Sotheby’s International Realty Expands its Presence in Ohio

Sotheby's International Realty today announced that, with the opening of Elite Sotheby's International Realty, its presence in Ohio is expanding. The addition marks the continued growth of the brand in the state and its third Ohio affiliated company. Ken Schmidt and Mike Schmidt are the owners of Elite Sotheby's International Realty and will be headed by Managing Broker Joanne Zettl, who together bring the company more than a century of combined real estate experience. Located in the town of Pepper Pike, Elite Sotheby's International Realty will serve the residential and luxury property markets in the Greater Cleveland area.

“The North Coast of Lake Erie has a long history of luxury neighborhoods and grand properties,” said Philip White, president, and CEO of Sotheby’s International Realty. “Luxury real estate represents the top 10% of the market and the area is seeing increased interest from local buyers migrating back to Ohio from other Midwest cities and east metropolitan markets. Our affiliation with Elite Sotheby’s International Realty marks the brand’s expanding presence in the region and we are pleased to welcome them to our network.” “The Greater Cleveland area is home to a number of attractions including the second-largest performing arts center in the country and the Lake Erie shoreline,” said Mike Schmidt. “We are seeing increased interest in our market from buyers looking to capitalize on space while still having access to arts and culture. Our affiliation with Sotheby’s International Realty enables us to reach a broader international audience and further enhances our existing marketing efforts thanks to the brand’s innovative virtual reality tools and marketing platforms.”

Elite Sotheby's International Realty has a single office in the area with plans for continued growth.

The business is actively involved in the local community, previously supporting the Children's Hospital of the Cleveland Clinic and various community efforts.

There are currently more than 23,000 affiliated independent sales associates in the Sotheby's International Realty® network, located in approximately 1,000 offices in 72 countries and territories worldwide. On the global website sothebysrealty.com, Elite Sotheby's International Realty listings are marketed. In addition to the referral opportunities and wider exposure generated from this source, brokers and customers of the company will benefit from a partnership with Sotheby's auction house and Sotheby's International Realty worldwide.

Programs for marketing. Each office is owned and operated independently.

As a real estate service for discerning Sotheby's auction house customers, Sotheby's International Realty was established in 1976. Today, the global footprint of the company spans approximately 1,000 offices in 72 countries and territories worldwide, including 45 brokerage offices owned by the company in key metropolitan and resort markets. Realogy entered a list in February 2004,

A long-term strategic alliance with Sotheby's, the auction house's operator. The contract provided for the licensing of the name of Sotheby's International Realty and the creation of a franchise system. The franchise system consists of an affiliate network, where each office is owned and operated independently. The International Realty of Sotheby's supports its affiliates and

Agents with a host of resources for operational, marketing, hiring, educational, and business development. An association with the venerable Sotheby's auction house, established in 1744, also benefits affiliates and agents. Visit www.sothebysrealty.com for more information.

Sotheby's International Realty Affiliates LLC operates the affiliate network and the company-owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of the global leader in real estate franchising, Realogy Holdings Corp. (NYSE: RLGY), a provider of real estate brokerage, relocation and settlement services. Both of the

The principles of the Fair Housing Act and the Equal Opportunity Act are fully supported by Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc.