Category Archives: HomeServices of America

Intero Launches Intero Capital Markets

(BRK.A), (BRK.B)

Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc., is proud to announce that top Intero agent, Efi Luzon, will launch and manage a new division for the company called Intero Capital Markets.

Luzon brings more than 30 years of real estate experience to this new division, which is slated to invest more than $1 Billion in various Bay Area commercial opportunities over the remainder of 2019.

In addition to the investments, there will be a viable referral channel for agents that leverage their network to bring sellers with large commercial opportunities. Commercial projects that are up for consideration include large commercial holdings such as office buildings, shopping malls, apartment complexes, hotels, ground leases, mobile home parks and mixed-use parcels.

Running Intero Capital Markets is a natural progression for Luzon, who has experienced the highest level of success within the commercial real estate world. He has participated in some of the most prolific commercial transactions, not only in the Bay Area, but in the country. He has the top-three transactions, based on sales price, in the history of Intero and has more than $6 billion in sales volume over his prestigious career.

“I am very excited to get Intero Capital Markets up and running,” said Efi Luzon, Senior Vice President and General Manager of Intero Capital Markets. “We are going to experience a level of success unprecedented in the commercial real estate space and I’m proud to be driving this incredible division.”

Luzon started with Intero in 2004 and has had a stellar career with the firm. In that 15-year timeframe, Luzon has had several billion dollars in real estate sales and in 2017, he was recognized by RealTrends and The Wall Street Journal as the number one agent in California and number two agent nationally, with more than $800 million in sales. In 2015, Luzon earned the most coveted award from Intero with his induction into the Hall of Fame.

“All of us at Intero are tremendously proud and excited by what Efi is building,” said Brian Crane, Co-Founder and Chief Executive Officer of Intero – A Berkshire Hathaway Affiliate. “We know this will be an extremely successful venture for both Efi and Intero.”

“Having worked with Efi for a while now, I know his skill and determination will be a powerful combination for this new division,” said Scott Chase, Vice President and Managing Officer of Intero Los Altos. “We are not only excited for Efi, but we are excited what this new division will provide for Intero and our agents.”

© 2019 David Mazor


isclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkshire Hathaway Specialty Insurance Opens Office in Paris

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Berkshire Hathaway Specialty Insurance (BHSI), in coordination with its affiliate, has received its insurance license in France, established a new office in Paris, and appointed François-Xavier d’Huart as Country Manager.

“We are pleased to continue our strategic expansion in Europe, with our new office in France and François-Xavier leading our efforts to bring BHSI’s underwriting and claims acumen, financial strength, and long-term focus to the French market,” said Chris Colahan, President, BHSI in Europe and the UK. “François-Xavier brings extensive experience to BHSI, and I am so pleased to have him at the helm as we build our product line and team in Paris.”

Beginning immediately, BHSI is underwriting property, casualty, and executive & professional lines in France. The company expects to launch several other products in France in the months ahead.

François-Xavier comes to BHSI with 15 years of industry experience. He was most recently Head of Client and Broker Management for France at AXA XL (previously XL Catlin). Before that he was Chief Executive Officer, Office Lyonnais d’Assurances and Interassur, at SATEC, and Head of Marine Cargo & Hull for Asia at AXA Asia.

François-Xavier holds a master’s degree in Engineering from SUPELEC and a master’s degree in Economics and Management from the IFP School. He received his actuarial degree from Centre d’Etudes Actuarielles.

BHSI’s Paris office is located at 88 & 92 Avenue Charles de Gaulle, 92200 Neuilly-sur-Seine.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Intero Selected for Membership in Leading Companies of the World and Luxury Portfolio International

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Berkshire Hathaway’s Intero, a wholly owned subsidiary of Berkshire’s HomeServices of America, Inc., has been awarded exclusive affiliate status for Silicon Valley in Leading Real Estate Companies of the World® and its luxury program, Luxury Portfolio International®.

Leading Real Estate Companies of the World® is a global real estate community comprised of 565 of the best-known local and regional real estate firms, with 4,300 offices and 130,000 sales associates in over 70 countries. Collectively, these firms represent 1.1 million transactions annually.

Intero’s dominant #1 market share in Santa Clara County will be further enhanced by our exclusive affiliation with Leading RE. In addition to the business collaboration benefits, Leading RE will also extend and enhance Intero’s reach in the luxury market through Luxury Portfolio International.

Affiliates of Leading Real Estate Companies of the World® are widely recognized as the premier providers of quality residential real estate and relocation services. Leading Real Estate Companies of the World® is the largest network of residential real estate firms, and network affiliates are widely recognized as the premier providers of quality residential real estate and relocation services. Leading Real Estate Companies of the World® also excels in the upper-end market with its Luxury Portfolio International® marketing program.

Leading RE exists to make its members better by connecting them to opportunities and people around the globe, supporting them with an industry-leading international referral network, award-winning professional development programs and events, professional marketing resources and more.

Luxury Portfolio International® is the luxury face of Leading RE, with a unified collection of the world’s most respected experts in luxury real estate. Luxury Portfolio marketed over 50,000 of the world’s most remarkable homes last year and attracted over three million high-net-worth visitors by presenting a gallery of the finest luxury properties and brokerages worldwide.

Luxury Portfolio members offer extensive global reach for high-end properties through the award-winning website, LuxuryPortfolio.com; the Luxury Portfolio International magazine; targeted advertising reaching an affluent audience worldwide and professional marketing materials.

“We are delighted to have Intero as part of our distinguished network of premier brokerages. The company has an impeccable reputation in the Bay Area, and we are committed to helping the firm achieve even greater success,” said Paul Boomsma, president and CEO of Leading RE. “As a member of Leading RE and Luxury Portfolio, Intero aligns with other market-leading firms and expands its local expertise to deliver powerful marketing worldwide.”

“We are thrilled to be part of the Leading RE and Luxury Portfolio family,” said Brian Crane, Chief Executive Officer of Intero. “Real estate brokerage is a local business; aligning ourselves with the premier luxury real estate network in the world helps Intero agents to provide the best tools and results for our clients in the luxury market throughout Silicon Valley.”

© 2019 David Mazor


Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Intero Names New CEO

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Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc., today announced that Brian Crane has been promoted to the role of chief executive officer and John Thompson has been named president of company.

One of the original founders of the company, Crane is a real estate veteran whose decisive leadership and collaborative approach have been integral to the year-over-year growth for which Intero is best known.

Over the course of his 17-year career at Intero, Crane has held a number of positions and most recently served as Senior Vice President of Strategic Relationships and manager of the Los Gatos office.

Also, effective immediately, John Thompson will take on the role of president and report to Brian. A founding member and former owner of the company, John has led Intero’s strategic planning and growth initiatives, as well as managed its day-to-day operations. Most recently, John was Chief Culture Officer and before that he managed the Los Altos office.

“I am humbled and honored by this promotion,” said Crane. “I look forward to leading Intero to new levels of growth and performance with the best and brightest professionals in the business – our outstanding agents, experienced leadership team and talented employees.”

“Brian and I have worked together since we founded the company,” said Thompson. “He has a deep understanding of the real estate business and I couldn’t be more excited to be playing a key role in this transition.”

“Brian and John make a great team,” said Gino Blefari, CEO of HomeServices. “I am confident that their extensive experience, fresh perspective and exceptional leadership qualities will help guide Intero into the future and position the agents for even greater success.”

“Brian and John are the right leaders to ensure that Intero is well-positioned for future growth,” added Ron Peltier, HomeServices’ executive chairman. “On behalf of HomeServices, we look forward to working with them in the months and years to come.”

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

HomeServices of America is US’s #1 Largest Real Estate Company

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Berkshire Hathaway’s HomeServices of America keeps reaching new milestones in its growth, and today has announced that it is the US’s largest residential real estate company based on transaction sides, according to the REAL Trends 500 report.

In 2018, the company’s sales associates closed 346,629 residential transactions reflecting a 5.6% increase over 2017. The REAL Trends ranking is based on 2018 closed transaction sides for the country’s top-500 brokerages.

“2018 was a year of incredible growth and strategic expansion and we couldn’t be more proud that we have achieved this No. 1 industry ranking,” said Ron Peltier, executive chairman of HomeServices. “This milestone is a testament to the commitment and hard work of thousands of employees and tens of thousands of talented agents and sales managers across HomeServices who deliver an exceptional real estate experience to their buyers and sellers.”

“This is a turning point in our history and we congratulate our incredible employees and agents who work tirelessly to help their clients achieve the American dream of home ownership,” added Gino Blefari, CEO of HomeServices. “This achievement is a culmination of years of hard work and while we are celebrating this moment, we are not resting on our laurels. HomeServices is dedicated to continued growth both organically and through strategic acquisitions and we are committed to modernizing the home-transaction experience for buyers and sellers and the process by which our agents serve them.”

Headquartered in Minneapolis, HomeServices has nearly 44,000 real estate professionals operating in nearly 900 offices across 30 states and the District of Columbia. In 2018, the company’s sales associates facilitated nearly $136 billion in residential real estate sales, nearly 347,000 home-sale transactions, and nearly 323,000 mortgage, insurance, title, and escrow transactions.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Intero Expanding in the Carmel and Monterey County Markets

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Intero is expanding its operations in California’s Carmel and Monterey County markets.

The company has announced the hiring of J.R. Rouse as the Vice President and Managing Officer of the Monterey Peninsula operation.

Intero is a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America.

J.R., a 20-year real estate veteran, moved to California in 1989, and spent the next ten years in Silicon Valley at iconic technology brands Silicon Graphics and Cybersource. He started his real estate career on the Monterey Peninsula in 2000 when he moved to Pacific Grove. Six years later, he opened his own real estate brokerage, J.R. Rouse Real Estate, and was quickly honored by the Pacific Grove Chamber of Commerce as Entrepreneur of the Year. He managed his firm until he joined Sotheby’s International Realty in January of 2014.

During his successful career, J.R. has taken on many leadership roles at various local and state real estate organizations. He served on the Monterey County Board of Realtors in a variety of positions including Director (2002), Secretary/Treasurer (2003), President Elect (2004), and President (2005). During 2007 and 2008, J.R. served as a director of MLSListings Inc., and from 2008 to 2011, he served on the Strategic Planning and Finance Committee for the California Association of Realtors (C.A.R.), acting as the vice-chair in his final year.

“I am so excited about being with a company that has alignment with my own personal and professional philosophies,” said J.R. Rouse, Intero Vice President and Managing Officer. “We will combine my professional connections and business drive with Intero’s marketing and operational support and we will build something very special on the Monterey Peninsula.”

The first step in the strategic plan to make Intero the number one brokerage on the Monterey Peninsula was to increase the size and location of the Carmel operation. This is in the works and soon Intero Carmel will move from its current petite location on Lincoln between 5th and 6th to its large and open office at 3 NE Ocean Avenue and San Carlos.

“We are beyond thrilled to have J.R. join our leadership team running our Monterey Peninsula operation,” said Tom Tognoli, Intero President & Chief Executive Officer. “He brings a level of enthusiasm and passion that is unprecedented in our industry.”

Joining J.R. in his move to Intero is Jan Pratt. Jan has been J.R.’s Assistant and Broker Associate for more than 13 years and is an integral part of his past success.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Intero Opens Office in Reno, Nevada

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Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of Berkshire’s HomeServices of America, Inc., has opened its newest location in Reno, Nevada.

Situated about five miles from Downtown, the new Reno office, located at 5470 Kietzke Lane, is owned and operated by the motivated and detail-oriented Denise Hallerbach.

This is Denise’s second stint with Intero, having had a franchise operation from 2014 to 2016.

Denise holds a Bachelor of Arts Degree in Psychology from Stanford University, and a Master of Arts Degree in Communicative Disorders from University of the Pacific. Prior to her 9-year career in real estate, she treated stroke and head-injured patients as a medical Speech-Language Pathologist. While attending Stanford, she was a member of the Stanford Women’s Volleyball Team, winning 2 NCAA National Championships with her teammates.

“We are thrilled to be back,” said Denise Hallerbach, Intero Reno Broker & Owner. “Bringing Intero back to the Greater Reno area is not only exciting for us, but also benefits our community as they experience the highest level of service coupled with the exceptional brand Intero embodies.”

Joining Denise in the new Reno location is Robert Skinner, a 14-year veteran of the residential and commercial real industry. Robert has a wealth of knowledge and experience in sales, leasing and real estate development. He earned a Certified Commercial Investment Member (CCIM) designation in 2007 and is an expert in the commercial and the investment real estate industry.

“The entire Intero Family is excited to have Denise and Robert lay the foundation for the Intero Reno office,” said Tom Tognoli, Intero President & Chief Executive Officer. “We know with their work ethic, connections and drive, success will be a foregone conclusion.”

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

HomeServices of America Picks Up Berkshire Hathaway HomeServices Florida Realty

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Berkshire Hathaway’s HomeServices of America has acquired Berkshire Hathaway HomeServices Florida Realty and its affiliate, Florida Title and Guarantee Agency.

Berkshire Hathaway HomeServices Florida Realty will continue to be led by Rei Mesa, the brokerage’s CEO and president.

The firm, based in Florida, serves 21 counties from more than 40 locations and with 1,750 salespeople.

The acquisition grows HomeServices’ presence in the Sunshine State.

It acquired EWM Realty International, based in Miami, in 2003, and Berkshire Hathaway HomeServices Florida Network Realty in 2016.

“Rei, together with his executive leadership team, managing brokers, sales support staff and sales professionals, have demonstrated a longstanding commitment to providing exceptional service to their buyers, sellers and property owners,” says Ron Peltier, chairman and CEO of HomeServices of America. “Their culture of service, integrity and community involvement closely aligns with our corporate vision and we are fully committed to their continued growth and success.”

“This is an important transaction to HomeServices and we are looking forward to welcoming Rei and his team to the HomeServices family,” Peltier says.

“We are honored and excited to be joining HomeServices,” says Mesa, who was named a 2019 Real Estate Newsmaker by RISMedia. “They are 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.”

HomeServices of America, an affiliate of Berkshire Hathaway, is No. 2 in the nation for sales volume and transactions, according to RISMedia’s 2018 Power Broker Report, garnering more than $125.4 billion in sales volume and over 328,350 transactions in 2017.

The company was featured in the June 2018 issue of RISMedia’s Real Estate magazine, and, in May, Peltier, along with six other industry leaders, was inducted into RISMedia’s inaugural Newsmakers Hall of Fame.

Berkshire Hathaway HomeServices Florida Realty is among the top 10 brokerages in the country in the Berkshire Hathaway HomeServices network, according to the announcement.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

ReeceNichols Real Estate Expanding in Missouri

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ReeceNichols Real Estate, the leading real estate company in Missouri, is expanding its footprint in the Branson, Missouri area with the acquisition of a top performing RE/MAX office.

The company is a Berkshire Hathaway affiliate and a wholly-owned subsidiary of HomeServices of America, Inc.

ReeceNichols has continued to expand in southern Missouri, following a merger with Carol Jones REALTORS® in June 2018, creating a company with more than 3,000 real estate agents in 31 branch offices and 26+ franchise offices throughout Kansas and Missouri.

The new office, ReeceNichols Branson West Lakeview, located in the Welcome Center at Stonebridge Village near Route 265, becomes the 12th office in ReeceNichols’ southern region. It is ReeceNichols’ third office in the Branson area.

“We’ve watched as the real estate market in Branson has continued to grow,” said President & CEO Mike Frazier. “It is a premier vacation destination and an in-demand area for second homes. Acquiring this new office is a big win for us.”

David Gubin, managing broker for the Branson and Branson West offices, and Rick Billington, who managed the RE/MAX office, will be co-managing brokers for ReeceNichols’ three offices in the Branson area: Branson, Branson West and Branson West Lakeview. Billington operated the RE/MAX franchise for 10 years. In 2018, the office closed just over $30 million in sales volume.

“This is a very strong group in the Branson market and we are thrilled to bring Rick and his agents on board,” said Shaun Duggins, president of ReeceNichols’ southern region. “Taking their knowledge and combining it with the cutting-edge tools, training and support ReeceNichols can provide, we’ll be able to service the Branson area even better.”

More acquisition talks are in the works. Duggins said he plans to grow ReeceNichols’ southern region by nearly 200 agents in 2019 and complete three or four acquisitions.

© 2019 David Mazor


Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Berkshire Hathaway’s Real Estate Brand, Intero, Continues to Expand

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Berkshire Hathaway’s real estate brand, Intero, a wholly owned subsidiary of Berkshire’s HomeServices of America, Inc., has issued a number of announcements for the month of November. They include: Intero has formally acquired the Intero San Jose Almaden franchise office from Brian and Diane McDermott. The office, located at 5580 Almaden Expressway San Jose, CA 95118, is home to more than 60 agents and will be the third Intero company owned location in San Jose.

Other announcements include:

• Hiring industry veteran Scott Chase to lead the Los Altos office. Scott has more than 15 years of experience and most recently was the regional sales manager at Opes Advisors. Scott has a business philosophy that centers on planning and continuous improvement in skills, systems and teams to take care of our customers’ concerns around real estate. He will take over the reins from John Thompson, who will focus on his duties of Chief Culture Officer to drive the company’s community and philosophy.

• Opening a new Burlingame office led by Lana Morin Pierce. Located at 200 Park Road Burlingame, CA 94010, the office is home to more than 35 agents.

• Opening a new Downtown Gilroy office led by William Chea. Located at 7652 Monterey Road Gilroy, CA 95020, the office is slated to officially open on November 30th and will house the 36 agents that currently reside at the First Street office.

“Here at Intero, we are constantly evolving and shifting to keep ahead of the competition,” said Tom Tognoli, Intero President & Chief Executive Officer. “We are very happy about the acquisition of the San Jose Almaden office, as this will help us better service our growing demand in Almaden Valley and beyond. We are thrilled to have Scott Chase join our leadership team as we know he will bring a bolt of energy to our entire organization. We are also excited about our new offices in Burlingame and Gilroy, which will provide a perfect space to serve both our agents and clients.”

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.