Sotheby's International Realty Brand Expands Presence in Baltic States

PARSIPPANY, NJ and TALLINN, ESTONIA--(Marketwire - Jul 14, 2011) - Sotheby's International Realty Affiliates LLC today announced its luxury real estate services are available for the first time in Estonia with the opening of Baltic Sotheby's International Realty in Tallinn.

The firm is owned by Vestards Rozenbergs, Leonid Kil and Ilze Mazurenko, who opened their first office in Riga, Latvia, in March 2010, followed by the opening of an office in the resort town of Jurmala in June 2010.

"Our expansion across the Baltic states underscores our commitment to providing access to our 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. "Tallinn is an exciting and dynamic real estate market and we are very pleased that our global clientele will have access to our luxury real estate services in this historic and vibrant city."

Rozenbergs believes the Sotheby's International Realty® affiliation will attract many qualified buyers to their luxury residential listings. "The Sotheby's International Realty brand is known throughout the world for its quality of service," he said. "The market throughout the Baltic region remains stable for high-end properties and the demand exists in this strong economic region of Estonia. We offer extensive marketing campaigns, use the latest technology and believe in building strong teams of experienced real estate agents. The Estonian office will be led by Rauni Tillisoo, a seasoned real estate professional."

The Sotheby's International Realty network currently has more than 11,900 sales associates located in approximately 560 offices in 42 countries and territories worldwide. Baltic Sotheby's International listings are 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 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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