Sotheby's International Realty Brand Expands in Uruguay

PARSIPPANY, NJ and PUNTA, URUGUAY--(Marketwire - Apr 21, 2011) - Sotheby's International Realty Affiliates LLC today announced the signing of an exclusive master franchise agreement with Alejandro Perazzo Inmobiliaria to develop the Sotheby's International Realty® brand throughout Uruguay under the name Uruguay Propiedades Sotheby's International Realty.

Uruguay Propiedades Sotheby's International Realty is owned by Alejandro Perazzo, who serves as managing director. Perazzo founded Perazzo Inmobiliaria, an established real estate company with offices in principal cities of the country: Punta del Este, Punta Ballera, La Barra and Jose Ignacio. Those offices now will operate as part of the Sotheby's International Realty network, focusing exclusively on serving luxury clientele.

"Uruguay is a strategically important market for the Sotheby's International Realty brand, and this new launch represents another key step forward in our growth across South America following a recent opening in Peru," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "Alejandro Perazzo is uniquely qualified to combine the best global business practices with local knowledge and experience and I am confident that under his leadership the company will bring quality service to Sotheby's International Realty clients worldwide. We are truly proud that Uruguay Propiedades Sotheby's International Realty is part of our network."

According to Perazzo, the Sotheby's International Realty brand's global reach complements his firm's local expertise. "We are well-known for our professionalism, working closely with the largest residential developers in the most expensive and exclusive locations in Uruguay," he said. "We strive to provide the very best service to our clients. Over the years, we have acquired an excellent reputation and a credible track record as a leading specialist in our chosen field, and the Sotheby's International Realty brand's reputation as the world's premium luxury property marketer is a perfect fit for this country."

The Sotheby's International Realty network currently has more than 11,700 sales associates located in approximately 550 offices in 44 countries and territories worldwide. Uruguay 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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