The acquisition expands the firm’s service areas to include eastern Utah, including the city of Moab and its surrounding area, the luxury brokerage announced Thursday.
Sotheby’s International Realty announced on Jan. 6 that it would be expanding its presence in Utah with the acquisition of local firm Byrd & Co. by its local independent affiliate. The real estate arm of the international auction house will now operate in Utah as Summit Sotheby’s International Realty.
The acquisition expands the firm’s service areas to include eastern Utah, including the city of Moab and its surrounding area, building upon Sotheby’s existing presence in Park City, Salt Lake City, Draper, and St. George, bringing their total number of offices to 14 with 250 salespeople.
As part of the acquisition, Sotheby’s will open an additional office in the heart of Moab’s downtown district, and several independent salespeople will join the team.
The expansion comes after Sotheby’s hit an all-time global sales record in 2020, marking a global sales volume of $150 billion. The firm is currently affiliated with over 1,000 offices in 77 countries, with over 25,000 independent salespeople.
With its stunning natural landscapes at nearby Arches and Canyonlands National Parks, Moab is popular among outdoor and arts enthusiasts.
“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.”