Luxury Outlook 2022
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Sotheby’s International Realty today announced that its independently owned and operated affiliate, Summit Sotheby’s International Realty in Utah, has acquired local firm, Byrd & Co., which has achieved more than $325 million in sales revenue since its inception. The company will now operate as Summit Sotheby’s International Realty.
The merger expands the firm’s service areas to include the city of Moab and the surrounding communities of Eastern Utah. The company’s footprint builds upon its existing locations in Park City, Salt Lake City, Draper, and St. George, and now consists of a total of 14 offices and more than 250 independent sales associates.
“Known for its dramatic red rocks, world-renowned national parks, and an unmatched outdoor lifestyle, Moab has emerged as a desirable location,” said Philip White, president and CEO of Sotheby’s International Realty. “Buyers continue to seek primary and vacation properties in locations that are near nature and align with their lifestyles. Over the past 13 years, Thomas and his team have achieved notable success and this strategic acquisition further positions Summit Sotheby’s International Realty to continue to provide unparalleled service to clients seeking a home in Utah.”
“We could not be more excited to bring the iconic Sotheby’s International Realty® brand to Moab,” said Thomas Wright, president of Summit Sotheby’s International Realty. “Having the opportunity to work with clients in this special corner of Utah is a privilege and responsibility – one that we do not take lightly. All of us at Summit Sotheby’s International Realty look forward to being a vital partner of the Moab community, its visitors, and residents for years to come.”
As part of the merger, the company will open an additional office and several independent sales associates will join the team, uniting Byrd & Co.’s respected local standing with the Summit Sotheby’s International Realty firm’s award-winning real estate services. The firm’s new location will be located at 59 E Center Street in the heart of Moab’s vibrant and artistic downtown.
The Sotheby’s International Realty network currently has nearly 25,000 affiliated independent sales associates located in more than 1,000 offices in 77 countries and territories worldwide. In 2020, the brand achieved a record global sales volume of $150 billion USD. Summit 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.