April 01, 2010 // Franchising.com // PARSIPPANY, N.J. -- Sotheby's International Realty Affiliates LLC today announced that Terrace Realty in Forest Hills Gardens, N.Y., is the newest member of its luxury real estate network.
The firm, owned by Susanna L. Hof and Robert M. Hof, now will do business as Terrace Sotheby's International Realty. The firm will serve New York's Forest Hills, Forest Hills Gardens, Kew Gardens and Rego Park markets.
"Susanna and Robert have been personally involved as managing partners in this firm for 30 years," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "Terrace has served as a premier broker in this community's real estate market since 1968, and Susanna and Robert's families have been involved in Forest Hills and Manhattan real estate since 1910. We are proud to have them represent the Sotheby's International Realty brand in this unique New York City metropolitan community."
The firm's office is located at 16 Station Square in Forest Hills, N.Y., with 11 sales associates.
"Located only 13 minutes by commuter rail from midtown Manhattan, Forest Hills was the country's first planned community," said Susanna Hof. "As the largest and most established residential real estate firm in Forest Hills Gardens, we have consistently completed the majority of brokered residential sales within Forest Hills Gardens and a substantial percentage of sales in Forest Hills Gardens' neighboring residential areas as well. We maintain a high standard for our sales associates in their representation of our company within the community."
The Sotheby's International Realty® network currently has more than 10,600 sales associates located in approximately 500 offices in 38 countries and territories worldwide. Terrace 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.