March 31, 2017 // Franchising.com // Madison, N.J. and Hong Kong - Sotheby’s International Realty Affiliates LLC today announced that it has signed an agreement with List International Realty Limited, which owns List Sotheby’s International Realty, to now represent the Sotheby’s International Realty® brand in Hong Kong. The firm will be led by President and CEO, Hisashi Kitami, who also leads List Sotheby’s International Realty operations in Japan, the Philippines, Hawaii, and Singapore.
“Hong Kong residents have a keen interest in luxury real estate and the territory also has a strong appeal to international buyers,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC. “Hong Kong is a key global market, and we are proud to be represented in this important region by Hisashi Kitami and his team.”
List Sotheby’s International Realty is set to open its first office in Hong Kong in the second half of 2017. As previously announced, the firm also has plans to open in Bangkok, Thailand, within the next year.
“We have had a strong track record with the Sotheby’s International Realty brand and have since used this formula for success to expand into additional global markets,” said Kitami. “At List Sotheby’s International Realty, we serve the needs of clientele who seek to diversify their real estate assets across locations internationally and we are committed to setting the industry standard for excellence.”
The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 66 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. List 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. Each office is independently owned and operated.
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. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy 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. 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.
Director, International Marketing, Asia Pacific
Sotheby's International Realty Affiliates LLC
175 Park Avenue Madison, NJ 07940
List Sotheby’s International Realty
List Kannai Bldg., 4-47 Onoe-cho, Naka-ku, Yokohama, Kanagawa, 231-0015 Japan
SOURCE Sotheby’s International Realty Affiliates LLC