13 Jun 08 
Arizona Real Estate Companies Join Forces
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Luxury real estate firms—Russ Lyon Realty Co. and Equitable Sotheby’s International Realty—have merged to create a “powerhouse company”, according to Jim Lyon. Lyon, grandson to Russ Lyon Realty founder—Russ Lyon Sr.—is acting co-chairman on the joint venture.
The new company will conduct business as Russ Lyon Sotheby’s International Realty and will operate with nearly 1,000 agents that serve the Northeast Valley—Scottsdale and Phoenix, Sedona, and Flagstaff.
John Vatistas, co-chairman and founder of Equitable Real Estate in 2005, stated, “There is no sense in sugarcoating it, this is what we’re doing, we’re going to change things from top to bottom.”
Other notable members of the board include Dominic Scappaticci, chief executive, and Todd Gillenwater, president.
Speaking on the topic of Arizona’s current real estate market, Gillenwater said, “the market is dragging along the bottom, and nobody knows how long that is going to last. There is still a wide gap between what sellers and buyers think houses are worth.”
Tags: dominic scappaticci, equitable sotheyby's international realty, flagstaff real estate, jim lyon, john vatistas, northeast valley real estate, phoenix real estate, russ lyon, russ lyon realty co, russ lyon sotheby's international realty, scottsdale real estate, sedona real estate, todd gillenwater
