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Franchising

Sotheby's International Realty Brand Expands Presence in the Florida Keys

November 16, 2017

MADISON, N.J., Nov. 16, 2017 /PRNewswire/ -- Sotheby's International Realty Affiliates LLC today announced that its independently owned and operated affiliate, Ocean Sotheby's International Realty in Islamorada, Florida, has acquired Engel & Völkers Florida Keys. The acquired firm will now operate as Ocean Sotheby's International Realty.

The acquisition expands Ocean Sotheby's International Realty into new markets, including Marathon and Key West, while continuing to serve the luxury residential real estate market in Islamorada. With this addition, the firm has now grown to over 30 independent sales associates.

"Ocean Sotheby's International Realty has prospered in its local market and we are proud to support their growth in the Florida Keys," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The Keys are a prominent Florida destination and this acquisition strengthens the firm's position to serve clientele across the region. Despite being impacted by the hurricanes earlier this year, Ocean Sotheby's International Realty has persevered to carry on a business-as-usual approach, and we wish them continued success."

Russell Post is the broker/owner of Ocean Sotheby's International Realty and will remain at the helm of the operation. Bob Cardenas, former broker/owner of the acquired office, will now serve as broker/owner at Ocean Sotheby's International Realty.

"This addition provides our company with greater exposure in Marathon and Key West and allows us to better serve clients in the middle and lower Keys," said Post. "We are proud to welcome Bob Cardenas and his team to our organization."

"Ocean Sotheby's International Realty is a well-known and respected company. We are thrilled to be joining this firm and look forward to the opportunity to connect our clients with the finest international network and premier level of worldwide exposure," added Cardenas.

The acquired offices are located at 420 Flemming Street in Key West and 12240 Overseas Highway in Marathon, and will complement the company's existing office at 81888 Overseas Highway in Islamorada. Post also owns and operates Russell Post Sotheby's International Realty which serves the Ocean Reef Community in Key Largo. With this addition, the Sotheby's International Realty® network now has 61 branded offices throughout the state of Florida.

The Sotheby's International Realty network currently has more than 21,000 affiliated independent sales associates located in 930 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. Ocean Sotheby's International Realty listings will be 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 clientele 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.

CONTACT

Lindsey Scharf
Director, Public Relations and Communications
Sotheby's International Realty Affiliates LLC
175 Park Avenue
Madison, NJ 07940
(973) 407-5596
Lindsey.Scharf@sothebysrealty.com