Sotheby’s International Realty has established the brand’s first affiliate office in Arkansas.
Portfolio Luxury Real Estate Redefined in Rogers is the newest member of the Sotheby’s global network and will now operate as Portfolio Sotheby’s International Realty. Portfolio is owned and operated by Kristen Boozman, the middle daughter of U.S. Senator John Boozman, R-Ark.
“Kristen and her team have served the Northwest Arkansas market for more than a decade and we are proud to welcome Portfolio Sotheby’s International Realty to the brand’s vast network,” Sotheby’s International Realty President and CEO Philip White said in a statement announcing the affiliation.
White said Portfolio will remain independently owned and operated. He said Sotheby’s “thoroughly vets” potential affiliate companies before they join the network to make sure there is a mutually beneficial relationship.
We seek affiliates and owners that have a strong understanding of their market and are experts in the area,” he said. “They also have the capability to take a global brand and localize it. Portfolio Sotheby’s International Realty aligned well with the brand’s values and culture, and possessed a strong market presence, making them an ideal affiliated company to join the network.”
Boozman began selling real estate 15 years ago and opened her own company in 2008. Portfolio has grown to include 13 agents and specializes in marketing the area’s largest and most notable residential properties, oftentimes on the QT. In 2017, Portfolio represented clients in seven of the 10 most expensive home sales in Northwest Arkansas.
The Northwest Arkansas Business Journal recognized Boozman in 2018 with a Women in Business Award.
“Our mission has always been to offer the highest level of service, making the Sotheby’s International Realty brand a perfect fit for our values and company culture,” Boozman said. “For us, our responsibility goes far beyond assisting our clients in the purchasing and selling of real estate. We are ambassadors of our community and of our industry. As Northwest Arkansas continues to grow and attract talent from all over the world, our affiliation with the Sotheby’s International Realty brand will enable us to promote our clients and acquire new customers on a global scale.”
Sotheby’s International Realty, a subsidiary of publicly traded Realogy Holdings Corp. (NYSE: RLGY), was founded in 1976 as a real estate service for discerning clients of the famed Sotheby’s auction house.
The Sotheby’s International Realty network now has more than 22,700 affiliated independent sales associates in nearly 1,000 offices in 70 countries and territories worldwide. In 2018, the brand totaled a record global sales volume of $112 billion.
Portfolio has recently moved to a new location in Rogers. Boozman and her husband, John Schmelzle, were the developers of a new 18,000-square-foot building at 3712 S. Pinnacle Hills Parkway, at the intersection of West J.B. Hunt Drive. Portfolio is the primary tenant of the three-story building, which also includes four fully furnished, two-bedroom residential condo units on the third floor available for corporate leasing.
Fayetteville-chartered Signature Bank of Arkansas is also a tenant. The bank opened a branch on the first floor and is also leasing some office space on the second floor.