Sotheby's International Realty Brand Expands Presence in Vietnam

March 09, 2012 // Franchising.com // PARSIPPANY, N.J. and HO CHI MINH, VIETNAM -- Sotheby's International Realty Affiliates LLC today announced its luxury real estate services are now available across Vietnam's Central Coast with the opening of Vietnam Sotheby's International Realty's second office, located at the Montgomerie Links Golf Course in the Quang Nam Province.

Michael Piro serves as country manager of Vietnam Sotheby's International Realty, which opened its first office in Ho Chi Minh City in December 2008. The Sotheby's International Realty® network's presence in the Asia Pacific also includes firms in Phuket, Thailand; Hong Kong; Taiwan; Japan; and New Zealand.

"Our expansion across Asia continues our commitment to providing access to the Sotheby's International Realty network's exclusive services in key luxury real estate markets around the world," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "This new office strengthens our presence in both Vietnam and Asia as we enter one of the fastest growing and beautiful luxury markets in the region. Our 2012 growth focus is on quality Asian markets that are currently not represented by our brand."

According to Piro, Vietnam's Central Coast is quickly establishing itself as a premier leisure destination, and with the recent opening of Da Nang's new international airport, the Central Coast office is poised to capture the rapidly increasing demand for vacation homes from foreign and local buyers alike. "We have long considered the Da Nang-Hoi An area a key target in Vietnam's luxury market and of particular importance for Vietnam Sotheby's International Realty," he said. "We are proud to be the exclusive representative of the area's most prestigious properties including the newly opened Hyatt Regency Da Nang Residences, luxury pool villa residences at The Nam Hai (operated by GHM) and The Estates at Montgomerie Links, Vietnam's most exclusive golf community."

The Sotheby's International Realty network currently has nearly 12,000 sales associates located in approximately 600 offices in 45 countries and territories worldwide. Vietnam Sotheby's International Realty 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 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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