Sotheby’s International Realty Affiliates LLC announced it has signed an exclusive 25-year master franchise agreement with Michael Pallier to develop the Sotheby’s International Realty® brand in Australia’s New South Wales market. The company’s first office is set to open next month in Sydney, with additional offices due to open in 2013 and 2015.
The firm will operate as Sydney Sotheby’s International Realty, with Pallier serving as owner and managing director of the company. Pallier spent the last 11 years as a principal and the licensee of Raine and Horne Double Bay in Sydney, and was a top selling principal for the network.
The new Sydney Sotheby’s International Realty offices will focus exclusively on luxury homes, apartments and high-quality farm, ranch and land markets in New South Wales and the Australian Capital Territory.
“Sydney is a strategically important market for the brand and this signing represents a key step forward in our overall growth plans across Australia,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “Michael Pallier has built a team of seasoned executives with talent and expertise. Under his leadership, we are confident that Sydney Sotheby’s International Realty will bring quality service to clients in Australia and worldwide.”
“Sydney Sotheby's International Realty will provide owners of high-end luxury properties in New South Wales and the Australian Capital Territory the best tools to attract premium buyers from around the world and showcase their properties to a global audience,” said Pallier. “Clients of Sydney Sotheby's International Realty will have the ability to bring the world to their home. We strive to provide the very best in service and marketing for our clients, and we look forward to doing that with the Sotheby’s International Realty brand’s access to exceptional properties and exceptional people.”
Currently, the Sotheby’s International Realty network has more than 12,000 sales associates in approximately 625 offices throughout 44 countries and territories worldwide. Sydney Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.