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In a shifting real estate industry, RE/MAX Peaks Properties and Re/Max Fine Properties merge in Flagstaff

ReMax Joining Forces

Andrew Meyer, left, and Jamie Wong stand in front of the RE/MAX office on Riordan Road Friday afternoon. Last month, RE/MAX Peak Properties was absorbed by RE/MAX Fine Properties in the face of outside threats such as Zillow. 

It’s getting harder for the little guy to compete.

That was the message from Andrew Meyer regarding the recent merger of RE/MAX Peak Properties and RE/MAX Fine Properties in October.

Meyer had been the sole owner and broker for Peak Properties for the last 18 years. But he said a changing real estate industry and the introduction of larger online companies into the market spurred the decision to join with Fine Properties.

Fine has had a real estate office in Flagstaff for some time, but also has offices across the state.

“We're just seeing radical change in the real estate industry,” Meyer, who is now a partner with Fine Properties, told the Arizona Daily Sun.

Companies like Zillow and Open Door are quickly reshaping how many sellers and buyers look at real estate, Meyer said.

Those kinds of companies can bring millions of dollars to bear on things like marketing that a local real estate firm simply doesn’t have the resources for, said Fine Properties partner Jamie Wong. And that is making it significantly more difficult for smaller “mom and pop” shops to stay viable, she said.

A good metaphor might be that of the local hardware store when the new Home Depot opens up, Wong said. That is the threat of companies like Zillow, and the decision for Fine to absorb Peak Properties was in part a way to respond to it.

“So with that reality, that’s becoming our competition, more so than even the local competing real estate brokerages. So for us to compete we have to become larger entities that are offering more services, better customer experiences, local experts, just to compete with the that industry shift,” Meyer said. “I think everyone really sees the vision and understands that it’s in everyone’s best interest to have one RE/MAX team in Flagstaff.”

Wong said the merger has been something she has hoped for and worked toward for some time. And Wong said by joining forces, Meyer and his team now get all the benefits offered by a larger statewide agency such as Fine Properties, which had $1.8 billion in sales last year and is on track to exceed $2 billion in 2021.

“We can take all of the tools that are mainstream in the Valley [real estate market] but often don’t get to Flagstaff, and we can help the agents here up their game. Meaning: we have a full-time marketing department; no one else has that. We have a full-time videographer; no one else has that,” Wong said.

Still, Meyer said it is a little hard to see Peak Properties, which has been solely his for nearly two decades, be absorbed into something larger. But Meyer said it is a change he is excited about.

“We knew in our hearts that us working together as one would be better for everyone, better for the brokerage, better for the agent, better for the home seller and home buyer and becoming a better option than these large funded entities like Zillow. They don’t have local expertise,” Meyer said.

Adrian Skabelund can be reached by phone at (928) 556-2261, by email at askabelund@azdailysun.com or on Twitter at @AdrianSkabelund. 

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