Sotheby's realty franchise grows in U.K.

British real estate company Countrywide has signed an exclusive 25-year licensing agreement with Sotheby's International Realty for master franchise rights in the United Kingdom and Channel Islands, the luxury real estate network announced this week.

"This is a major step forward in our worldwide growth plan," said Michael R. Good, president and CEO of Sotheby's International Realty Affiliates LLC, in a statement. "This agreement will enable the Sotheby's International Realty brand to expand significantly in London and throughout the United Kingdom. The leadership of Countrywide is very talented and committed to growing our presence steadily over the next several years."

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