Sotheby's International Realty Expands its Presence in Germany

Baden-Württemberg Sotheby's International Realty will be owned and operated by Peter Schürrer and Bernd Fleischer and will serve the luxury residential real estate market in Stuttgart and the surrounding region, such as Mannheim, Heidelberg, Neustadt, and Baden-Baden. Bernd and Peter bring nearly 25 years of real estate experience to the company and 35 agents.

"Stuttgart is the sixth largest city in Germany and is renowned for its wealth, outstanding infrastructure, and strong economy," said Philip White, president and chief executive officer of Sotheby's International Realty. "The demand for real estate in Stuttgart's premium segment is correspondingly high and we couldn't be more excited to welcome Peter Schürrer and Bernd Fleischer and the Baden-Württemberg Sotheby's International Realty company to the network."

"As one of the leading real estate companies in Baden-Württemberg, we take great pride in distinguishing ourselves among buyers and sellers by providing top quality service," said Bernd. "Stuttgart and the surrounding region are an excellent choice for those seeking a mixture of provincial and cosmopolitan flair. Our affiliation with Sotheby's International Realty will further capture the attention of the higher-priced segment and showcase our listings on an international scale."

Baden-Württemberg Sotheby's International Realty has an office in the town of Stuttgart. Since the establishment of its charitable foundation in 2009, the company and its agents annually support regional Caritas association projects, which aims to support those in need. The company also sponsors sporting events to promote community involvement.

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. Baden-Württemberg Sotheby's International Realty listings are marketed on the Sotheby's Realty 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.

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 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 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.

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.