Minneapolis, Minn. (January 9, 2013) – HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Guarantee Real Estate, one of central California’s largest and most respected residential real estate brokerage firms.
Headquartered in Fresno, Guarantee serves central California with more than 400 sales associates in 13 offices located in Fresno, Clovis, Prather, Shaver Lake, Reedley, Kingsburg, Dinuba and Visalia. Guarantee has held the No. 1 market share for more than 20 years and, in 2011, closed more than 3,700 units and $634 million of volume.
Originally founded in 1919, Guarantee has a long-standing reputation for providing clients with the highest level of customer service, expertise and resources. As co-chairmen, Joan Eaton and Paul Gibson will remain in their current roles leading strategic planning and growth initiatives and J. Scott Leonard will continue in his role as president and CEO. Together, they will continue to manage the day-to-day operations along with their sales management and leadership teams. The three have been widely recognized for both their community involvement and their leadership.
HomeServices is the second-largest, full-service residential real estate brokerage firm and the largest brokerage-owned settlement services provider in the U.S. The acquisition represents HomeServices’ expansion of their presence in California and their entry into the Fresno market. With this acquisition, HomeServices has 27 brands and more than 16,000 real estate professionals operating in 21 states. In 2012, HomeServices closed nearly $42 billion in sales volume, over 145,000 transactions and closed approximately $4 billion in home mortgages. HomeServices’ growth strategy focuses on identifying market-leading companies that have established deep and enduring reputations within their community and long-standing traditions for excellence.
“This transaction makes one of the premier firms in central California an even stronger organization,” added Leonard. “By joining forces with HomeServices, we will be unmatched in our ability to serve the real estate needs of new and existing clients in the Fresno area.”“Guarantee has been a valued partner to HomeServices within the Realty Alliance, and through the years, we have shared many ideas and successes. They are a strong company with an excellent reputation in a growth market,” said Ron Peltier, chairman and CEO of HomeServices. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”
“We are proud to be part of HomeServices of America,” noted Eaton. “We are joining an organization known for its strength and stability; one that is consistent with our high standards of service, integrity and community involvement, making this a win/win for our customers and our brokers.”
“We are excited to be in Fresno and are looking forward to having Scott, Joan, Paul and their teams join the HomeServices family,” concluded Peltier.