MADISON, N.J. and LUXEMBOURG, June 17, 2014 /PRNewswire/ -- Sotheby's International Realty Affiliates LLC today announced that Luxembourg Real Estate Partners S.A. has joined its network and now will do business as Luxembourg Sotheby's International Realty.
The firm, which is managed by Philippe Vermast, serves the high-end real estate market in Luxembourg and surrounding towns. The Sotheby's International Realty ® network now has approximately 150 offices across Europe, Middle East and Africa with the addition of Luxembourg Sotheby's International Realty.
"Our expansion into Luxembourg strengthens our presence across Europe and continues our commitment to providing access to the Sotheby's International Realty network's exclusive real estate services in key markets around the world," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. " Luxembourg is the seat of several institutions and agencies of the European Union and it has a rich history and heritage. We are proud to be able to represent the fine real estate found throughout the country."
According to Vermast, the Sotheby's International Realty brand has the reach and recognition needed to serve a market that consists of a large percentage of foreign residents. "People are moving to Luxembourg from all parts of the world to take advantage of its high quality of life, strong education and employment, as well as its many financial advantages," he said. "We have many years of local real estate experience and can communicate in multiple languages. Our rich cultural heritage and sense of constant innovation are the main reasons for the broad choice of architectural styles found here, which range from classical townhomes to contemporary family residences. For a small country, we have a lot to offer and people from all over the globe are realizing it."The Sotheby's International Realty network currently has more than 15,000 independent sales associates located in approximately 700 offices in 54 countries and territories worldwide. Luxembourg Sotheby's International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated. About Sotheby's International Realty Affiliates LLCFounded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com. CONTACTS
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