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The brand’s latest conversion deepens its presence in Latin America.
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Sotheby’s International Realty has announced that Raices Real Estate Group in Paraguay will now operate as Paraguay Sotheby’s International Realty, making it the real estate brand’s first location in the country. In total, Sotheby’s operates 26 offices throughout Latin America.
“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.”
The new office will be owned and operated 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.
“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.”
To date, the Sotheby’s franchise network is made up of more than 23,000 affiliated independent sales associates, located in around 1,000 offices in 72 countries and territories worldwide.
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