As experts in the world’s most luxurious real estate, Sotheby’s International Realty has a worldwide presence, with more than 12,000 sales associates located in approximately 600 offices in more than 45 countries and territories worldwide. Sotheby’s places more than 7,500 referrals every year. Sotheby’s International Realty is a subsidiary of Sotheby’s, the international art auction house, which also owns Sotheby’s Diamonds, Sotheby’s Institute of Art, Sotheby’s Wine, and Sotheby’s Art Storage Facility.
Full Franchise Information
Sotheby’s International Realty franchisees benefit immensely from partnership with an association with a venerable, 250-year-old reputation worldwide. The Sotheby’s company supports its affiliate partners with a host of operational, marketing, recruiting, educational and business development resources.
Sotheby’s International Realty History
Sotheby’s Auction House, the original Sotheby’s company, was founded in 1744, and the Sotheby’s name has become renowned as a marketer of the world’s most valuable and fine products, based as much on exceptional service to clients as on the notable art, antiques, jewelry and other Sotheby’s holdings. Founded on the same commitment to exceptional service, Sotheby’s International Realty was founded in 1976 and quickly rose to worldwide prominence for the distinctive properties it represents. In 2004, Sotheby’s International Realty entered into a strategic alliance with Realogy Corporation, the world’s leading real estate brokerage franchisor, and began expanding through franchise partnerships. Within 10 months, Sotheby’s International Realty grew to more than 100 affiliated locations. Today the company has more than 600 offices in 45 countries and territories worldwide.
Sotheby’s International Realty Franchise Cost / Initial Investment / Income
The franchise fee for Sotheby’s International Realty is $25,000. The total investment to open and operate a Sotheby’s International Realty affiliate office ranges from $153,500 to $566,000. A royalty fee of 6% on gross receipts is paid to the company, in addition to a 2% advertising fee.
Sotheby’s International Realty was named Best in Category for Real Estate Franchisee Satisfaction by Franchise Business Review for the third year in a row in 2010. The Best in Category award measures franchisee satisfaction with their franchisors. Sotheby’s International Realty was also ranked third overall among all franchise categories with more than 200 locations.