Sotheby's International Realty Brand Expands Presence in Indiana
Acquisition of established Fort Wayne real estate firm introduces the brand to a new market
MADISON, N.J., Jan. 17, 2018 /PRNewswire/ -- Sotheby's International Realty Affiliates LLC today announced that its independently owned and operated affiliate Encore Sotheby's International Realty in Indiana has acquired local firm Reecer Properties, Inc., which will now operate as Encore Sotheby's International Realty.
The acquisition expands the firm's presence into Fort Wayne, North Webster, and Roanoke, Indiana. Mark Zukerman, principal and owner of Encore Sotheby's International Realty, will remain at the helm of operations. With this acquisition, Encore Sotheby's International Realty now has five offices and 45 independent sales associates throughout central and northeast Indiana.
"Fort Wayne is referred to as the heart of the Midwest for its location and proximity to other key cities," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "We are proud to have Encore Sotheby's International Realty carry the brand into new markets in Indiana."
"Lynn Reecer has established an unparalleled level of service in the greater Fort Wayne area," said Zukerman. "This acquisition positions us to introduce the Sotheby's International Realty brand to this market and provide our local expertise with a global footprint."
The Sotheby's International Realty network currently has more than 22,000 affiliated independent sales associates located in over 970 offices in 72 countries and territories worldwide. In 2017, the brand achieved a record global sales volume of $108 billion USD. Encore 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.
About Sotheby's International Realty Affiliates LLC
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 clientèle 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. © 2019 Sotheby's International Realty Affiliates LLC. All rights reserved. Sotheby's International Realty® and the Sotheby's International Realty Logo are service marks licensed to Sotheby's International Realty Affiliates LLC and used with permission. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
CONTACT
Lindsey Scharf
Director, PR & Communications
Sotheby's International Realty Affiliates LLC
(973) 407-5596
[email protected]
SOURCE Sotheby's International Realty Affiliates LLC
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