Steamboat Sotheby’s International Realty announces ownership change
Current Sotheby’s Realty Affiliate owners Jeff & Olivia Hornig expand mountain town collective
Steamboat Sotheby’s International Realty, Steamboat’s highest volume and largest brokerage and a top performer in the Sotheby’s International Realty brand’s global network, announces that Jeff and Olivia Hornig have acquired the ownership interest of partners and Co-Owners Cam Boyd, Pam Vanatta, and David Baldinger Jr., taking complete ownership of the firm effective April 15th, 2021.
The Hornigs, who also own Jackson Hole Sotheby’s International Realty, Sun Valley Sotheby’s, and Lakes Sotheby’s in Minnesota stated that the buy-out will enable Brokers and clients to enjoy a broad-based and collaborative network, while at the same time maintaining Steamboat Sotheby’s local successes. Vanatta, Boyd, and Baldinger, Jr. have made a long-term commitment to the firm and will remain within the company as full-time Brokers for the foreseeable future.
Over the past 21 years, Steamboat Sotheby’s International Realty has grown into the most dominant real estate company in Steamboat Springs and one of the top real estate firms in Colorado. Vanatta and Boyd bought the Prudential Steamboat Realty office in 2000, later transitioning to Steamboat Sotheby’s International Realty in 2014. When Steamboat Sotheby’s merged with Steamboat Village Brokers in 2015, co-owned by Baldinger, Jr., Steamboat’s two longest-tenured brokerages became a real estate powerhouse of more than 80 Brokers at the time.
Between 2015 and 2021, the firm expanded its reach with the addition of multiple top Brokers, and expanded operations to three locations at Wildhorse Plaza, the Mountain Village, and Downtown Steamboat. Now with 89 Brokers, Steamboat Sotheby’s continues to be the leading real estate brokerage in Steamboat Springs, capturing nearly 40% of the market share in 2020 with just under $873 million in yearly sales volume and over 1,100 transactions.
New owners, Jeff and Olivia Hornig have over 40 years of combined real estate and financial management experience and have been owners within the Sotheby’s International Realty network for over 12 years, managing Brokerages in the Twin Cities, Minn., Jackson Hole, Wyo. and Sun Valley, Idaho. The couple has two children: a son Lleyton and a daughter, Shale.
Vanatta, Boyd, and Baldinger, Jr. have been managing Steamboat Sotheby’s as owners while simultaneously performing as top independent Brokers. Considering the significant effort, focus, and commitment that it has taken to grow Steamboat Sotheby’s over the past decades, Vanatta, Boyd, and Baldinger, Jr. felt it was time for new ownership to take the company to the next level of excellence. Ideally, this would be someone already in the Sotheby’s International Realty network.
Steamboat Sotheby’s International Realty has local roots that run deep, but with global reach that spans markets around the world. Steamboat Sotheby’s is proud to provide its clients with million-dollar marketing for properties at every price point with distribution across 1,000 offices and over 24,000 Brokers worldwide. With three offices and 89 brokers, Steamboat Sotheby’s has the largest market share in both volume of sales and units sold in the Steamboat Springs real estate market. https://www.steamboatsir.com/eng
“We felt that Jeff and Olivia, as established owners of other Sotheby’s International Realty affiliates, would be a good fit for us,” Boyd says. “Their offices are the best in their markets, and they are consistent with the quality of the Sotheby’s International Realty brand that we were looking for. Connecting with the luxury market in their Jackson and Sun Valley offices and the large referral network of the Lakes office will be a great benefit to Steamboat Sotheby’s,” Boyd continued. “Consolidation is happening everywhere in the real estate industry, and we felt that there would be a greater advantage for all of our Brokers to be part of a larger network.”
Vanatta, Boyd, and Baldinger, Jr. will continue to be full-time Brokers with Steamboat Sotheby’s. While no big changes to the firm are in the works, they will remain in leadership roles within the company as the Hornigs plan to listen and learn. “With the transition of ownership, it is unique to have new owners who are so closely aligned in terms of our company culture, our service model to clients, and similar top-tier experience as operators within the Sotheby’s network,” says Baldinger, Jr. “We are excited to continue working with Jeff and Olivia in a supportive advisory role as we also maintain and uphold our commitment to our clients.”
The local staff and management team will remain at the helm, including Jill Limberg as Managing Broker, Traci Moon as Operations Manager, Kelsey Harkins as Director of Marketing, and Doug Labor as General Manager of the Downtown Steamboat Sotheby’s office. The staff and Brokers were a primary focus in the transition.
“We couldn’t have asked for a better ownership group to take over Steamboat Sotheby’s,” says Vanatta. “The Hornigs are completely focused on our Brokers being the best they possibly can be and providing them with leadership and guidance in this ever-changing real estate industry. I’m excited about the future of the company and intend to work hard for years to come and continue to provide the best service for my buyers and sellers,” Vanatta concludes.
“We’ve always been so impressed with the Steamboat Sotheby’s organization and really admired the culture of the company,” Hornig says. “Lastly, we love the Steamboat community. We dreamed of someday being a part of it, and we can’t wait to get started.”
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