Sotheby's International Realty Affiliates LLC today announced it has signed a 25-year franchise agreement with Redres NL BV to expand the Sotheby's International Realty® brand into the Netherlands with the opening of Redres Sotheby's International Realty.
Redres Sotheby's International Realty, co-owned by Jan-Willem Andriessen and Jim Reerink, will serve the luxury residential real estate market in Amsterdam and throughout the Netherlands. The firm is located in Hilversum, with plans for additional offices in Amsterdamand other key Dutch markets.
"The Netherlands have a growing luxury real estate market and it was the right time for our brand to have a presence within the country," said Philip White, president and chief executive officer of Sotheby's International Realty Affiliates LLC. "Amsterdam is a key city in the Netherlands that offers a strong and diverse international audience. I am proud to welcome Redres Sotheby's International Realty to the Sotheby's International Realty network."
"We are delighted to join the Sotheby's International Realty global network," said Reerink and Andriessen. "The luxury residential market is poised to grow rapidly, supported by strong economic growth, and we are excited to gain valuable insights on real estate markets around the world. Affiliating with the Sotheby's International Realty brand will help us meet the needs of high net-worth individuals looking for luxury homes in the Netherlands and overseas."
The Sotheby's International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide. Redres 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.sircaymanislands.com
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