PARSIPPANY, NJ and WIESBADEN, GERMANY--(Marketwire - December 21, 2009) - Sotheby's International Realty Affiliates LLC today announced that Peters & Peters Sotheby's International Realty in Wiesbaden, Germany, has joined its luxury real estate network.
The firm is owned by Olivier and Jennifer Peters and will serve the Rhine main region, which includes the cities of Frankfurt and Wiesbaden. The Sotheby's International Realty network already includes firms in Hamburg, Essen and Dusseldorf.
"The addition of Peters & Peters Sotheby's International Realty reinforces the strength of our presence in Germany, one of the most important markets in Europe," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "We look forward to growth in this market with Olivier and Jennifer Peters and the team of professionals they are building."
The firm is located in Wiesbaden and has plans to expand in 2010.
"We have strong partnerships and client relationships at home and abroad, a professional infrastructure and a focus on high-level training of sales agents," said Olivier Peters. "The market in the Frankfurt region remains stable for high-end properties and the demand is still very high in this strong economic region of Germany."
The Sotheby's International Realty network currently has more than 10,700 sales associates located in approximately 500 offices in 40 countries and territories worldwide. Peters & Peters Sotheby's International Realty listings will be marketed on the sothebysrealty.com global Web site. 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.
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.