MIAMI, Sept. 14, 2018 /PRNewswire/ -- High-end real estate auction house Platinum Luxury Auctions has announced a newly formed relationship with Berkshire Hathaway HomeServices. The Miami-based auction firm, which specializes in the non-distressed sale of multimillion-dollar properties nationwide on behalf of their wealthy owners, finalized an agreement to provide luxury real estate auction services to the Berkshire Hathaway HomeServices brokerage network in July of this year. Platinum is responsible for developing the luxury auction® model for high-priced real estate auctions and owns the trademark rights to the term "luxury auction," which is now widely used when referring to the non-distressed auction of luxury homes.
Berkshire Hathaway HomeServices is one of the nation's fastest-growing real estate brokerage networks, with more than 47,000 agents and nearly 1,400 offices named to the brand since it was launched in September 2013. The company was recently named "Real Estate Agency Brand of Year" and "Most Trusted Real Estate Brand" in the 2018 Harris Poll EquiTrend Study.
"As a progressive real estate brokerage franchise organization designed for today's real estate market, Berkshire Hathaway HomeServices is demonstrating its market savvy by embracing the luxury real estate auction process as yet another tool in the vast arsenal of marketing and sales strategies it offers its franchise members," said Trayor Lesnock, Platinum's president and founder. "More luxury property owners are seeking auction services today than ever before, and brokerages that embrace the auction process like Berkshire Hathaway HomeServices's network members have done, will set themselves apart as leaders in servicing the needs of luxury homeowners."
Lesnock added that as the overwhelming majority of his firm's transactions are conducted in cooperation with a property's given real estate agent, it stands to reason that a traditional real estate brokerage realizes the value in formalizing a service agreement with Platinum.
"At Berkshire Hathaway HomeServices, we empower our network agents with the tools, resources and opportunities to grow their businesses and prosper," said Gino Blefari, president and CEO of Berkshire Hathaway HomeServices. "The services provided by Platinum Luxury Auctions will certainly go a long way toward accomplishing that goal, especially for network agents who work with luxury clients."
Specifically, Platinum will function as a Luxury Program Preferred Supplier of real estate auction services to Berkshire Hathaway HomeServices network members, focusing on the upper tier of the brokerage network's agents who specialize in multimillion-dollar properties. Platinum primarily handles properties priced from $2.5 to $20 million, and its members have closed more than $765 million in luxury real estate auction sales to date. While it largely focuses on properties located within the United States, the firm has posted a number of record sales in the Caribbean territories, and has handled properties as far abroad as Fiji.
David Ashcroft, Platinum's director of business development, praised Berkshire Hathaway HomeServices for its approach to the newly formed relationship. "What's really exciting is that Berkshire Hathaway HomeServices understands the importance of service integration and ongoing agent education." Ashcroft explained that as part of its services agreement, Berkshire Hathaway HomeServices incorporated a detailed series of performance requirements and engagement opportunities that will serve to maximize the relationship.
Since memorializing the agreement with Berkshire Hathaway HomeServices, Platinum has been busy planning its integration and servicing strategy. "We haven't quite gone 'live' yet, but instead have been getting our team organized for a smooth launch," Ashcroft added. The firm looks to kick-off its agent integration when it attends Berkshire Hathaway HomeServices's 2018 Summit Conference, which runs Sept. 30 through Oct. 2, 2018. The event will be held in Vancouver, Canada, and will cater to Berkshire Hathaway HomeServices network agents who are within the top 9th percentile of sales production. Platinum is participating in the event as a sponsor.
Platinum's agreement with Berkshire Hathaway HomeServices marks the second, large-brokerage service contract secured by the auction house, as it has been a contracted provider of real estate auction services to the Sotheby's International Realty Affiliates network of brokerages since 2013.
About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction® model for high-priced real estate auctions and owns the trademark rights to the term "luxury auction." The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum's team has closed more than $765 million in luxury real estate auction sales to date, while consulting on more than $2.25 billion in additional luxury properties worldwide. www.PlatinumLuxuryAuctions.com.
About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices, based in Irvine, CA, is a real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. The brand was recently recognized as "Real Estate Agency Brand of Year" and "Most Trusted Real Estate Brand" in the 2018 Harris Poll EquiTrend Study, and for "Highest Overall Satisfaction for Repeat Home Sellers Among National Full Service Real Estate Firms" in J.D. Power's 2017 Home Buyer/Seller Satisfaction Study. Visit www.berkshirehathawayhs.com.
SOURCE Platinum Luxury Auctions