PARSIPPANY, NJ and CABARETE, DOMINICAN REPUBLIC--(Marketwire - Feb 15, 2013) - Sotheby's International Realty Affiliates LLC today announced it has strengthened its presence in the Caribbean with the addition of Cabarete Dominican Republic Sotheby's International Realty to its luxury real estate network.
The firm is owned by William Holden, who first established Cabarete Lifestyle in 2004. The flagship Cabarete Dominican Republic Sotheby's International office covers the Cabarete region and the company plans to open a second office in Las Terrenas in the near future.
"The addition of Cabarete Dominican Republic Sotheby's International Realty to our luxury real estate network builds on the momentum we are experiencing throughout the Caribbean region, where in 2012 we expanded into Puerto Rico and the U.S. Virgin Islands," said Philip White, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "We look forward to further growth in this market under William Holden's leadership."
"The Dominican Republic is unique for a Caribbean country because it is such a large, easily accessible island, which is conducive to many different lifestyles in the areas within close proximity to the United States," said Holden. "The metropolitan areas contain some of the best hospitals and cultural areas in the world. Moreover, land, construction and operating costs are lower than most other parts of the world, and importantly, the legal and political system in the Dominican Republic has historically respected all home owners' property rights. We intend to further enhance the image of the Dominican Republic as a luxury real estate destination on an international scale through the brand's worldwide network of offices and the global contacts available through our association with the prestigious Sotheby's International Realty brand and the Auction House."
The Sotheby's International Realty® network currently has more than 12,600 sales associates located in approximately 650 offices in 45 countries and territories worldwide. Cabarete Dominican Republic 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.