Press Release:
Sotheby’s International
Realty Acquires
Teton Village Realty in
Jackson Hole, Wyo.
Market Leader Acquires Fastest Growing Local Firm
to Expand Presence in Teton County
Jackson Hole, Wyo. (May 13, 2009) – Sotheby’s
International Realty, Inc., a residential real estate brokerage firm
representing fine properties in some of the world’s most sought-after markets,
today announced it has acquired the assets of Teton Village Realty in Jackson
Hole, Wyo. Teton Village Realty, specializing in properties at the Jackson Hole
Mountain Resort and surrounding areas, will now operate as Sotheby’s
International Realty, Inc. The Teton Village Realty
offices, located in the Teton Mountain Lodge and Hotel Terra at the Jackson
Hole Mountain Resort, will complement Sotheby’s International Realty’s existing
offices in Jackson Hole and Driggs, Idaho.
Clayton Andrews, executive vice president and COO of the Mountain Region for Sotheby's International Realty, Inc. who leads the company's Jackson Hole operations, will also manage the new offices.
The
acquisition expands Sotheby’s International Realty’s footprint in Jackson Hole
and shows the firm’s commitment to serving clients throughout Teton County.
Since first opening in Jackson Hole in 1999, Sotheby’s International Realty acquired
Jackson Hole Realty in 2003. Since then, Sotheby’s International Realty has been the
market leader in sales volume, according to the Teton Board of Realtors MLS.
After its founding in 2003, Teton Village Realty became the fastest growing brokerage in Teton County, achieving the third highest market share in the Teton MLS each year from 2005 to 2008. Teton Village Realty sales associates, including owner Rob DesLauriers, will now operate as agents of Sotheby’s International Realty, Inc.
According to Andrews, Teton Village Realty is an ideal fit with Sotheby's International Realty, based on its historical performance as well as its office locations. “As a relatively young and fast growing firm, Teton Village Realty offers a fresh perspective on the local real estate market,” said Andrews. “Rob DesLauriers is well known and respected at the Jackson Hole Mountain Resort, and his firm’s experience in development sales at Teton Village is unmatched. We are pleased to be gaining such a dynamic and talented team at a pivotal time in our market.”
"It's exciting to be part of the Sotheby's
International Realty organization,” said DesLauriers. “We appreciate the
company's successful history and expertise in the valley. We have a long and
productive working relationship with the firm's local team, and our agents and
clients will benefit from the enhanced regional and global presence as well as the
referral opportunities the company offers." DesLauriers continued, “Sotheby's
International Realty provides a strong and far-reaching platform from which we
can continue to grow and leverage the synergies of our firms."
About 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 and represents fine properties at a
range of price points. Today, Sotheby's International
Realty, Inc. operates brokerage offices in key metropolitan
and resort markets, including London; Manhattan; the Hamptons;
Westchester County, Greenwich, Conn.; Litchfield County, Conn.; Cape Cod; Palm Beach, Fla.; Beverly Hills; Brentwood;
Pasadena; Santa Barbara; San Francisco; Sonoma;
Monterey Peninsula; Sun Valley, Idaho; Santa Fe, New Mexico and Jackson Hole, Wyo.
Sotheby's International Realty, Inc. (www.sothebyshomes.com)
is part of NRT LLC, the nation's largest residential real estate brokerage
company, and a member of the Sotheby’s International Realty® network
that spans 39 countries. NRT, a subsidiary of Realogy Corporation,
operates Realogy's company-owned real estate brokerage offices.
CONTACT:
Andrew Wood
Sotheby’s International Realty, Inc.
+1 212.606.4167
Noelle Dean
Edelman for
Sotheby’s International Realty, Inc.
+1 212.704.4484
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