This morning all those in the Aspen real estate community woke up to a changed world: Morris and Frywald Sotheby;s International announced their merger with Chafin Light Real Estate, two of the largest brokerage firms in the Roaring Fork Valley.
ASPEN REAL ESTATE – “The merger of two of the foremost firms in the local Aspen Snowmass real estate market is more proof of local industry consolidation during this period of continued and exceptional market challenges. This trend is further substantiated by Mason Morse’s November 2011 merger with Coldwell Banker, the #1 real estate brokerage firm worldwide. At a certain point, any advantages of size, scale and technology would seem to peak and becomes less efficient as gross size itself becomes too big and unwieldy. After playing fields are leveled through consolidation with similar technology capabilities and worldwide marketing reach, this continues to be a business about relationships and the execution of exceptional service. As primitive and elementary as it seems, that still happens one broker at a time.“ Tim Estin
Here are the links to news articles on the merger:
“Giants of Aspen real estate merge“, Feb. 23, 12 AT
“Two valley real estate stalwarts announce merger“, Feb 23, 12 ADN
“Aspen Real Estate: Merger finalized between Chaffin Light, Morris and Fyrwald real estate firms”, Feb. 23, 12 ABJ