HomeServices of America

HomeServices of America
IndustryReal estate
Founded1998; 28 years ago (1998)
HeadquartersMinneapolis, Minnesota, U.S.
Key people
Chris Kelly, CEP
ServicesBrokerage
Mortgage
Insurance
Title
Escrow
Franchising
Relocation services
Number of employees
6,000
ParentBerkshire Hathaway Energy
Websitewww.homeservices.com Edit this on Wikidata

HomeServices of America is a residential real estate services company operating in the United States. 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.[citation needed] It is the second-largest real estate brokerage in the country, behind Compass, Inc.

The company operates under many brand names including HomeServices of America, Huff Realty, Edina Realty, and Long & Foster.

History

1990s

In 1998, AmerUs Home Services was acquired by MidAmerican Energy Holdings Company.[1][2][3] In 1999, MidAmerican renamed its brokerage business HomeServices and acquired Semonin Realtors, operating in Louisville, and Long Realty, operating in Arizona.[4][5] In 1999, Berkshire Hathaway acquired MidAmerican Energy Holdings Company.[6][7]

2000s

In 2006, the company acquired Atlanta-based real estate brokerage Harry Norman Realtors.[8][9]

2010s

In 2012, the company acquired real estate brokerage firms from Prudential and Real Living and rebranded Prudential Real Estate to Berkshire Hathaway HomeServices.[10][11] In August 2013, the company acquired Prudential Fox & Roach, Realtors®/Trident Group.[12][13][14][15] In November 2013, the company acquired Prudential Rubloff Properties, operating in the Chicago area.[16][17] In May 2014, the company acquired Intero Real Estate Services, operating in Silicon Valley.[18][19][20] In July 2015, the company acquired Prudential Centennial Realty, operating in Westchester County,[21] and First Weber, the largest residential brokerage in Wisconsin.[22][23] In January 2017, the company acquired Houlihan Lawrence, the largest residential brokerage in Westchester County.[24][25][26] In April 2017, the company acquired Gloria Nilson & Co. Real Estate, a residential brokerage in New Jersey.[27][28] The company also formed a strategic alliance with Juwai.com, the largest international property portal in China, offering access to high-net-worth individual Chinese buyers looking to purchase homes.[29][30] In June 2017, Robert Moline, president of the company, retired.[31] In September 2017, the company acquired Long & Foster.[32][33][34] In 2018, the company acquired North Texas real estate firm Ebby Halliday.[35]

2020s

In January 2022, through its Edina Realty subsidiary, it acquired Sioux Falls, South Dakota–based Hegg Realtors.[36][37]

In May 2022, it acquired a minority stake in Title Resources Group.[38]

In November 2023, a federal jury in Kansas City, Missouri, found HomeServices and the National Association of Realtors liable in lawsuits that alleged brokerage firms conspired to inflate commissions. The plaintiffs, who were represented by Michael Ketchmark, were awarded $1.78 billion in damages.[39][40][41][42][43] In April 2024, the company agreed to pay $250 million to settle the lawsuits.[44][45][46]

References

  1. ^ SALPUKAS, AGIS (April 7, 1998). "MidAmerican to Buy Real Estate Group". The New York Times.
  2. ^ Kerch, Steve (May 24, 1998). "What America's Homes Need Is A Conglomerate". Chicago Tribune.
  3. ^ "Edina Realty sold to energy company". American City Business Journals. April 6, 1998.
  4. ^ Dooley, Tom (April 28, 2011). "Industry Watch: HomeServices.com Moves into the Spotlight". Realtor Magazine.
  5. ^ "Long Realty acquired". American City Business Journals. July 10, 2019.
  6. ^ Lipin, Steven; Miller, James P. (October 25, 1999). "Investors Led by Buffett to Buy Iowa's MidAmerican Energy". The Wall Street Journal.
  7. ^ "Buffett gets energetic". CNN. October 25, 1999.
  8. ^ "Warren Buffett buying Harry Norman Realtors". American City Business Journals. May 23, 2006.
  9. ^ "HomeServices buys Atlanta real estate company". Bradley Inman. May 24, 2006.
  10. ^ "Warren Buffett buys Prudential real estate unit". USA Today. Associated Press. October 30, 2012.
  11. ^ Sichelman, Lew (September 20, 2013). "Berkshire Hathaway to shake up real estate franchise landscape". Los Angeles Times.
  12. ^ "HomeServices acquires Prudential Fox & Roach". Bradley Inman. August 14, 2013.
  13. ^ Spikol, Liz (August 14, 2013). "Announced: Warren Buffet Affiliate Acquires Prudential, Fox & Roach". Philadelphia.
  14. ^ Kostelni, Natalie (November 12, 2013). "Fox & Roach finally gets its new name". American City Business Journals.
  15. ^ Simpson, Jake (August 15, 2013). "Berkshire Hathaway Unit Buys RE Broker Prudential Fox". Law360.
  16. ^ "Warren Buffett's HomeServices of America swallows Prudential Rubloff Properties". Bradley Inman. November 12, 2013.
  17. ^ Matthews, David Lee (November 12, 2013). "Koenig & Strey parent acquires Prudential Rubloff". Crain Communications.
  18. ^ "HomeServices acquires Intero Real Estate Services and gets a foothold in Silicon Valley". Bradley Inman. May 13, 2014.
  19. ^ 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.
  20. ^ Buchta, Jim (May 13, 2014). "HomeServices buys Silicon Valley real estate brokerage". The Minnesota Star Tribune.
  21. ^ Renner, Tom (July 9, 2015). "Eastchester Brokerage Joins Berkshire Hathaway HomeServices". Daily Voice.
  22. ^ Buchta, Jim (July 28, 2015). "HomeServices of America buys First Weber, biggest brokerage in Wisconsin". The Minnesota Star Tribune.
  23. ^ Schiffman, Betsy (November 17, 2015). "Warren Buffett Can't Buy Real Estate Agencies Fast Enough". Forbes.
  24. ^ Ramstad, Evan (January 18, 2017). "HomeServices buys Houlihan Lawrence, a real estate brokerage near NYC". The Minnesota Star Tribune.
  25. ^ Stempel, Jonathan (January 17, 2017). "Berkshire Hathaway unit buys big NYC-area real estate firm". Reuters.
  26. ^ Hall, Miriam (January 19, 2017). "Berkshire Hathaway is betting big on New York — will it work?". The Real Deal.
  27. ^ Willis, David P. (April 4, 2017). "Buffett subsidiary buys Gloria Nilson real estate". Asbury Park Press.
  28. ^ Reilly, Mark (April 5, 2017). "HomeServices' latest deal takes it to Jersey Shore". American City Business Journals.
  29. ^ Boose, Suzanne (April 17, 2017). "Berkshire Hathaway Signs Agreement with China's Largest International Property Portal". Patch Media.
  30. ^ Stempel, Jonathan (April 28, 2017). "Buffett's Berkshire, Chinese property website Juwai.com team up". Reuters.
  31. ^ Buchta, Jim (June 30, 2017). "Robert Moline's exit launches executive changes at HomeServices". The Minnesota Star Tribune.
  32. ^ Clabaugh, Jeff (September 7, 2017). "Long & Foster sold to Warren Buffett company". WTOP-FM.
  33. ^ McCallister, Doreen (September 8, 2017). "Long & Foster Sold To Warren Buffett's HomeServices Of America". NPR.
  34. ^ Gilgore, Sara (September 7, 2017). "Long & Foster acquired by Buffett affiliate HomeServices of America". American City Business Journals.
  35. ^ "It's Official, Warren Buffett Buys Ebby Halliday Companies". NBC News. 4 June 2018. Archived from the original on 25 August 2019.
  36. ^ "Minnesota firm acquires Hegg Realtors". SiouxFalls.Business. January 11, 2022.
  37. ^ Reilly, Mark (January 12, 2022). "Edina Realty parent HomeServices buys four brokerages, Joe Moholland Moving". American City Business Journals.
  38. ^ "HomeServices of America Acquires Ownership Stake in Title Resources Group" (Press release). PR Newswire. May 3, 2022.
  39. ^ Scarcella, Mike; Stempel, Jonathan (October 31, 2023). "US jury finds realtors liable for inflating commissions, awards $1.78 bln damages". Reuters.
  40. ^ "Realtors found liable for $1.8 billion in real estate commissions case". 31 October 2023.
  41. ^ "Realtors, brokerages ordered to pay $1.8B in damages in commission collusion ruling". American City Business Journals. October 31, 2023.
  42. ^ Mark, Julian (31 October 2023). "Jury awards $1.8B in realty case that could shake up brokerage commissions". The Washington Post.
  43. ^ "Realtors found liable in conspiracy to keep commissions for home sales artificially high". ABC7 Chicago. November 1, 2023.
  44. ^ VEIGA, ALEX (April 26, 2024). "Berkshire Hathaway's real estate firm to pay $250 million to settle real estate commission lawsuits". Associated Press.
  45. ^ Stempel, Jonathan (April 26, 2024). "Warren Buffett's real estate brokerage reaches $250 mln antitrust settlement". Reuters.
  46. ^ Kamin, Debra (April 26, 2024). "Warren Buffett's Real Estate Brokerage Agrees to $250 Million Settlement". The New York Times.
allikas: https://en.wikipedia.org/wiki/HomeServices_of_America