New Study: Proposed Change to Commission Structure Threatens Equitable Access to Housing

Minneapolis (July 11, 2022) – A new study has found that requiring prospective homebuyers to pay real estate agents directly out of pocket would significantly suppress home buying opportunities for large segments of the population. “Be Careful What You Ask For: The Economic Impact of Changing the Structure of Real Estate Agent Fees,” illustrates how the changes would most significantly affect Black, Hispanic/Latino, first-time, and low- and middle-income buyers. The independent study was requisitioned by HomeServices of America as part of the company’s ongoing efforts to support equity in home buying.

In recognition of housing inequity and the homeownership gap, HomeServices of America began work in early 2019 to establish a foundation whose mission is to increase homeownership among Black homebuyers and other potential homebuyers of color. In 2021, the HomeServices Foundation for Housing Equity was officially established. While some favor changing the decades-old practice of listing brokers offering commissions to buying brokers in home sales, it appeared that this proposed change could severely impact the homebuying abilities of the people the Foundation was created to help. Given the possible negative impact to homebuyers, HomeServices of America requisitioned an independent study to evaluate its concerns about the proposed change.

Authored byFreddieMac alum Ann Schnare, National Association of Credit Management Chief Economist Amy Cutts andGeorge Washington University Business Professor Vanessa Perry, the study created an economic model that proves the detrimental outcomes for consumers and the broader U.S. economy that would likely result from changes to how agent fees are currently paid. 

“Changing the current compensation structure could affect potential buyers’ ability to qualify for a mortgage and purchase a home,” said lead author Schnare. “Requiring buyers to pay their agent’s fee directly would result in reduced homeownership opportunities for cash-constrained families and lower net proceeds for many sellers. These outcomes would create negative ripple effects across the entire housing market.”

Key study findings regarding decoupling commissions include:

  • The greatest harm would be to first-time, low-income, middle-income and racially underrepresented buyers. A significant segment of the housing market would likely be negatively affected by decoupling commissions. Overall U.S. homeownership rates, particularly among non-white buyers, would decline. Assets required to purchase a $250,000 home would increase from roughly $16,250 to $23,015.
  • Decoupling commissions would harm the entire economy. The demand reduction that would likely occur at the lower price points of the housing market could easily spill into other segments of the market. If a significant portion of potential buyers are already cash constrained, changing the current compensation structure by requiring buyers to pay more up-front would inevitably lead to a reduction in market demand.
  • Commissions would not be able to be included in mortgages. Lenders, mortgage underwriters and appraisers would face significant challenges in determining the appropriate amount of buyer broker commission allowed to be included within the financing of a home.Federal regulations limit how much of the total purchase price buyers can finance, meaning some buyers could no longer qualify for a loan while others would have to pay additional fees per month in mortgage insurance.

The study estimates that the median price that potential first-time homebuyers can afford to pay for a home is roughly $294,000. Altering how commissions are paid, however, would limit the purchasing power of these households. Even if buyers were able to negotiate a 1.5% fee, for example, they would be able to spend $33,450 – or 12% – less on a home if they had to pay these fees up front, out of pocket.

Such changes could prove disastrous in a housing market that is already creating significant barriers for potential homebuyers. Since 2019, home prices have risen nearly 30% ($80,000 for a typical home), while inventory is down 57% over the same period. Homeownership opportunities for American families also have diminished as mortgage rates rise and investors become more heavily involved in the private property market, leading to fewer available properties.

Any such changes to commissions, as the study notes, could have the most pronounced impact on Black homebuyers. Homeownership rates for white homebuyers have remained above 70% since 2017, while rates for Black homebuyers have struggled to exceed 40%. Approximately half of all homes currently listed for sale are affordable to households with at least $100,000 income, but just 35% of white households and 20% of Black households in America exceed this annual threshold.

The findings of the study refute unfounded allegations or suggestions that consumers are disadvantaged by how commissions are currently paid.

“Almost 9 out of every 10 homebuyers use a mortgage to finance the purchase of their primary residence, and many of these buyers face significant hurdles in acquiring the upfront cash to cover down payment and closing costs,” said Dana Strandmo, Chief Administrative Officer at HomeServices of America. “These cash constraints are more prevalent among first-time homebuyers and racial minority groups. That is a factor that must be considered in any conversation about changing how buyers’ agents are typically compensated.”

HomeServices of America funded this study. The authors conducted their research independently, and the opinions expressed, and findings are theirs. For the full study, go to: Be Careful What You Ask For: The Economic Impact of Changing the Structure of Real Estate Agent Fees

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HomeServices of America® Announces the Acquisition of Berkshire Hathaway HomeServices New Jersey Properties

Acquisition expands HomeServices’ footprint in the New Jersey
real estate market

Minneapolis, Minn. (June 2, 2022) – HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced that it has acquired Berkshire Hathaway HomeServices New Jersey Properties, one of New Jersey’s leading residential real estate companies, and its affiliated title company — Associated Title Agency. Financial terms of the transaction were not disclosed.

Headquartered in Martinsville, New Jersey, Berkshire Hathaway HomeServices New Jersey Properties serves northern and central New Jersey with 19 locations and more than 600 agents. The company, owned by Bill Keleher, Chris Brown, Steve Janett, and Nancy Litwin, joined the Berkshire Hathaway HomeServices franchise network as an independent franchisee in 2014 and, with this transaction, now joins the family of HomeServices of America’s wholly owned companies. The full-service brokerage offers residential and commercial services as well as title and settlement services, leasing and property management, corporate relocations, luxury and investment properties, and home-warranty services. In 2021, the company closed nearly 3,900 transactions and $2.25 billion in sales volume. The company is ranked in the Top 5 largest brokerage firms in New Jersey and is among the top-20 brokerages nationwide in the Berkshire Hathaway HomeServices franchise network.

Bill Keleher, chairman and CEO, Chris Brown, president, and Steve Janett, chief operating officer, are well known for their industry expertise and leadership and are among real estate’s most recognized and influential leaders. Keleher, Brown, Janett, and their management team will continue to lead Berkshire Hathaway HomeServices New Jersey Properties’ strategic planning and growth initiatives as well as manage the company’s day-to-day operations.

“Nancy, Steve, Chris, and I are honored and excited to join HomeServices,” said Keleher. “HomeServices is an outstanding organization with a world-class portfolio of real estate brands and an experienced leadership team. Becoming a member of the HomeServices’ family of companies gives us a unique opportunity to grow and better serve our customers, sales professionals, and employees.”

“Bill, Chris, Steve, and Nancy, together with their leadership team, managers, agents, and employees have demonstrated a longstanding commitment to providing exceptional service to their buyers and sellers and have built an extraordinary company,” said Gino Blefari, CEO of HomeServices. “We are committed to Berkshire Hathaway HomeServices New Jersey Properties’ continued growth and success, and we are proud to welcome them to the HomeServices family.”

The acquisition further expands HomeServices’ presence in New Jersey, which includes Berkshire Hathaway HomeServices Fox & Roach, REALTORS® and Long & Foster Real Estate, which HomeServices acquired in 2013 and 2017, respectively. With this transaction, HomeServices has nearly 46,500 real estate professionals operating in nearly 925 offices across 33 states.

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HomeServices of America Acquires Ownership Stake in Title Resources Group

DALLAS, Texas – May 3, 2022 – Title Resources Group (“TRG” and the “JV”), one of the nation’s leading title insurance underwriters, today announced that HomeServices of America (“HomeServices”) is acquiring a minority stake in TRG. Financial terms were not disclosed. HomeServices, an affiliate of Berkshire Hathaway, is the nation’s largest residential real estate company, based on closed transactions.

HomeServices is joining TRG’s other major shareholders, Centerbridge Partners, L.P. and Realogy Holdings Corp., in participating in the JV. The expanded roster of joint venture partners will be instrumental in accelerating TRG’s mission and growth as the title underwriter built for the real estate industry.

“HomeServices of America is a long-time, valued customer of TRG, and we’re thrilled to welcome them as a significant shareholder to our joint venture. We look forward to working with their team to expand our collaboration in the months and years ahead, further accelerating our growth,” said Scott McCall, president and CEO, Title Resources Group.

“Our strengthened partnership with Title Resources Group further enhances the ability of HomeServices’ sales associates to provide clients with a one-stop shopping approach to delivering the American dream of homeownership,” said Gino Blefari, CEO, HomeServices. “We’re excited to be a part of this joint venture with Scott McCall and his team, as well as our other partners at Centerbridge and Realogy.”

“We are pleased to partner with HomeServices of America on this compelling JV,” said Kevin Mahony, managing director at Centerbridge. “The investment in TRG by its long-time customer validates the bright prospects for the business, and we are excited about the strategic benefits of expanding the relationship. HomeServices’ perspective and track record of success will be invaluable as we shape and execute TRG’s growth and value creation plan together.”

“The continued investment in TRG’s future is a powerful endorsement of Realogy’s strategy to unleash the underwriter’s growth potential and reinforces our confidence in the exciting opportunity of this business,” said Ryan Schneider, CEO and President, Realogy.

About Title Resources Group (TRG)

Title Resources Group – the underwriter built for the real estate industry – is one of the nation’s largest title insurance underwriters, according to the American Land Title Association’s 2021 market share data. A joint venture with Centerbridge Partners, L.P. and Realogy Holdings Corp., TRG serves title insurance agents in 37 states and the District of Columbia. With $163 million in liquid assets at year-end 2021, its financial strength and stability are rated A’ (Unsurpassed) by Demotech, Inc., and B++ (Good) by AM Best Rating Services, and since its inception, the company has consistently operated profitably without a net operating loss in any fiscal year. With a mission to provide knowledgeable and responsive underwriting solutions, TRG is dedicated to growing lifelong relationships and maintaining quality through integrity and financial stability. For more information, please visit www.titleresources.com.

About HomeServices of America

HomeServices of America, Inc., through its operating companies, is the nation’s largest residential real estate company based on closed transactions and is a premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, property and casualty insurance, relocation services and more. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.

About Centerbridge Partners, L.P.

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — private equity, credit and real estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and as of February 28, 2022 has approximately $33 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com.

About Realogy Holdings Corp.

Realogy (NYSE: RLGY) is moving the real estate industry to what’s next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today’s consumers. Recognized for eleven consecutive years as one of the World’s Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn’s 2022 Top Companies in the U.S., and honored on the Forbes list of World’s Best Employers 2021. For more information, please visit www.realogy.com.

Contact:

For Title Resources Group:

Jonathan McGrain

media@titleresources.com

For HomeServices of America:

Liz Litin

lizlitin@homeservices.com

For Centerbridge Partners:

Jeremy Fielding / Daniel Hoadley

jeremy.fielding@kekstcnc.com / daniel.hoadley@kekstcnc.com


HOMESERVICES OF AMERICA® IS THE COUNTRY’S LARGESTREAL ESTATE COMPANY

Minneapolis, Minn. (March 25, 2022) — HomeServices of America, a Berkshire Hathaway affiliate, today congratulated the sales associates, sales managers, and other employees across HomeServices’ family of businesses for HomeServices’ recognition as the country’s largest real estate company based on closed transaction sides, according to the 2022 RisMedia Power Broker Report and Real Trends 500 report. In 2021, the company’s sales associates closed 388,098 residential transactions, a 13% increase over 2020.

“Being able to provide our sales associates and their clients with a complete offering of brokerage, mortgage, and settlement services to help them navigate what is a complex and often confusing real estate transaction played an important role in our ability to achieve the No. 1 industry ranking in closed units,” said Gino Blefari, CEO of HomeServices. “Equipped with best-in-class technology and resources, our sales associates, loan officers, and closers earned their clients’ trust as they delivered the American dream of homeownership to more people than anyone else in the industry.”

“2021 was a year of incredible growth and strategic expansion and we couldn’t be prouder that we have achieved this No. 1 industry ranking for the fourth consecutive year,” continued Blefari. “And, as we look to the future, we are confident that our continued growth and unparalleled financial strength and stability will continue to make HomeServices an industry leader into 2022 and beyond.”

Headquartered in Minneapolis, HomeServices has approximately 46,000 real estate professionals operating in more than 900 offices across 33 states and the District of Columbia. Through its national network of market-leading operating companies, HomeServices offers the convenience of one-stop shopping including brokerage services, mortgage financing, title and escrow services, property and casualty insurance, relocation, new homes, and commercial and property management.

About HomeServices of America

HomeServices of America, Inc., through its operating companies, is the nation’s largest residential real estate company based on closed transactions and is the country’s premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, property and casualty insurance, relocation services and more. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.

MEDIA CONTACT: 

Liz Litin

V.P. PR & Communications

612.336.5508


Roberts Brothers Names Teresa Williamson President

MOBILE, Alabama (January 13, 2022) – Roberts Brothers, Inc., a Berkshire Hathaway affiliate, and south Alabama’s top real estate company announced today that it has named Teresa Williamson as its president. Williamson succeeds Daniel Dennis, who is departing the company and moving to Florida.

Williamson joined Roberts Brothers in 2009 as a sales associate and subsequently purchased the Roberts Brothers Saraland franchise three years later. She was promoted to general manager and, as Managing Broker of Roberts Brothers West, escalated the office to unprecedented success. As president, Williamson will set the company’s strategic vision and oversee the operation of its 300 sales associates and staff in seven offices.

Williamson becomes the first member outside the Roberts family to lead the 75-year, historic brand noted Dennis. “In addition to being respected by everyone, Teresa has the leadership, communication skills, and talent to escalate Roberts Brothers to even greater heights. She is a homerun for our sales associates, employees, buyers, and sellers,” added Dennis.

Williamson becomes the first member outside the Roberts family to lead the 75-year, historic brand noted Dennis. “In addition to being respected by everyone, Teresa has the leadership, communication skills, and talent to escalate Roberts Brothers to even greater heights. She is a homerun for our sales associates, employees, buyers, and sellers,” added Dennis.

“Teresa is a talented industry veteran who brings extensive knowledge and exemplary leadership qualities to Roberts Brothers,” said Gino Blefari, CEO of HomeServices of America, the parent company to Roberts Brothers. “I am confident that the company is well-positioned for the future under her leadership.”

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About Roberts Brothers, Inc.

World War II veterans John and David Roberts started the company in their parents’ garage on Williams Court in midtown Mobile in 1946. Celebrating its 75th anniversary in 2021, Roberts Brothers remains the leader in the Mobile Bay real estate market with nearly 300 team members in five offices, providing brokerage, relocation, vacation rental, and property management services. In 2021, the company was awarded the #2 spot for “Best Companies to Work for in Alabama” by Business Alabama magazine. Additionally, Roberts Brothers was recognized as the “Best Real Estate Company” in the 2021 Nappies by Lagniappe. Roberts Brothers is owned by HomeServices of America, a Berkshire Hathaway affiliate, and the #1 ranked real estate company in the United States. For more information, visit www.RobertsBrothers.com.

About HomeServices of America, Inc.

Headquartered in Minneapolis, MN, HomeServices is the country’s largest residential real estate brokerage company and, through its national network of market-leading operating companies, is a premier provider of integrated homeownership services including residential real estate brokerage services, mortgage originations, title and closing services, property and casualty insurance and home warranties. HomeServices of America is the owner of the award-winning Berkshire Hathaway HomeServices and Real Living Real Estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. HomeServices Relocation, LLC, is the full-service relocation arm of HomeServices of America, which provides every aspect of domestic and international relocation to corporations around the world. Information about HomeServices is available at www.homeservices.com.


HomeServices of America® Closes 2021 with Five New Acquisitions, Accelerating its Coast-to-Coast Expansion

Minneapolis, Minn. (January 11, 2022) — HomeServices of America, Inc., a Berkshire Hathaway affiliate, and the nation’s largest homeownership company, closed 2021 with simultaneous acquisitions of five companies. The acquisitions add 1,400 sales associates, 15,000 transactions, and nearly $8 billion in closed sales volume to HomeServices’ 2021 portfolio and strengthen its commitment to fulfilling a “customer-for-life” business model. Financial terms were not disclosed.

The acquisitions included four brokerage companies and a moving company:

  • Bennion Deville Homes
  • Berkshire Hathaway HomeServices Alliance Real Estate and Alliance Title Group
  • Berkshire Hathaway HomeServices Beach Properties of Florida
  • Hegg Realtors®
  • Joe Moholland Moving

“Since HomeServices was founded in 1998, our growth strategy has focused on acquiring market-leading companies with strong brands and experienced leaders,” said Gino Blefari, CEO of HomeServices. “Our newest family members fit these exacting standards and we proudly welcome them to HomeServices today. Each company brings a sterling reputation and is led by proven leaders. who have built extraordinary organizations with their team of managers, sales associates, and employees. We look forward to working with each company and are committed to supporting their continued growth and success,” said Blefari.

The companies joining the HomeServices family are:

Bennion Deville Homes.  Founded in 2001 by Bob Bennion and Bob Deville, Bennion Deville Homes is the top-ranking real estate brokerage based on units and sales volume in California’s Coachella Valley (Greater Palm Springs Area). Led by industry veterans Bob Deville, CEO, and Chris Anderson, General Manager, Bennion Deville Homes has experienced year-over-year market-share growth and is widely recognized for its collaborative culture, client-first approach, and top-producing agents. States Deville, “By joining HomeServices of America, we are ensuring the legacy of Bennion Deville Homes continues for generations to come. We are honored to join HomeServices and excited about bringing the strengths from each of our respective companies together to serve our clients and our agents. This allows us to build upon what makes Bennion Deville Homes unique in the industry in new and exciting ways.”

In 2021 Bennion Deville Homes closed nearly 4,400 transactions and $3.1 billion in sales volume.

Berkshire Hathaway HomeServices Alliance Real Estate and Alliance Title Group. Founded by Andrea Lawrence and led by President Kevin Goffstein and general manager Bob Bax, Berkshire Hathaway HomeServices Alliance Real Estate and Alliance Title Group has provided quality, service, and state-of-the-art technology to the St. Louis area and surrounding communities for more than 40 years. “HomeServices of America is known for its strength and stability, and we are honored to become a part of their family,” said Kevin Goffstein, president of Alliance Real Estate.  “By aligning ourselves with ReeceNichols and Berkshire Hathaway HomeServices Kansas City Realty we now have access to greater resources and services which will be a tremendous benefit to all of our associates as they better serve the real estate needs of their clients.”  

In 2021, Alliance Real Estate’s sales associates closed nearly 4,000 transactions and $1.3 billion in sales volume. The company will join HomeServices’ Kansas City-based brokerages — ReeceNichols and Berkshire Hathaway HomeServices Kansas City Realty — in serving clients in Missouri.

Berkshire Hathaway HomeServices Beach Properties of Florida.Headquartered in Santa Rosa Beach, Florida, Beach Properties began in 2007 as a boutique real estate brokerage serving the towns and communities along northwest Florida’s scenic Gulf Coast. Under the leadership of broker and owner Hunter Harman, and owners, Price Ranier, John David Sullivan and Jimmy Burgess, who is assuming the role of CEO, Beach Properties of Florida has experienced exponential, organic growth and has tripled its number of sales associates since 2017. “We are thrilled to be joining forces with HomeServices of America and offer even greater opportunity and access for our agents and their clients to what we believe is the best real estate network in the country. This acquisition is much more than a transaction – it represents a new season of growth and prosperity for Beach Properties of Florida,” said Harman.

 In 2021, the company’s agents closed more than 2,700 transactions and $2.1 billion in sales volume.

Hegg Realtors®. Founded in 1945, Hegg Realtors® is the largest real estate brokerage in South Dakota, and proudly serves the real estate needs of buyers and sellers throughout South Dakota. Under the leadership of Bill Hegg, its chairman, and Gregg Gohl, its chief executive officer, the company’s 200-plus agents closed nearly 4,000 transactions and $1.2 billion in sales volume. “We’re eager to leverage Edina Realty’s unbelievable resources to offer leading-edge technology, tools, security and support to our agents,” said Gregg Gohl, CEO. “And the opportunity to expand our network and business opportunities for our agents in a way that maintains our local brand and legacy is really exciting.”  Hegg Realtors® will join the Edina Realty family of brands, significantly expanding Edina Realty’s footprint in the Midwest and making it HomeServices’ first wholly-owned brokerage located in South Dakota. It will operate as Hegg Realtors, an Edina Realty company.

Joe Moholland Moving. Founded in 1987, Joe Moholland Moving predominantly serves Virginia, Maryland, and the Washington D.C. area, and provides its customers with national and international relocation services. The company has strong hauling capacity, top-ranking customer satisfaction scores, and supports residential household goods moving for local, national, and international moves. Joe Moholland Moving will operate within Tailored Move, a Long & Foster company. “We are thrilled to join forces with Tailored Move and become part of the broader Long & Foster and HomeServices of America families,” said Rob Garr, president of Joe Moholland Moving. “The values and cultures of our two companies perfectly align: We both believe in delivering the highest level of customer service while removing any stress and worry from the moving process. Our partnership will allow us to expand our services across the Mid-Atlantic and Northeast, and we are eager to get started.”

These new acquisitions exemplify HomeServices’ mission to growing its national footprint with distinguished real estate companies and establish it as the undisputed premier provider of homeownership services in the United States. After these acquisitions, HomeServices will have more nearly 46,000 sales associates operating in 33 states and the District of Columbia. For 2021, HomeServices sales associates facilitated nearly $203 billion in residential real estate sales, nearly 395,000 home sale transactions, and more than 253,000 mortgage, title and escrow and insurance transactions. 

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About Bennion Deville Homes

Founded in 2001 by real estate industry icons Bob Bennion and Bob Deville, Bennion Deville Homes is a nationally recognized real estate brand and the desert’s #1 real estate company. Bennion Deville Homes serves home buyers and sellers throughout Southern California in the primary markets of the Greater Palm Springs Area (Coachella Valley) and Mountain Communities in the surrounding area. Coachella Valley offices include locations in Palm Springs, Rancho Mirage, Palm Desert, Indian Wells, and La Quinta. Bennion Deville Homes also has offices in Garner Valley in Riverside County. Visit BDHomes.com, for the location of the Bennion Deville Homes office nearest you.

About Berkshire Hathaway HomeServices Alliance Real Estate

Berkshire Hathaway HomeServices Alliance Real Estate has provided quality, service, and state-of-the-art technology to the St. Louis real estate community for more than 40 years. As an energetic company of over 475 real estate professionals, they provide comprehensive representation with an uncompromising commitment to the highest principles of professionalism and integrity. Known throughout the region for strength, innovation, and excellence, the company operates from 8 locations serving St Louis, St Charles, Jefferson, Franklin, Washington, and beyond. Berkshire Hathaway HomeServices Alliance Real Estate proudly serves the St Louis Metro region and offers a full range of services, including corporate relocation, new homes, mortgage, title, insurance, and home warranty products. They are deeply committed to serving the local community through The Sunshine Kids, ReBuilding Together, Old NewsBoys Day, and more. Visit www.bhhsall.com.

About Berkshire Hathaway HomeServices Beach Properties

Berkshire Hathaway HomeServices Beach Properties of Florida is home to more than 200 agents in nine offices across Northwest Florida’s beautiful Gulf Coast from St. George Island to Destin. Consistently recognized for its market-leading sales volume, Beach Properties of Florida is a proud member of the Berkshire Elite Circle, a prestigious designation given to the Top 50 companies in the Berkshire Hathaway HomeServices network.

Founded in 2007 and joining as an affiliate of Berkshire Hathaway HomeServices in 2016, the brokerage supports an impressive New Homes Division, exclusively offering new construction opportunities in KAIYA Beach Resort, Watersound Origins, Churchill Oaks, WaterSound Beach, Cottage Grove, The Village at Grayton Beach, RiverCamps at Crooked Creek and more.

Berkshire Hathaway HomeServices Beach Properties of Florida now transitions from an independently owned and operated member of the Berkshire Hathaway HomeServices network to a wholly owned company by HomeServices of America in 2022. Visit www.BeachPropertiesFLA.com for additional information.

About Hegg, Realtors®

Hegg Realtors® has been successfully helping people in the Sioux Falls area buy and sell homes since 1945. It is South Dakota’s largest real estate company with more than 200 agents across the state, with offices in Sioux Falls and Rapid City. Hegg Realtors closed nearly 4,000 transactions and $1.22 billion in sales volume in 2021. For more information, visit hegg.com.

About Joe Moholland Moving

JMM operates local, national and international moving services through its continental fleet and agent network. JMM has served the Virginia, Maryland and Washington, D.C., area, for over 25 years. It offers moving, packing, unpacking and storage services, and it maintains a storage facility and warehouse locations in Woodbridge, Virginia. In addition to point-to-point moves, consumers who need to store their belongings for both short- and long-term situations can leverage JMM’s storage facilities.

About HomeServices of America

HomeServices of America, Inc., through its operating companies, is the nation’s largest residential real estate company based on closed transactions and is the country’s premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, property and casualty insurance, relocation services and more. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.


More growth, new strategies coming as First Weber announces new leadership

(Madison, WI, Jan. 6, 2022)–The new year brings excitement for First Weber Realtors®, with changes in executive leadership positions as Shawna Alt takes over as CEO of Wisconsin’s largest real estate company and Tamara Maddente moves to president.  After nearly 50 years in real estate, former CEO, Kevin Donnell, will transition to the position of Chairman where he will continue to serve on the executive leadership team and focus on strategic initiatives.

With 28 years of experience within the industry, Alt has held diverse roles in the company rising from personal assistant and sales agent to regional sales manager and president. As CEO, Shawna is focused on cementing First Weber’s position as an industry leader in identifying and meeting consumer and agent needs. She is known for her ability to drive strategies that improve both First Weber’s products and services as well as create a culture that allows agents, and staff to thrive. With a degree in psychology from the College of Charleston, Shawna serves on the board of directors for the First Weber Foundation, the South-Central Wisconsin Multiple Listing Service, and the Wisconsin Realtors® Association. She has also served on the board of directors of Colsac Skiers Adaptive Waterski School.

Maddente brings more than 30 years of experience to her new role as president, stepping up from senior vice president and regional manager. Maddente brings passion and energy to her role and works diligently to drive innovation and progess. She has served as a Director of the Wisconsin Realtors® Association, as well as the past president of the Metro Multiple Listing Service where she remains a current member of the executive committee. She also serves as president of the First Weber Foundation.

“Together, Shawna and Tammy make a great team and bring creative energy and passion to First Weber. Their experience, knowledge, and work ethic speak for themselves, and we are so excited for this next chapter,” said Donnell, Chairman of First Weber. “I am extremely proud of everyone at First Weber and everything we have accomplished together. Our future is bright. The company is in very capable hands.”

“Both Shawna and Tammy have proven themselves to be effective leaders,” said Gino Blefari, CEO of HomeServices of America, the parent company of First Weber. “I am confident that with their fresh perspective and drive, First Weber is well-positioned for continued growth and success.”


HomeServices of America® Acquires Americana Holdings

Minneapolis, Minn. (June 30, 2021) — HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced that it has acquired Americana Holdings, one of the largest independently owned and operated Berkshire Hathaway HomeServices franchisees. The company operates across three states as Berkshire Hathaway HomeServices Arizona Properties, Berkshire Hathaway HomeServices California Properties, and Berkshire Hathaway HomeServices Nevada Properties. The acquisition includes Americana Holdings’ interests in the following title and escrow companies: Legendary Title Agency (Arizona), Legendary Escrow Services (California), and Equity Title (Nevada). Financial terms of the transaction were not disclosed.

Headquartered in Henderson, Nevada, Berkshire Hathaway HomeServices Arizona, California, and Nevada Properties serve the tri-state area with nearly 3,000 sales associates in 32 offices in communities throughout Arizona, Southern Nevada, and Orange County. The company joined the Berkshire Hathaway HomeServices network as an independent franchisee in 2014 and with this transaction, now joins the family of HomeServices of America wholly owned companies. In 2018, Berkshire Hathaway HomeServices Nevada Properties entered the Inc 5000 Hall of Fame after being named as one of the country’s fastest-growing private companies for five years. In 2018, it also was ranked No. 32 on the Swanepoel Mega 1000, a list of the largest real estate brokerages in the U.S. by sales volume.

Berkshire Hathaway HomeServices Arizona, California, and Nevada Properties is known for their commitment to providing agents and clients with the highest level of customer service, expertise, and resources. They rank #1 in Nevada in sales volume and #4 in transactions across the global Berkshire Hathaway HomeServices network. Nationally, they rank #19 in sales volume and #34 in transaction sides according to the 2021 Real Trends 500 report. In 2020, the company closed more than 14,000 units and more than $7 billion in volume.

Mark Stark, the company’s chief executive officer, has nearly 40 years of real estate experience and is among real estate’s most recognized and influential leaders. In 2020, Stark was named among the “Most Powerful People in Real Estate” in the Swanepoel Power 200. Stark, together with president and chief operating officer Gordon Miles, will continue to lead Berkshire Hathaway HomeServices Arizona, California, and Nevada Properties’ strategic planning and growth initiatives as well as manage the company’s day-to-day operations.

“Mark and Gordon, together with their team of extraordinary sales managers and agents, have built an exceptional organization and demonstrate a level of expertise and leadership that is second-to-none in the real estate business today,” said Gino Blefari, CEO of HomeServices of America and chair of Berkshire Hathaway HomeServices.

“HomeServices is an outstanding organization,” said Stark. “When you combine the incredible strength of our people and the history of our success with Gino’s unsurpassed leadership and the spirit of innovation and the financial strength of HomeServices, there is no limit to what we can accomplish.”

“We are committed to Berkshire Hathaway HomeServices Arizona, California, and Nevada Properties’ continued growth and success,” concluded Blefari. “We look forward to working with Mark and his team and are very proud to welcome them to the HomeServices family.”

The acquisition extends HomeServices’ national footprint to Nevada and further expands its presence in both Arizona and California. Now serving these areas from the HomeServices family of companies are Tucson-based Long Realty, a HomeServices company since 1999; San Diego-based Berkshire Hathaway HomeServices California Properties (2002); Fresno-based Guarantee Real Estate (2013); and Silicon Valley-based Intero Real Estate (2014). With this transaction, HomeServices has nearly 46,250 real estate professionals operating in more than 900 offices across 32 states.

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About Berkshire Hathaway HomeServices Arizona, California and Nevada Properties

Americana Holdings operates Berkshire Hathaway HomeServices Nevada Properties, Berkshire Hathaway HomeServices Arizona Properties and Berkshire Hathaway HomeServices California Properties. The firms are leaders in their respective markets with 32 offices and more than 3,000 real estate sales executives, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Last year, the firm completed a record-breaking $7.1 billion in residential home sales. It is a member of the Inc 5000 Hall of Fame for being one of America’s fastest growing private companies for five consecutive years. For more information, visit www.bhhsnv.com, www.bhhsaz.com or www.bhhscaproperties.com.  

About HomeServices of America

HomeServices of America, through its operating companies, is the nation’s largest residential real estate company based on closed transactions and is the country’s premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, insurance, and relocation services. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.

MEDIA CONTACT:

Caroline Underwood / cunderwood@krepspr.com

P: 305.588.7108


Berkshire Hathaway HomeServices Welcomes Berkshire Hathaway HomeServices Atlantic Portugal to Global Network

IRVINE, Calif. & Cascais, Portugal, April 22, 2021 – Berkshire Hathaway HomeServices, one of the world’s fastest-growing residential real estate brokerage franchise networks, is pleased to announce that Berkshire Hathaway HomeServices Atlantic Portugal has joined its worldwide network. The startup company will add one additional office and eight agents to the global network. The brokerage will service Cascais, Lisbon, Porto, Comporta, Algarve and all over Portugal.

“In Berkshire Hathaway HomeServices we have found a network that truly recognizes that real estate is more than a transaction, but a relationship,” says Patrícia Salgueiro, CEO of Berkshire Hathaway HomeServices Atlantic Portugal. “The network aligns seamlessly with our values and I am looking forward to continuing the promise of trust, integrity, stability and longevity of work due to our tailor-made services within our brokerage. The Clients are my priority and I want to leave an unforgettable memory of the beginning of a great relationship!”

Patrícia Salgueiro brings years of valuable experience to her role. With a background immersed in the luxury market, she has acquired the necessary skills designed to persevere in a competitive market and create strong relationships all across the globe.

With their brand transition, Berkshire Hathaway HomeServices Atlantic Portugal gains access to Berkshire Hathaway HomeServices’ active referral and relocation networks, and its “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more. Berkshire Hathaway HomeServices has aligned with best-in-class technology platforms to deliver world-class support to its network members far into the future.

The brand also provides global listing syndication, professional training and ongoing education and the exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a strong lineup of feature stories covering topics that appeal to high-end real estate consumers.

“We’re proud to welcome Berkshire Hathaway HomeServices Atlantic Portugal,” said Chris Stuart, CEO of Berkshire Hathaway HomeServices. “Patrícia is a skilled and seasoned leader who will effortlessly lead, guide and inspire her team of real estate professionals.”

The new brokerage will also leverage the strength and reliability of the Berkshire Hathaway HomeServices Luxury Collection division, which utilizes an elite network of experienced, service-oriented professionals that combines local expertise with vast global connections, together with marketing resources to deliver the best-in-class results.

Gino Blefari, Chairman of Berkshire Hathaway HomeServices, also welcomed the company to the network, “We’re thrilled to have Berkshire Hathaway HomeServices Atlantic Portugal join the network. Patrícia and her team share our vision to create long-lasting relationships with their clients and truly become Forever Agents.”

To learn more visit: bhhsatlanticportugal.com

About Berkshire Hathaway HomeServices Atlantic Portugal

Berkshire Hathaway HomeServices Atlantic Portugal is dedicated to helping its clients through the entire experience of the homebuying process and establishing connections all over the world. Its first-class service in supporting people to find their forever home in Portugal turns dreams into a reality. Serving the region in Cascais, Lisbon, Porto and Comporta, Portugal the company prides its reputation on providing excellence to its customers through professional advisory and support teams. Its elite clientele has entrusted Atlantic Portugal with Portugal’s most unique properties.

About Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices is one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals, nearly 1,500 offices throughout the U.S., Canada, Mexico, Europe, and the Middle East, and more than $138 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability, and longevity.

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HomeServices of America®Welcomes Steven James and Brad Loe to Leadership Team

Minneapolis, MN (April 20, 2021) — HomeServices of America, a Berkshire Hathaway affiliate, today welcomed iconic leaders Steven James and Brad Loe to the company’s leadership team as Executive Directors of Brokerage Development.

James and Loe are among real estate’s most recognized and influential leaders, known for their industry expertise, high profile clientele and superior customer service. In their new roles, James and Loe will provide guidance and support to multiple strategic growth initiatives, all while advancing the expansion of state-of-the-art technology platforms as HomeServices strengthens its value proposition to its agents and consumers.

James and Loe will divide their time between HomeServices’ corporate headquarters in Minneapolis and offices in Westchester County.

Prior to joining HomeServices, James served as President and CEO of Douglas Elliman’s New York City brokerage and director of sales for its East Side office, the single most profitable residential real estate office in the U.S. for over 15 years. 

Loe served as Executive Manager of Sales at Douglas Elliman’s 1995 Broadway and 575 Madison Avenue offices and is highly respected as a mentor to his agents, bringing almost two decades of experience.

“Steven and Brad have each had exceptionally successful careers and understand the needs and preferences of agents, buyers and sellers,” said Gino Blefari, president and CEO of HomeServices of America. “This perspective will be invaluable as HomeServices works to reimagine the home buying and selling experience for consumers and the process by which our real estate agents serve them.”

“HomeServices is a strong, rapidly-evolving company with a sterling reputation,” added James. “In today’s fluid residential real estate brokerage landscape, the opportunity to work with a company of HomeServices’ caliber, one that offers such an exceptional value proposition to agents, is extremely compelling.  I look forward to furthering HomeServices’ offerings on both a domestic and global scale.”

“HomeServices is an outstanding organization with a talented and experienced leadership team all committed to delivering exceptional customer service,” noted Loe. “I couldn’t be more excited to join this extraordinary company and to play a role in their continued growth and success.”

HomeServices of America is the nation’s largest residential real estate company based on closed transactions and is the nation’s premier provider of homeownership services including brokerage, mortgage, franchising, settlement, insurance, and relocation services. HomeServices is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. The company is consistently lauded for its operational excellence with many of its leaders recognized year after year for their merits and industry accomplishments, most recently including a multitude of appointments to the 2020 Swanepoel Power 200 roster.

“Steven and Brad are well known for their energy, charisma and powerful industry presence,” concluded Blefari. “And we’re thrilled to welcome them to the HomeServices family.”

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