HomeServices of America

Berkshire Hathaway Home Services is a residential real estate services company. The company provides real estate brokerage services, mortgage loan origination, franchising, title insurance/escrow and closing services, home warranties, property insurance, casualty insurance, and relocation services.

Berkshire Hathaway Home Services
IndustryReal estate
Founded1998 (1998)
HeadquartersMinneapolis, Minnesota
ServicesBrokerage firm
Insurance
RevenueUS$2.14 billion (2017)[1]
Total assetsUS$7.02 billion (2017) [1]
OwnerBerkshire Hathaway
Number of employees
1600
ParentBerkshire Hathaway Energy

The company's real estate brokerage division operates under 43 brand names, which are listed on its website.[2]

A HomeServices of America in Gillette, Wyoming

History

The company traces its roots to Amerus Home Services Inc.

In 1998, Amerus Home Services was acquired by MidAmerican Energy Holdings Company.[3][4][5]

In 1999, MidAmerican renamed its brokerage business HomeServices and acquired Semonin Realtors, operating in Louisville, and Long Realty, operating in Arizona.[6][7]

In 1999, Berkshire Hathaway acquired MidAmerican Energy Holdings Company.[8][9]

In 2012, the company acquired real estate brokerage firms from Prudential and Real Living.[10][11]

In August 2013, the company acquired Prudential Fox & Roach, Realtors®/Trident Group.[12][13][14]

In November 2013, the company acquired Prudential Rubloff Properties, operating in the Chicago area.[15]

In May 2014, the company acquired Intero Real Estate Services, operating in Silicon Valley.[16][17][18]

In July 2015, the company acquired Prudential Centennial Realty, operating in Westchester County,[19] and First Weber, the largest residential brokerage in Wisconsin.[20][21]

In January 2017, the company acquired Houlihan Lawrence, the largest residential brokerage in Westchester County.[22][23]

In April 2017, the company acquired Gloria Nilson & Co. Real Estate, a residential brokerage in New Jersey.[24][25] The company also formed a strategic alliance with Juwai.com, China's largest overseas property portal offering access to high-net-worth individual Chinese buyers looking to purchase homes.[26][27]

In June 2017, Robert Moline, president of the company, retired.[28]

In September 2017, the company acquired Long & Foster.[29][30]

In 2018, the company acquired North Texas real estate firm Ebby Halliday.[31]

References
  1. "2017 Annual Report" (PDF). HomeServices of America. 2017. Retrieved 12 November 2018.
  2. "HomeServices of America, Inc | A Berkshire Hathaway Affiliate". www.homeservices.com. Retrieved 2019-04-23.
  3. SALPUKAS, AGIS (April 7, 1998). "MidAmerican to Buy Real Estate Group". The New York Times.(subscription required)
  4. Kerch, Steve (May 24, 1998). "What America's Homes Need Is A Conglomerate". Chicago Tribune.
  5. "Edina Realty sold to energy company". American City Business Journals. April 6, 1998.
  6. Dooley, Tom (2011-04-28). "Industry Watch: HomeServices.com Moves into the Spotlight". Realtor Magazine. Retrieved 2019-07-10.
  7. "Long Realty acquired". Phoenix Business Journal. Retrieved 2019-07-10.
  8. Lipin, Steven; Miller, James P. (October 25, 1999). "Investors Led by Buffett to Buy Iowa's MidAmerican Energy". The Wall Street Journal.(subscription required)
  9. "Buffett gets energetic". CNN Money. October 25, 1999.
  10. "Warren Buffett buys Prudential real estate unit". Associated Press. USA Today. October 30, 2012.
  11. Sichelman, Lew (September 20, 2013). "Berkshire Hathaway to shake up real estate franchise landscape". Los Angeles Times.
  12. "HomeServices of America, Inc. Announces Acquisition of Prudential Fox & Roach, Realtors®/Trident Group" (Press release). Business Wire. August 14, 2013.
  13. Kostelni, Natalie (November 12, 2013). "Fox & Roach finally gets its new name". American City Business Journals.
  14. Simpson, Jake (August 15, 2013). "Berkshire Hathaway Unit Buys RE Broker Prudential Fox". Law360.
  15. "HomeServices of America, Inc. Announces Acquisition of Prudential Rubloff Properties" (Press release). Business Wire. November 12, 2013.
  16. "HomeServices of America, Inc. Announces Acquisition of Silicon Valley–based Intero Real Estate Services" (Press release). Business Wire. May 13, 2014.
  17. Donato-Weinstein, Nathan (May 13, 2014). "Done deal: Buffett's Berkshire finalizes acquisition of Intero to cash in on Silicon Valley". American City Business Journals.
  18. Buchta, Jim (May 13, 2014). "HomeServices buys Silicon Valley real estate brokerage". Star Tribune.
  19. "Berkshire Hathaway HomeServices New England Properties Acquires Westchester County Brokerage Leader" (Press release). Business Wire. July 1, 2015.
  20. Buchta, Jim (July 28, 2015). "HomeServices of America buys First Weber, biggest brokerage in Wisconsin". Star Tribune.
  21. Schiffman, Betsy (November 17, 2015). "Warren Buffett Can't Buy Real Estate Agencies Fast Enough". Forbes.
  22. Stempel, Jonathan (January 17, 2017). "Berkshire Hathaway unit buys big NYC-area real estate firm". Reuters.
  23. Hall, Miriam (January 19, 2017). "Berkshire Hathaway is betting big on New York — will it work?". The Real Deal.
  24. "HomeServices of America® Announces the Acquisition of Gloria Nilson & Co. Real Estate" (Press release). Business Wire. April 4, 2017.
  25. Reilly, Mark (April 5, 2017). "HomeServices' latest deal takes it to Jersey Shore". American City Business Journals.
  26. "Berkshire Hathaway HomeServices Signs Marketing Agreement with Juwai.com, China's Largest International Property Portal" (Press release). Business Wire. April 17, 2017.
  27. Stempel, Jonathan (April 17, 2017). "Buffett's Berkshire, Chinese property website Juwai.com team up". Reuters.
  28. "HomeServices of America® Announces Executive Retirement" (Press release). Business Wire. June 21, 2017.
  29. "HomeServices of America® Acquires The Long & Foster Companies" (Press release). Business Wire. September 7, 2017.
  30. Gilgore, Sara (September 7, 2017). "Long & Foster acquired by Buffett affiliate HomeServices of America". American City Business Journals.
  31. "It's Official, Warren Buffett Buys Ebby Halliday Companies". Archived from the original on 25 August 2019. Retrieved 9 June 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.