The luxury network’s new office in the state of Utah will help provide crucial referrals to clients in feeder markets where Christie’s has an existing presence, Inman has learned exclusively.
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Luxury brokerage Christie’s International Real Estate has partnered with top agents in Park City, Utah, to launch a new office in the state, the firm has informed Inman exclusively.
Christie’s International Real Estate Park City will be owned and managed by Sam Cubis, Ben Fisher, Molly Crosswhite, Rachel Retzer, Matt Magnotta and Ace Allak. Cubis, Fisher, Crosswhite and Retzer all come to Christie’s from Summit Sotheby’s International Realty, while Magnotta joins the firm from Berkshire Hathaway HomeServices Utah Properties. Allak was previously a real estate developer and mortgage banker with Peoples Home Equity.
“We are proud to partner with a truly impressive team of local real estate professionals to open Christie’s International Real Estate in Park City,” Thad Wong, co-CEO of Christie’s International Real Estate, said in a statement. “This is a powerhouse group, each incredibly talented and respected within Park City’s real estate market, and committed to luxury client service and innovation.”
Previously, Christie’s International Real Estate had an affiliate in Park City/Salt Lake City called Jess Reid Real Estate, which was acquired by Windermere in 2019. Since then, the firm has not had an office in Utah.
Combined, the firm’s founding agents closed more than $340 million in transactions in 2022. Their experience expands beyond Park City to nearby Deer Valley, and also features new development sales. The office will be located at 1790 Bonanza Drive and will feature 10 agents, including the founders.
“We aspire to build the best real estate brokerage in Park City and the surrounding region, and Christie’s International Real Estate gives us the ultimate roadmap to realize that vision,” Cubis said in a statement.
“Not only is the brand recognized around the world as the global authority in luxury real estate, but it’s also a driving force for innovation in the industry, with its technology, marketing and forward-thinking approach to client service. There is nothing like Christie’s International Real Estate’s tech in the local market.”
Park City has become a top luxury destination for ski and mountain enthusiasts in the past few decades. The median home price in Wasatch and Summit Counties is $1.3 million, according to Christie’s International Real Estate, and the Park City office’s founding agents’ average transaction price exceeds $2 million.
A new ski resort called Mayflower Mountain Resort, developed by Extell, is set to open in the area in 2025, and will add hundreds of high-end properties to the area in the coming years, in addition to 4,300 acres of skiable terrain, shops and restaurants.
The area has traditionally been thought of as a winter destination, but more year-round residents have flocked to the region in recent years because of the ample opportunity for outdoor recreation during all seasons.
As a popular destination among Christie’s existing clients in other markets — like Los Angeles, San Francisco Bay Area, Dallas and Chicago — Wong said the positioning of Christie’s International Real Estate Park City will be crucial for referrals.
“Park City opens up valuable referral opportunities for our affiliates and agents and gives their clients the confidence of knowing they’re receiving the same high level of service they’re used to,” he said.
The luxury network also recently welcomed a new affiliate in Austin, Texas.
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Email Lillian Dickerson