Northern California Real Estate Merger Expands Sotheby's International Realty(R) Network

June 30, 2008 // Franchising.com // PARSIPPANY, N.J. — Sotheby's International Realty Affiliates LLC today announced that Montclair Better Homes Realty in Oakland, Calif., has merged with People & Properties Sotheby's International Realty, Calif., becoming the newest member of its luxury real estate network.

Montclair Better Homes Realty's two offices in Oakland, Calif., now will do business as East Bay Sotheby's International Realty. The two People & Properties Sotheby's International Realty offices in Danville, Calif., and one in Lafayette, Calif., will continue to operate under the People & Properties Sotheby's International Realty name. The current Better Homes Danville office also will operate under the People & Properties Sotheby's International Realty name.

Mark Attarha and Nahid Nassiri will serve as owners and brokers for all six offices, which will have a total of approximately 225 agents.

"Joining the Sotheby's International Realty brand allows us to serve our clients with a greater level of sophistication and a more global reach," said Attarha. "The superior service, marketing, technology and name recognition this affiliation provides will be a powerful resource for our clients. I am grateful to Bob Pohl and Dennis Simkin for introducing People & Properties Sotheby's International Realty to this market and look forward to working with them."

Pohl views the merger as an opportunity to further grow the firm's market presence. "This truly is a merging of two great companies," said Pohl. "It is a fabulous opportunity to expand this brand in the Bay area and enhance our services and reach for our clients."

According to Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC, the merger will help bring the firm to new levels of success.

"Montclair Better Homes is a prestigious firm that shares the Sotheby's International Realty philosophy of providing exceptional real estate services," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The firm has served the greater East Bay area with a high level of expertise for more than 30 years. We look forward to this fine firm using our brand services to market their client's properties and attract prospective buyers from throughout the country and world."

The Sotheby's International Realty network currently has more than 9,500 sales associates located in more than 485 offices in the United States and 32 other countries and territories. East Bay Sotheby's International Realty listings will be marketed on the sothebysrealty.com global Web site. In addition to more referral opportunities and widened exposure generated from these sources, the firm will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs.

The firm's corporate office is located at 360 Diablo Rd., Danville, Calif., 94526, and can be reached at (925) 838-9700.

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. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, 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 by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. 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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