- Change Currency:
Kathryn A. Korte, one of the world’s foremost experts in luxury real estate, is president and chief executive officer of Sotheby’s International Realty Inc., responsible for the management of 43 brokerage offices and more than 1,900 independent sales associates. She also is executive vice president of NRT LLC, parent of Sotheby’s International Realty Inc. and the nation’s largest residential real estate brokerage company.
Under her leadership during the last eight years, Korte created specialized marketing strategies for ultra-luxury residential property, achieving multiple closed sales in excess of $100 million. She strengthened the company’s pipeline of international buyers through a multichannel partnership with Sotheby’s auction house – highlighted by key events in Hong Kong, London and New York – and set new company sales records, pushing total closed sales volume to nearly $17 billion in its record year.
Korte also strengthened the market position of Sotheby’s International Realty Inc. through acquisitions in New York City, northern and southern California; Greenwich, Connecticut; and Houston, the fourth-largest city in America. The 2014 acquisition of Martha Turner Properties, a luxury real estate firm with sales volume in excess of $2 billon, expanded the company’s operations into Houston, a first both for Sotheby’s International Realty and NRT.
From 2005 to 2006 she was executive vice president and chief operating officer of the Eastern Region, consisting of 23 brokerage offices in seven East Coast markets. In that role, she oversaw acquisitions in Massachusetts and New York; spearheaded management and business restructurings in Greenwich, the Hamptons, New York, and New York City; office expansions in lower Manhattan, East Hampton and Bridgehampton in New York; and educational opportunities for sales associates regarding the company’s value proposition and listing presentation strategies and branch managers regarding associate development and recruitment strategies.
From 1992 to 2005, Korte served Sotheby’s International Realty as senior vice president and brokerage manager of its Manhattan brokerage division. During her 13-year tenure, she was responsible for nearly tripling profits while increasing sales volume to more than $1 billion.
She began her real estate career in 1984 in the Manhattan brokerage division of Sotheby’s International Realty. She was appointed director of administration in 1989 with responsibility for managing the Human Resources and Brokerage and Affiliate Administrative Services departments.
Korte earned a bachelor of arts degree in political science from Franklin & Marshall College, Lancaster, Pennsylvania. In 2005 she completed the CEO Series Leadership Program of The Wharton School, Philadelphia.
She is a member of The Luxury Marketing Council’s New York City chapter; an active member of the Asian Real Estate Association of America (AREAA), which she frequently addresses on the marketing of ultra-luxury real estate; Westchester Board of Realtors; and the Real Estate Board of New York (REBNY), which she served as a member of its Inter-Firm Committee from 1992 to 2004 and board of directors in 2003 and 2004.
Korte was recently recognized as one of the 100 Most Influential Real Estate Leaders in the annual Inman News ranking and is frequently is interviewed as a real estate expert by The Wall Street Journal and The New York Times.