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Sotheby's International Realty Snapshot
Sotheby's International Realty, founded in 1976 as the real estate services arm of renowned auction house, Sotheby's, has high-end appeal. From beach front villas in Morocco to châteaus in the Swiss Alps, the company brokers the sale and lease of luxury properties (most over $1 million) in 40 states and more than 35 other countries worldwide. Its network includes some 500 company-owned offices in certain key markets and franchised affiliations in most other markets. In 2004 NRT Incorporated, a subsidiary of Realogy, purchased the firm from Sotheby's for $100 million; the purchase agreement included provisions for NRT to continue using the venerable Sotheby's name for a licensing fee.
