Luxury Real Estate

By Janine Carey of Damianos Sotheby's International Realty

Nassau, Bahamas (March 10, 2009) —Damianos Sotheby’s International Realty, a luxury real estate firm based in Nassau, Bahamas, today announced that this month marks the fifth anniversary of the launch of the Sotheby’s International Realty network, of which it is a member.

“Five years ago, we made a commitment to build the quintessential luxury real estate franchise system in the world,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “We set the bar high and we have worked with passion and undying commitment to achieve our vision. I am proud that we have attracted and selected the most exceptional firms that make up our growing network.”

In February 2004, Realogy Corporation, a global provider of real estate and relocation services, 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, the acquisition of 15 company-owned offices and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Today, the brand has more than 10,700 sales associates located in more than 500 franchised offices in 39 countries and territories worldwide.

“It is very exciting to be part of a brand that has grown so much in just five short years. DamianosSotheby’s International Realty joined the network 4 years ago with the goal of providing our clients with a global reach,” said President, George Damianos. “Since that time, the brand has offered us that, as well as the differentiating factor we needed in our market.”

This month, the Sotheby’s International Realty brand also was ranked second on Franchise Times’ Fast 55 list, a ranking of the fastest growing franchises, published in the March 2009 issue. The Fast 55 list is compiled based on FRANdata research and is published by Franchise Times. According to the publication, in order to make the Fast 55 list a franchise company must meet two criteria: they must be a brand that has been franchising for five years or less and they must exhibit positive franchise unit growth for each year during this period.

Affiliations in the Sotheby’s International Realty 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 sothebysrealty.com.

Damianos Sotheby’s International Realty, serves the entire Bahamas and is headquartered in downtown Nassau with offices in Lyford Cay; Governor's Harbour and Spanish Wells Eleuthera; Marsh Harbour, Hope Town and Elbow Cay, Abaco; with associates in Treasure Cay, Abaco; Exuma, and Freeport, Grand Bahama. Damianos Sotheby’s International Realty Bahamas, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.

Damianos Sotheby’s International Realty’s main office is located at #75 Shirley Street, Nassau Bahamas and with Lyford Cay Sotheby’s International Realty located in the exclusive community of Lyford Cay.