Sotheby’s International Realty Brand Opens First Office in Paraguay

Sotheby's International Realty Brand Opens First Office in Paraguay
December 9, 2020

NEW YORK, New York (MO.Properties) – Sotheby’s International Realty today announced that Raices Real Estate Group in Paraguay is the newest member of its global network and will now operate as Paraguay Sotheby’s International Realty. This addition marks the brand´s first affiliated office in the country and its continued strategic growth in Latin America, bringing its office count in the region to 26 in total.

Paraguay Sotheby’s International Realty is a family-owned and operated company managed by Ernesto, Aníbal, Jorge, and Yolanda Figueredo Coronel, who bring a combined more than 20 years of experience in the real estate industry in Paraguay and Latin America. The company is actively involved in the development of real estate projects and the growing interest for primary and vacation homes.

“The modern real estate market in Paraguay continues to grow,” said Philip White, president and chief executive officer, Sotheby’s International Realty. “The region is considered a central hub for South America with a number of connecting flights from major capitals, and we are seeing increased demand in the residential market as buyers seek high-end listings or vacation homes. The Figueredo Coronel family and their team have a great knowledge at the local and regional level, and we are proud to welcome them as a new affiliate.”

“Aligning our company with Sotheby’s International Realty enables us to provide an added level of international exposure to our different projects,” said Ernesto Figueredo. “Our company culture is built on innovation, high quality service, professionalism, technology, and excellence. It was important that we affiliate with a brand that values these same principles and one that actively works to highlight a property to tell its story, capturing the attention of prospective clients on both a local and international level.”

Paraguay Sotheby´s International Realty is located in Asunción. Paraguay Sotheby’s International Realty will serve the luxury and residential markets of Paraguay, such as Asunción and Gran Asunción, San Bernardino, Ciudad del Este, Encarnación and Pedro Juan Caballero, with 15 agents.

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. Paraguay Sotheby’s International Realty listings are marketed on the sothebysrealty.com 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. Each office is independently owned and operated.

Sotheby’s International Realty

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. Affiliates and agents also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.

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.