Sotheby’s International Realty Network Achieves ‘Quality Growth’ in 2007

RISMEDIA, Feb. 13, 2008-Sotheby’s International Realty Affiliates LLC announced that in 2007 it grew its office network by 37% and expanded into 13 additional countries. The Sotheby’s International Realty network now has approximately 9,000 sales associates located in more than 470 offices in the U.S. and 29 other countries and territories.

According to the company, the average sales price for Sotheby’s International Realty brokers also increased by 3.1% in 2007 while the industry’s average sales price declined by 1.9% in the same period, according to the National Association of Realtors®.

“This year has been a year of many achievements,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “In 2007, the Sotheby’s International Realty brand added 120 offices in the U.S. and 29 other countries and territories. Most importantly, that growth has been quality growth. In 2007 we expanded into important new markets all over the world.”

The fourth quarter of 2007 saw the addition of four new firms and expansion into two new countries.

Those four firms are: Equitable Sotheby’s International Realty, Scottsdale, Ariz.; Heritage Sotheby’s International Realty, Napa, Calif.; Russell Post Sotheby’s International Realty in the Ocean Reef community of Key Largo, Fla.; and Thorpe Sotheby’s International Realty, Vero Beach, Fla.

Internationally, the brand expanded into Portugal and Qatar with the openings of Portugal Sotheby’s International Realty, Estoril, Portugal, and Qatar Sotheby’s International Realty, Doha, Qatar, in the fourth quarter.

Listings from these firms will be marketed on the sothebysrealty.com global Website. In addition to the referral opportunities and great exposure generated from these sources, the firms will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.

For more information, visit www.sothebysrealty.com.

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