Sotheby’s International Realty Affiliates this week celebrated its one-year anniversary as a luxury real estate franchise system by announcing a master franchise for Western Canada and the addition of two premier real estate companies to its luxury franchise network. The organization was established last year and began awarding franchises in summer 2004, already attracting 17 premier firms in the U.S. and two international franchises.
Earlier this week, Sotheby’s International Realty Affiliates Inc. awarded exclusive master franchise rights for the Canadian provinces of Alberta and British Columbia to a partnership headed by Vancouver businessman Ross McCredie. The company will operate as Sotheby’s International Realty Western Canada.
Sotheby’s International Realty Affiliates, Inc. also announced the addition of two real estate firms to its luxury franchise network this week. Big Sky Realty, located in Big Sky, Mont., joined the system and will now do business as Big Sky Sotheby’s International Realty. Towne & Country Properties, located in Tuxedo Park, N.Y., also just joined the network and will now do business as Towne & Country Sotheby’s International Realty.
On Feb. 17, 2004, Cendant Corp. entered into a long-term strategic alliance with Sotheby’s Holdings Inc., whereby Cendant licensed the Sotheby’s International Realty brand in order to develop a luxury franchise system. At the same time, NRT Inc., a Cendant subsidiary, acquired the company-owned residential real estate brokerage operations of Sotheby’s International Realty.
Sotheby’s International Realty Inc. is comprised of a real estate brokerage operation and a franchise/affiliate system of independently owned and operated real estate companies. Sotheby’s has signed 15 franchise agreements in the United States and one master franchisor in Europe, since signing a long-term strategic alliance with Cendant, a real estate brokerage franchiser.
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