List Sotheby's International Realty has acquired the existing Sotheby's International Realty affiliate brokerage operations in Phuket, Thailand, and the Philippines, respectively. The company will continue operations at the existing location in Taguig, Philippines and will rebrand using the List Sotheby's International Realty name. The company plans to launch a new List Sotheby's International Realty office in Bangkok, Thailand during the first half of 2017.
This agreement furthers the growth of List Sotheby's International Realty in the Asia-Pacific region. Led by Owner and Chief Executive Officer Hisashi Kitami, the firm expanded into Singapore earlier this year, building upon its existing market presence in Japan and in Oahu, Hawaii.
"Thailand and the Philippines are key gateways into the growing markets of Southeast Asia and also hold attractive properties for global investors," said Philip White, president and chief executive officer of Sotheby's International Realty Affiliates LLC. "Hisashi Kitami and his team continue to exemplify our brand's core values and commitment to providing the highest levels of service in luxury real estate and we are proud of their continued growth."
"We are excited to complete our acquisition of the territory of Thailand, starting in its capital city of Bangkok, while unveiling our strategic expansion into the brand's existing market presence in the luxury residential segment in Phuket," said Kitami. "The Philippines has been one of the top destinations for investors worldwide and offers attractive opportunities for our existing clientele and has an international consumer base. The global reach of the Sotheby's International Realty network is beneficial to our clients and aligns with the mindset of our team."
The Sotheby's International Realty network currently has more than 19,000 affiliated independent sales associates located in approximately 850 offices in 65 countries and territories worldwide. List 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 LLC
Founded 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 .
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