Sotheby's International Realty Brand Enters Berlin

PARSIPPANY, NJ and BERLIN --(Marketwire - December 13, 2010) - Sotheby's International Realty Affiliates LLC today announced its luxury real estate services are now available in Berlin with the opening of Berlin Sotheby's International Realty.

The firm is managed by Anita Gärtner, who also operates and manages Hamburg Sotheby's International Realty.

"Our expansion across Germany continues our commitment to providing access to the Sotheby's International Realty network's exclusive real estate services in key countries around the world," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "This affiliation strengthens our presence in Germany, where we already have offices in Hamburg, Frankfurt, Dusseldorf, Essen and Wiesbaden. Berlin is an exciting real estate market, and we are very pleased that our global clientele will have access to our services in this historic and beautiful city."

Gärtner believes the Sotheby's International Realty® brand will attract many qualified buyers in Berlin, and has plans to further expand into additional German regions in 2011. "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 Gärtner. "The market in the Berlin 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 11,000 sales associates located in approximately 500 offices in 42 countries and territories worldwide. Berlin 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.

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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