Executives from Gibson Sotheby's International Realty and Unlimited Sotheby's International Realty pose at a Newton restaurant in January 2024 to mark the former residential brokerage's purchase of the latter. Photo courtesy of Gibson Sotheby's International Realty

Fresh off its acquisition of a Provincetown brokerage earlier this month, Boston residential real estate brokerage Gibson Sotheby’s International Realty announced it has bought Unlimited Sotheby’s International Realty.

The move fills an inner-suburban hole in Gibson Sotheby’s territory and gives it offices in Newton Centre, Brookline’s Coolidge Corner and Boston’s Jamaica Plain neighborhood and 60 more agents.

“Our established strongholds in Boston, Cambridge, and the MetroWest make this alliance a natural fit,” Nicole Rideout Hartwick, Gibson Sotheby’s chief strategy officer, said in a statement. “This acquisition cements our presence in these markets and, as one company, allows us to more effectively access important international markets and harness the prestige of the Sotheby’s International Realty brand.”

Financial terms of the deal were not disclosed, but Unlimited Sotheby’s three principal brokers, Margie Kern, Scott Goldsmith, Jon Ufland and Chuck Silverston will continue on with Gibson Sotheby’s as broker associates.

“We are thrilled to join forces with Gibson Sotheby’s International Realty under the leadership of Larry Rideout and Paul McGann,” Goldsmith, the Unlimited Sotheby’s managing member, said in a statement. “Our agents and staff are the heart of our success, and our mutual affiliation with Sotheby’s International Realty, the most trusted and recognized real estate brand in the world, allows us to continue delivering unmatched client service. There is now a clear sales and marketing leader in Eastern Massachusetts with a strong culture of support, and we’re excited for the opportunities ahead.”

The residential market’s slowdown over the last 20 months has cut into brokerages’ transaction sides, putting pressure on earnings. December 2023 saw the fewest single-family sales statewide since December 2008, when the world was in the grips of a global financial crisis, and 2023 closed out with only 40,828 single-family homes trading hands, the lowest annual tally since 2011.

In addition to Provincetown’s five-agent Pat Shultz Real Estate, Gibson Sotheby’s also bought a 16-agent Newburyport brokerage in early 2023.

“In spite of market fluctuations, Gibson Sotheby’s International Realty continues to grow and lead the industry with stability and expertise,” Gibson Sotheby’s CEO Colleen Barry said in a statement. “Unlimited Sotheby’s International Realty brings an incredibly talented group of agents. With our best-in-class marketing, technology tools and resources, and widespread market share, I’m confident we can elevate their success and help them outperform the market.”

Other high-profile acquisitions in the past 12 months include William Raveis’ purchase of the 50-agent Jones Group Realtors brokerage in Northampton, Berkshire Hathaway Home Services Robert Paul Properties’ buying of 28-agent BHHS Mel Antonio Real Estate and Lamacchia Realty’s purchase of two South Coast brokerages that totaled 80 agents.