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MADISON, New Jersey, July 25, 2018 /PRNewswire/ -- Sotheby's International Realty Affiliates LLC today announced that it has signed agreements with LIST Co., LTD, which owns List Sotheby's International Realty, to expand the Sotheby's International Realty® brand presence into Indonesia and Vietnam.
List Sotheby's International Realty will expand into the important markets of Jakarta and Bali in Indonesia, and Ho Chi Minh City and Hanoi in Vietnam. Operations in both countries are projected to open in the second half of 2019.
Led by Owner and Chief Executive Officer Hisashi Kitami, List Sotheby's International Realty currently has a strong presence throughout the Asia-Pacific region including offices in Hawaii, Hong Kong, the Philippines, Japan, Singapore and a new office in Thailand opening September of this year.
"The addition of Vietnam and Indonesia to the List Sotheby's International Realty portfolio will further establish their foothold in Southeast Asia," said Philip White, president and chief executive officer of Sotheby's International Realty Affiliates LLC. "Hisashi Kitami and his team have a strong history of growth in the markets they serve, and we are proud to have them lead this venture."
"Because of geographical and economical closeness, the addition of Indonesia and Vietnam to our current portfolio of locations will facilitate more cross-border transactions, which will be beneficial for all stakeholders including our clients, employees, and agents," said Kitami.
The Sotheby's International Realty network currently has more than 22,000 affiliated independent sales associates located in approximately 950 offices in 70 countries and territories worldwide. In 2017, the brand achieved a record global sales volume of $108 billion USD. 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.
CONTACTS
Lindsey Scharf
Director, Public Relations & Communications
Sotheby's International Realty Affiliates LLC
175 Park Avenue Madison, NJ 07940
+1.973.407.5596
Lindsey.Scharf@sothebysrealty.com
Takae Suzuki
List Sotheby's International Realty
List Kannai Bldg., 4-47 Onoe-cho, Naka-ku, Yokohama, Kanagawa,
231-0015 Japan
+81 45 671 1111
takae.suzuki@sothebysrealty.com
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