ST. GEORGE – Two independent real estate brokerage agencies recently combined to create the largest independent and locally-owned real estate group in Southern Utah.
Red Rock Real Estate announced its acquisition of Paragon Real Estate last week and celebrated the resulting merger Wednesday afternoon at the Red Rock Real Estate office on 100 South.
“It’s a great opportunity,” said Jack Scott, former principal broker of Paragon Real Estate who now acts as Red Rock Real Estate’s managing broker. “We’ve been poised to blend our people with other great people in the real estate business.”
Scott, who is also the president-elect of the Washington County Board of Realtors, said the merger brings the best of the best together for the benefit of their clients.
The merger brings 34 agents into Red Rock Real Estate, bolstering their numbers to over 110 agents, plus additional staff.
The agents are seasoned in their profession, said Allen Holland, Red Rock Estate’s principal broker, and provide their clients with ethical and professional service.
Along with Paragon’s additional agents, Holland said Red Rock will also benefit from marketing tools Paragon brings with it that will help reach the needs of a wide array of clientele within Southern Utah and internationally.
“Our established resources have allowed us to make a footprint in the Southern Utah real estate market,” Holland previously said in a news release. “Paragon Real Estate’s extensive industry knowledge brings a new dimension to our real estate services.”
“I couldn’t be happier,” he said Wednesday. “It’s going to be an unstoppable group.”
Through the merger, Scott said, they hope to also bring positive change to St. George by working with the city on issues related to zoning in order to make sure the kind of growth and development in the area is what people want to see in the community.
The merger of the two companies is a sign the housing market in St. George is alive and thriving, said Vardell Curtis, CEO of the Washington County Board of Realtors.
“It’s very interesting to me to see – coming out of the biggest recessions in our lifetime – how quick the Southern Utah market rebounded,” Curtis said. “I’ve been doing this for 20 years and I don’t think there’s ever been a better time to purchase a home with interest rates being as low as they are …. Now’s a great time to be in this market.”
If there is a challenge the housing market currently faces, it’s inventory, Curtis said. However, building of new homes appears to be picking up to meet demand, he said.
“You won’t see two companies merge like this in a down economy or a challenged market,” Curtis said. “To me it’s a very good indication of what we’re seeing in the market today.”
Both Paragon and Red Rock Real Estate opened about four years ago and enjoyed a friendly rivalry prior to their merger, Scott said.
“It was an opportunity to take something great and make it fabulous, and that’s the opportunity that was presented to us,” Scott said. “It was a natural marriage, if you will.”
Red Rock Real Estate, Red Rock Property Management and Red Rock Vacation Rentals have grown from one broker to well over 100 agents with the merger. It has also sold over $160 million so far this year, according to a news release.
Red Rock Real Estate also offers a luxury real estate division along with full service real estate needs in investment property, property management and vacation rentals through Red Rock Property Management and Red Rock Vacation Rentals.
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