Hi gzimmer,
First off, if the 700/Q47 that you've listed in your profile is an Official Score, then it's an outstanding result (it's right around the 90th percentile overall), so you should apply to any Business Schools that interest you. By extension, a retest is probably not necessary. Depending on the Schools that you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile. There's a Forum full of them here:
https://gmatclub.com/forum/ask-admission ... tants-124/If you'd like some additional analysis of your ESR, then you can feel free to PM it to me.
GMAT assassins aren't born, they're made,
Rich