HomeServices of America

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Berkshire Hathaway HomeService
IndustryReal Estate
Founded1998; 21 years ago (1998)
HeadquartersMinneapolis, Minnesota
ServicesBrokerage firm
Insurance
RevenueIncreaseUS$2.14 billion (2017)[1]
Total assetsIncreaseUS$7.02 billion (2017) [1]
OwnerBerkshire Hathaway
Number of employees
1600
ParentBerkshire Hathaway Energy

HomeServices of America 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.

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[edit]

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 Louisvile, 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]

References[edit]

  1. ^ a b "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.