harbor Springs on Little Traverse Bay. Last year, while total residential sales volume in the Detroit Metro declined by 30%, @properties Christie’s International Real Estate’s sales volume grew by 90%.

In Ann Arbor, the company will set up shop at 912 N. Main Street in Lowertown. They have leased 4,500 square feet with the ability to expand as the operation grows. Two top-producing Ann Arbor agents, Sheila Hoeft and Giselle Gaitan, have joined the firm, coming over from Reinhart Realtors. More agents will be announced in the coming days. 

“Obviously, there are some great brokerage firms in Ann Arbor, and we intend to be on the short list,” said Irrer. “We’ve always done a good job of building relationships with the community. We’re going to do that here, too. Ann Arbor is a town with a lot of heart and a lot of history. That’s going to be our guidepost as we build this office into a market leader,” he added.

@properties Christie’s International Real Estate’s Ann Arbor agents will enjoy exclusive access to pl@tform^™, an industry-leading tech solution that enables digital management of all aspects of the real estate transaction and client relationship. The software includes fully integrated CRM, transaction-management, market-analysis, and marketing modules. Agents and clients will also be able to take advantage of exclusive advertising and marketing partnerships; referral opportunities with Christie’s International Real Estate affiliates throughout the U.S. and in nearly 50 countries and territories; and special programs that leverage the firm’s connection to Christie’s venerable auction house.

Natalie Hamrick, president of affiliate services and growth at Christie’s International Real Estate, said the Ann Arbor market should be especially receptive to these benefits.

“With market-leading affiliates in other prominent university towns, as well major U.S. cities, global financial centers and luxury vacation destinations, Christie’s International Real Estate is a great fit for Ann Arbor. We can service local clients’ real estate needs all over the world, and the ability to partner with Christie’s on the sale of art and luxury collections will be appreciated here, as well,” said Hamrick.

Christie’s International Real Estate has built a presence in a number of college towns as luxury buyers seek out these locations. The brand has affiliates in Madison, Wisc., Athens, Ga., Austin, Tx., Boston, Palo Alto, Burlington, Vt., Lexington, Ky., and other locations.

“People are attracted to the lifestyle, even if they don’t have a connection to the university. College towns offer culture, arts, big-time sports, great health care and a lower cost of living than many big cities. It’s a growing trend in the luxury market, and we’re excited to be out in front of it,” said Hamrick.

Over the past two years, Christie’s International Real Estate also has established new affiliates or offices in the Hamptons, Beverly Hills, Miami, Naples, Fla., London, Munich, Sydney, the Swiss, French and Italian Alps, and several Caribbean islands including Aruba, the Dominican Republic and Puerto Rico. 

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About Christie’s International Real Estate

Christie’s International Real Estate has successfully marketed high-value real estate around the world for more than 30 years. Through its invitation-only Affiliate network spanning nearly 50 countries and territories, Christie’s International Real Estate offers incomparable services to a global clientele at the luxury end of the residential property market. For more information, please visit christiesrealestate.com.