Sotheby's International Realty Expands in Alabama

Rhea-AI Summary

Sotheby's International Realty announced the addition of LAH Real Estate, Inc. as LAH Sotheby's International Realty, expanding its presence in Alabama with a seventh office in Birmingham. The co-owners, Maurice Humphries, Tom Carruthers, Charles Robinson, Mike Graham, and Coke Williams, aim to provide top-tier real estate services. The Birmingham luxury market is reportedly growing, driven by a strong medical, research, and tech community. Sotheby's International Realty now has over 26,000 agents in 81 countries. LAH Sotheby's Realty listings will be featured on Sotheby's global website, enhancing exposure to potential clients.

Positive

• Expansion of network with LAH Sotheby's International Realty enhances brand presence in Alabama.
• Growing luxury market in Birmingham could lead to increased sales and market share.
• Affiliation with Sotheby's provides LAH Realty with global exposure and marketing resources.

Negative

• None.

NEW YORK, Feb. 22, 2023 /PRNewswire/ -- Sotheby's International Realty has announced that LAH Real Estate, Inc. has joined the network and will now operate as LAH Sotheby's International Realty. The addition marks the brand's continued growth in Alabama and its seventh office in the state.

The firm, co-owned by Maurice Humphries, Tom Carruthers, Charles Robinson, Mike Graham, and Coke Williams, will serve the city of Birmingham and the surrounding area, with offices in Homewood, Mountain Brook, and Hoover.

"The luxury market in Birmingham has seen tremendous growth, according to local records," said Philip White, president and CEO, Sotheby's International Realty. "The area is known for its medical and research community and growing tech presence with notable companies such as, Shipt, making Birmingham their home. We are thrilled to welcome LAH Sotheby's International Realty and the entire team to our global network and we look forward to putting the strength of the Sotheby's International Realty brand behind their business."

"Our mission is to be a company where clients and our associates always come first," said Humphries. "Our vision has always been to be the leading team of real estate professionals committed to quality service and results. Our affiliation with Sotheby's International Realty offers our firm unprecedented levels of support, as well as the opportunity for global exposure and recognition. We look forward to continuing to provide our clients with the highest level of service and expertise as a part of the Sotheby's International Realty family."

The company consists of 160 sales associates and currently operates four offices in the region.

The Sotheby's International Realty® network currently has more than 26,000 affiliated independent sales associates located in over 1,000 offices in 81 countries and territories worldwide. LAH 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 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 more than 1,000 offices located in 81 countries and territories worldwide, including 50 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered 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 Anywhere Real Estate Inc. (NYSE: HOUS) 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.

Media contact:
Melissa Couch,
melissa.couch@sothebys.realty

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/sothebys-international-realty-expands-in-alabama-301752862.html

SOURCE Sotheby's International Realty

FAQ

What is the significance of Sotheby's International Realty expanding in Alabama?

The expansion signifies growth in the brand's presence and potential for increased market share in the luxury real estate market of Alabama.

When did Sotheby's International Realty announce the addition of LAH Real Estate, Inc.?

The announcement was made on February 22, 2023.

What benefits will LAH Sotheby's International Realty gain from joining the network?

LAH Sotheby's will benefit from enhanced global exposure, access to marketing resources, and referral opportunities through Sotheby's International Realty's extensive network.

How does the Birmingham luxury market impact Sotheby's International Realty's strategy?

The growth of the luxury market in Birmingham may enhance sales opportunities, aligning with Sotheby's strategy to capitalize on emerging markets.

What is the stock symbol for Sotheby's International Realty's parent company?

The stock symbol for Sotheby's International Realty's parent company, Anywhere Real Estate Inc., is HOUS.