NEW YORK, Dec. 30, 2020 /PRNewswire/ -- Sotheby's
International Realty today announced that WP Realty in the country
of South Korea is the newest
member of its global network and will now operate as Korea
Sotheby's International Realty. The addition marks the brand's
first affiliated office in the country and its continued strategic
growth in Eastern Asia, bringing
its presence in the region to 18 offices.
Korea Sotheby's International Realty is led by Chair, Dr. Lei
Wang, and Co-Chair, Tiffany
Park, who bring 35 years of real estate experience to
the company. Korea Sotheby's International Realty is headquartered
in the capital city of Seoul and
will serve the residential markets of Seoul, Gyeonggi-do, and the surrounding
areas.
"South Korea's economic
strength and geographical advantage as a peninsular country greatly
appeal to global investors and luxury buyers," said Philip White, president and CEO, Sotheby's
International Realty. "The market is seeing a significant rise in
luxury real estate and high-rise developments, making it a prime
location for expansion. Dr. Wang and his team have a strong
understanding of the local market and we are proud to have Korea
Sotheby's International Realty as our affiliate in South Korea."
"From a global perspective, we are seeing interest from
investors in China,
Japan, and the United States,
in addition to an increased demand from local luxury buyers," said
Dr. Wang. "Aligning our company with Sotheby's International Realty
enables us to capitalize on our shared vision of artfully uniting
extraordinary properties with extraordinary lives and will permit
us to showcase our listings on an international scale."
Korea Sotheby's International Realty has experience working with
investors, luxury buyers, and developers with plans to work
alongside luxury hotel brands to develop residential resale in the
market. The company is actively involved in the local community
participating in various art and educational initiatives.
The Sotheby's International Realty® network currently
has more than 23,000 affiliated independent sales associates
located in approximately 1,000 offices in 72 countries and
territories worldwide. Korea 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. Each
office is independently owned and operated.
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real
estate service for discerning clients of Sotheby's auction house.
Today, the company's global footprint spans approximately 1,000
offices located in 72 countries and territories worldwide,
including 45 company-owned brokerage offices in key metropolitan
and resort markets. In February 2004,
Realogy entered 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 franchise system. The franchise system is
comprised of an affiliate network, where each office is
independently owned and operated. Sotheby's International Realty
supports its affiliates and agents with a host of operational,
marketing, recruiting, educational and business development
resources. Affiliates and agents also benefit from an association
with the venerable Sotheby's auction house, established in 1744.
For more information, visit www.sothebysrealty.com.
The affiliate network is operated by Sotheby's International
Realty Affiliates LLC, and the company owned brokerages are
operated by Sotheby's International Realty, Inc. Both
entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a
global leader in real estate franchising and provider of real
estate brokerage, relocation and settlement services. Both
Sotheby's International Realty Affiliates LLC and Sotheby's
International Realty, Inc. fully support the principles of the Fair
Housing Act and the Equal Opportunity Act.
CONTACT
Melissa
Couch
PR Manager
Sotheby's International Realty
973-407-6142
melissa.couch@sothebysrealty.com
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SOURCE Sotheby's International Realty