Sotheby’s is betting on New Brunswick because luxury buyers are looking for value and privacy

Sotheby’s is betting on New Brunswick because luxury buyers are looking for value and privacy

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A view of a popular lighthouse in St. Andrews (source: contributed).

Sotheby’s International Realty Canada has expanded into New Brunswick, launching in the resort town of St. Andrews, as the region attracts a growing group of luxury homebuyers looking for space and beautiful living at a fraction of big-city prices.

Scott and Angie Bryant, the married duo who run Sotheby’s in Atlantic Canada.

Scott Bryant, regional director of Sotheby’s Atlantic, said the move builds on demand that has grown since the firm opened its Halifax office in 2022, driven in part by changing buyer behavior during and after the pandemic.

He said Atlantic communities like St. Andrews, a historic town almost completely surrounded by water and about a 30-minute drive from the Maine border, “have become a central area of ​​interest.for people across the country and around the world” who are looking for water views, expansive lots and stately homes at a relatively accessible price point.

Bryant, who entered the real estate industry after an executive-level career in the mortgage industry, launched the Sotheby’s brand on the East Coast with his wife Angie Bryant, a broker and vice president of sales.

First New Brunswick agent brings in more than 20 listings

The New Brunswick operation will launch with Debbie Grant, a broker since 2018, who joined Sotheby’s as its first sales representative in the province, previously working under the Coldwell Banker banner. Bryant said Grant brought with him more than 20 properties, including vacant lots, recreational properties, standard residential homes and multi-million dollar properties.

“She has done an extraordinary job in that market,” Bryant said, calling her “an ideal fit” and a natural choice to lead the company’s entry into New Brunswick.

What counts as luxury in Atlantic Canada

One of Grant’s listings in the heart of St. Andrews ($1.35 million).

Defining what qualifies as a luxury home in New Brunswick can be fluid, Bryant said, noting that Sotheby’s views luxury as an experience, rather than a strict price.

“For a lot of people, they’ll come and find a $500,000, $600,000 house and look at it and say, ‘Wow, in the market where I come from this would be $1.5 million, $2 million,’” he said.

In Atlantic Canada, Bryant said the luxury threshold can range from “anywhere from $500,000 to $2 and $3 million,” with properties above $1 million becoming more common over the past five to six years.

Bryant said many buyers are attracted to oceanfront properties in St. Andrews, while in other parts of the province lakes and rivers can be just as attractive. “People are amazed at the fact that they are acquiring two hectares, if not 200 hectares,” he said.

A 3,100-square-foot custom home overlooking the tidal river is among Grant’s offerings, priced at $1.295 million, including nearly three acres of private, manicured grounds in the rural community of Oak Bay.

The town of St Andrews, which has a population of over 2,000, is rich in character homes, including two four-bedroom houses currently listed by Grant on Montague Street for $1.15 million and $1.35 million.

Expansion planned for larger hubs

While St. Andrews is the starting point, Bryant said the company plans to expand across the province by adding agents in other communities.

He said Moncton, Dieppe, Saint John and Fredericton are expected to be next.

“We are actively pursuing that and look forward to welcoming more people.”

He said the company aims to find the “right professionals” for each community, rather than quickly expanding with large numbers of agents.

Buyers from across Canada and the US

Buyer interest is coming from the region as well as across Canada and the United States, Bryant said.

The shift to remote work during the pandemic has fueled interest from Ontario, Alberta and British Columbia, while people in the southern U.S. see Atlantic Canada as an escape from the sweltering summer heat.

Bryant said policies such as the ban on foreign buyers have made doing business more challenging, but “it hasn’t stopped the influx of inquiries.”

Bryant said many buyers initially arrive with the intention of staying only part of the year, but later come to treat the property as a nearly full-time home. “They think it’s going to be a month or two, maybe in the summer, but we’re finding that they’re coming back at Christmas and spending the holidays,” he said.

The base in Halifax continues to grow

He said the expansion in New Brunswick reflects how customers view Atlantic Canada as one interconnected region rather than separate provincial markets. Thanks to its coverage in the two maritime provinces, the brokerage offers buyers more choice in the region.

“It’s an extraordinary place, and I think it’s often a part of the country that doesn’t get the accolades it deserves, so I couldn’t be prouder to represent the brand in both provinces,” said Bryant.

Sotheby’s Atlantic Canada operation currently employs 15 people in Nova Scotia, including 13 licensed agents and one administrator.

Bryant said the Nova Scotia team has completed approximately 240 transactions annually over the past two years.

“This was never about taking over multiple agents,” Bryant said. “It was about making sure we have group coverage and that we can provide this high level of service to consumers.”