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THE HISTORY OFAN EXTRAORDINARY BRAND
Since the founding of the Sotheby's Auction House in 1744 as an auction bookseller, the Sotheby's name has earned renown as a marketer of the world's most valuable and fine possessions. This reputation is built as much on exceptional service to clients as it is on the notable art, antiques, jewelry and other holdings that pass through Sotheby's offices around the world. It was out of this rich heritage that the Sotheby's International Realty® brand was born.
Sotheby's Auction House Founded on the same commitment to exceptional service that characterized the for more than two centuries, the Sotheby's International Realty ® brand is launched and becomes known around the world for the distinctive properties it represents.
Sotheby's enters into a long-term strategic alliance with Realogy Corporation , the world's leading real estate brokerage franchisor. The agreement provides for the licensing of the Sotheby's International Realty ® name. The brand begins offering membership in its franchise system to select real estate brokerage companies.
The brand surpasses the 100-office milestone in the United States in less than ten months. It also launches its successful "Portraits" advertising campaign and its website, sothebysrealty.com. The Jackson Hole, Wyo. , office records a significant ranch sale for approximately $90 million, and Daniel Gale Sotheby's International Realty in Long Island, N.Y., and William Pitt Sotheby's International Realty in Connecticut joins the network.
Prominent Properties Sotheby's International Realty sells the Frick Estate in Alpine, N.J., for $58 million.
The brand also expanded its global reach with the additions of New Zealand Sotheby's International Realty, de Rham Sotheby's International Realty in Switzerland and Kristina Szekely Sotheby's International Realty in Spain.
The brand welcomes Atlanta Fine Homes Sotheby's International Realty in Georgia to its network, as well as its 100th U.S. affiliate company, Nestler Poletto Sotheby's International Realty in Boca Raton, Fla. The sale of Rancho El Cojo and Jalama Ranch is recorded for approximately $155 million in Santa Barbara, Calif., county, and the brand launches RESIDE® magazine
The network grows to approximately 9,000 sales associates located in more than 470 offices worldwide. The brand is named winner of Franchise Business Review's 2008 Best in Category for Real Estate Franchisee Satisfaction award. It also is named to the organization's top 50 for client satisfaction and is number five for all franchise categories with more than 200 locations. As well, the brand is rated the most prestigious real estate company by high-net worth consumers in the Luxury Institute's 2008 Luxury Brand Status Index survey.
The brand is named winner of Franchise Business Review's Best in Category for Real Estate Franchisee Satisfaction award for the third year in a row. Peaks Real Estate Sotheby's International Realty also sells BootJack Ranch for approximately $48 million, a price point that at the time is the highest known for a residential sale within the United States in the last 12 months.
In 2010 the brand grew the office count within its network by more than 11 percent, ending the year with 11,700 sales associates located in more than 550 offices in 44 countries and territories worldwide.
Aruba Sotheby's International Realty opens with the vision of providing buyers and sellers with a reliable real estate partner.
Grand Opening of new office located on Bonaire Island.