If you thought the Dallas-Fort Worth real estate market was hopping, then Austin’s luxury housing market is on a full rager. It’s only natural then that Dallas Cowboys tycoon Jerry Jones and his nephew Jerry Mooty Jr., @properties Christie’s International Real Estate CEO, are casting eyes and cash at ATX.
@properties Christie’s International Real Estate announced yesterday they are launching a new Austin affiliate this fall with Mooty as owner and operator. The new Austin affiliate will be operational by Nov. 1.
It’s familiar territory for Mooty, who launched the Dallas affiliate in mid-2021 and grew it from a three-person start-up as Dallas’ newest real estate brokerage to a tech-focused market leader with almost 80 agents in two years. Mooty thinks the Austin addition will open new listing opportunities for both markets.
“With our new office opening in Austin, we are excited to maximize the connection between the dynamic DFW and Austin markets, expanding opportunities for both our clientele and agents,” Mooty said. “We’re driven by the goal of delivering unparalleled service throughout Texas, so we have strategically positioned ourselves to leverage cutting-edge technologies with our extensive market knowledge.”
Partnering With a Veteran Austin Agent
Romeo Manzanilla joins the venture as Principal, Chief Operating Officer, and Broker of Record for this new firm. Most recently, Manzanilla led Texas operations for Compass Real Estate and previously served as the Broker in Charge at Realty Austin, where he oversaw the growth of the firm from 25 agents to a staggering 600. Not a stranger to challenge, Manzanilla served as President of the Austin Board of Realtors during the turbulent pandemic housing market and currently serves as a board member for Texas Realtors and the National Association of Realtors.
“I’m delighted to lead Christie’s International’s expansion into Austin,” Manzanilla said in a prepared statement. “As the gold standard in real estate, we’re eager to introduce this prestigious brand to Austin, enhancing the luxury real estate options for clients seeking to invest in the vibrant Austin community.”
The dynamic duo of Manzanilla and Mooty are already making strides, securing relocation commitments from several top-producing Austin agents who are eager to join their ranks. They’re looking to establish the Austin headquarters in a prominent Westlake/Barton Creek location. Mooty will help oversee Austin operations from his @properties Christie’s offices in Dallas and Frisco, located just down the street from The Star, the Dallas Cowboys practice facility and headquarters.
White Hot Austin
In recent years, Austin has experienced a remarkable surge in its housing market. Home prices in Austin have seen substantial appreciation, with median home values increasing more than 30 percent in the past five years. This growth can be attributed to several factors, including a thriving job market, a steady influx of tech companies, and a desirable quality of life.
Austin, of course, has been a tech hub since the 1980s and serves as the corporate or regional headquarters for globally recognized brands such as Dell, Apple, Facebook, IBM, and Tesla. But more recent relocations by Tesla and Oracle have turbocharged the market with cash-toting buyers from California.
The demand for homes in Austin has driven up property values, with a notable focus on modern, eco-friendly, and spacious living spaces. The city’s unique blend of culture, entertainment, and outdoor attractions continues to attract buyers from across the country, making Austin one of the hottest real estate markets in the United States.
Powered by @properties Christie’s International Real Estate
Agents and clients of the new firm will enjoy national and international exposure through the Christie’s International Real Estate network, which boasts affiliates in major U.S. markets as well as nearly 50 countries and territories including the United Kingdom, Italy, and Japan.
@properties Christie’s International Real Estate was born of a headline-making acquisition in Dec. 2021. The Chicago-based brokerage @properties acquired Christie’s International Real Estate business, the luxury real estate arm of the art auction house Christie’s, in December 2021. The iconic Christie’s auction house has captivated art collectors and luxury consumers worldwide since 1766. The partnership married the realms of high-end real estate with art and luxury goods, including jewelry, watches, handbags, wine, and spirits.
Since its acquisition, Christie’s International Real Estate has been on an expansion spree, adding market-leading independent brokerage firms in major U.S. markets such as Los Angeles, Miami, Atlanta, Chicago, and the San Francisco Bay. The company and its affiliated brokerages have recorded approximately $500 billion in real estate transactions over the last five years.
