Equitable Sotheby’s International Realty and Russ Lyon Realty Co. Merge
Posted on May 23rd, 2008 in Arizona, Business | No Comments »
Since 1947, Russ Lyon Realty has been synonymous with fine properties in Phoenix, Flagstaff, Prescott and Sedona, Arizona. On May 19th, 2008 another Arizona luxury real estate giant, Equitable Sotheby’s International Realty, merged with Russ Lyon Realty to become Russ Lyon Sotheby’s International Realty, one of the largest Sotheby’s real estate franchises in the world.
Equitable Sotheby’s International Realty is owned by John N. Vatistas, who is now co-owner and co-chairman of Russ Lyon Sotheby’s International Realty. His firm’s chief executive officer and designated broker, Dominic Scappaticci, will serve in the same capacity for the new company. Russ Lyon Realty Company’s Jim Lyon succeeds his father, Dennis Lyon, and is now co-owner and co-chairman of the new company. Todd Gillenwater, Russ Lyon’s current designated broker for its Northern Arizona operations, will serve as president.
ABOUT EQUITABLE SOTHEBY’S INTERNATIONAL REALTY
Equitable Sotheby’s International Realty was founded as Equitable Real Estate by John Vatistas in 2005 and quickly grew to become a significant force in the luxury resort corridor extending from Scottsdale and Paradise Valley north to North Scottsdale, Carefree and Cave Creek. It drew national press in October 2007, when it became the first Arizona real estate firm to become an affiliate of Sotheby’s International Realty.
ABOUT RUSS LYON REALTY COMPANY
Russ Lyon Realty Company has evolved from its beginnings in 1947, when it was founded by Russ Lyon, Sr., into a state-wide professional real estate company operating 10 offices in the Valley as well as four independently owned and operated franchises in Prescott, Sedona and Flagstaff, with total Company revenues exceeding $1.9 billion. More than 650 licensed sales associates provide real estate transactional services to more than 4,000 clients.
Dennis Lyon, son of Russell Lyon, Sr. and residing CEO of Russ Lyon Realty Company, attributes the company’s success to the sales associates’ utmost professionalism. He is succeeded by his son, Jim Lyon, who now represents the third generation of Lyons.
ABOUT SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications.
Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.

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