Tag Archives: HomeServices of America

ReeceNichols President Becomes CEO

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Mike Frazier, ReeceNichols president and chief financial officer, has assumed the role of chief executive officer and president. Linda Vaughan, former CEO, will serve as Chairman Emeritus through the remainder of 2018.

ReeceNichols is a wholly-owned subsidiary of Berkshire Hathaway’s HomeServices of America.

“Having worked closely with Mike over the last 11 years, I know he has the skill and drive to lead ReeceNichols to new levels of success,” Vaughan said. “He has a passion for our team, and I am excited to see the bright future that lies ahead for ReeceNichols under Mike’s leadership.”

Frazier joined ReeceNichols in 2007 as CFO and chief operating officer. In January 2018, he was named president of the organization. During Mike’s tenure, ReeceNichols has expanded geographically in Kansas City and southern Missouri and has grown in market share.

In 2017, ReeceNichols guided over 20,000 families and individuals through the home buying and selling process.

“Linda and I have worked together for many years, and her strategic insight and vision have been at the center of ReeceNichols’ continued success,” Frazier said. “I look forward to leading ReeceNichols to its next stage of growth and performance, supported by our talented agents and world-class management team.”

“Linda’s leadership helped guide ReeceNichols to become a leading real estate company. On behalf of HomeServices, we thank her for her many contributions, and we wish her well as she enters this new chapter of her life,” said Greg Mason, president, Midwest Region. “Mike brings exceptional leadership qualities to ReeceNichols and the HomeServices executive team, and we look forward to continuing to work with him in the months and years to come.”

© 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.

HomeServices of America Acquires Berkshire Hathaway HomeServices Ambassador Real Estate

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Berkshire Hathaway’s HomeServices of America has acquired Berkshire Hathaway HomeServices Ambassador Real Estate as well as an ownership interest in Ambassador Title Services. Financial terms of the transaction were not disclosed.

Headquartered in Omaha, Nebraska, Ambassador Real Estate serves the Omaha, Lincoln, Council Bluffs, Fremont, and Dundee communities with 630 sales associates operating in five sales offices. In 2017, Ambassador closed more than $2.1 billion in sales volume.

Led by its president Vince Leisey, Ambassador Real Estate has experienced year-over-year market-share growth and is widely recognized for its progressive and collaborative culture. In 2017, the company was ranked in Entrepreneur Magazine and CultureIQ’s Top Company Cultures list as the 12th best company culture in the United States in the large-company category.

Leisey is among the real estate industry’s most recognized and charismatic leaders and is known for his inspirational leadership style and approach to driving employee and agent engagement and productivity through one-on-one coaching, teamwork, and communication. Along with his existing executive team and sales managers, he will continue to lead Ambassador Real Estate’s strategic planning and growth initiatives as well as manage the company’s day-to-day operations.

“I am thrilled to join HomeServices’ family of companies. When you combine the exceptional culture that is the core of Ambassador’s productivity and success with HomeServices’ commitment to delivering exceptional service to its buyers and sellers and its unsurpassed growth opportunities, there is no limit to what we can accomplish,” said Leisey.

“Vince brings strategic vision, an innovative spirit and proven leadership qualities and, together with his team of sales managers and agents, has built an extraordinary organization,” said Ron Peltier, HomeServices’ chairman and CEO.

“Developing strategies that drive innovation and productivity across HomeServices’ family of companies is key to our mission of delivering value to our agents and consumers,” added Peltier. “We look forward to working with Vince and his team and are very proud to welcome them to HomeServices.”

The acquisition further expands HomeServices’ presence in the Omaha and Lincoln, Nebraska markets, which include Omaha-based CBSHOME and Lincoln-based Woods Bros. Realty and HOME Real Estate. They will continue to operate as independently-branded companies in their respective markets.

With this transaction, HomeServices has nearly 43,000 real estate professionals operating in nearly 900 offices across 30 states. In 2017, the company’s associates facilitated over $137 billion in residential real estate sales and nearly 360,000 transactions (including the 2017 and 2018-to-date acquisitions pro-forma), further strengthening HomeServices’ position of becoming the nation’s largest real estate brokerage company based on transactions.

© 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.

HomeServices of America Acquires Largest Private Residential Real Estate Company in Texas

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Berkshire Hathaway’s HomeServices of America, Inc. has acquired the Ebby Halliday Companies, the largest private residential real estate company in Texas by sales volume.

The acquisition includes Ebby Halliday’s three real estate brands—Dallas-based Ebby Halliday, REALTORS® and Dave Perry-Miller Real Estate along with Fort Worth-based Williams Trew Real Estate—and their affiliated mortgage and title companies. Ebby Halliday’s portfolio of companies will continue to operate under their current brand names.

Financial terms of the transaction were not disclosed.

Headquartered in Dallas, Ebby Halliday Companies serves metropolitan Dallas-Fort Worth and surrounding communities with approximately 1,800 sales associates and staff operating in 35 offices across 12,000 square miles in North Texas. Ebby Halliday is the 12th largest residential real estate company in the United States by sales volume and the 17th largest by transaction sides, according to the 2017 REAL Trends 500 report. In 2017, the company closed $8.0 billion of sales volume.

Founded in 1945 as a one-woman, one-office firm by industry visionary Ebby Halliday, the firm has grown to become one of the nation’s foremost full-service real estate companies. The Ebby Halliday name is synonymous with providing clients the highest level of customer service, local expertise and resources, all delivered by a team of knowledgeable agents using the firm’s innovative technologies. Mary Frances Burleson, president and CEO and Ron Burgert, the company’s chief financial officer will continue to lead the firm’s strategic growth initiatives and manage day-to-day operations together with their sales management teams.

Also announced was the formation of the Ebby Halliday Foundation. Building on a lifetime of service by the foundation’s namesake and the simple saying she lived by, “Do something for someone every day,” the nonprofit organization will continue Ebby’s legacy of service to North Texas.

© 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.

ReeceNichols Real Estate Number One for 17th Consecutive Year

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ReeceNichols Real Estate, a Berkshire Hathaway affiliate and a wholly owned subsidiary of HomeServices of America, was ranked number one in the Kansas City Business Journal’s “Top Area Residential Real Estate Firms” list for the 17th consecutive year.

The company had $4.78 billion in closed residential volume in 2017.

ReeceNichols has over 2,300 REALTORS® operating from 18 offices in the metropolitan area and 29 franchise offices across Kansas and Missouri.

“We attribute our continued success to our commitment to providing our agents with innovative programs and resources,” CEO Linda Vaughan said. “By equipping our over 2,200 agents with the tools they need to succeed, we are able to best serve the people of Kansas City — an honor we don’t take lightly. In 2017, we added resources allowing agents to use our data to generate and convert more leads than ever before and created a revamped mentorship program.”

In addition, five ReeceNichols Alliance office locations made the “Top Area Residential Real Estate Firms” list. Fourteen ReeceNichols agents and teams earned spots on the “Top Residential Real Estate Agents and Teams” list, including the top two spots. Reece Commercial Real Estate also ranked #10 on the “Top Area Commercial Real Estate Firms” list and #8 on the “Most Active Commercial Real Estate Firms” list.

“Our agents guided more than 17,000 Kansas City families through their home ownership journeys in 2017,” President Mike Frazier said. “We look forward to continuing this tremendous growth in 2018 — in the first quarter alone, we’ve introduced automated marketing services, a comprehensive social media academy and additional Certified ReeceNichols Consultant courses. These offerings, alongside our state-of-the-art website and cutting-edge tools, allow ReeceNichols agents to better serve the people of Kansas City and beyond.”

© 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.

HomeServices of America Acquires Largest Private Residential Real Estate Company in the United States

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Berkshire Hathaway’s HomeServices of America, Inc. has acquired The Long & Foster Companies, Inc., the largest private residential real estate company in the United States by sales volume.

The acquisition includes Long & Foster’s family of companies, including Long & Foster Real Estate and its market-leading affiliated business lines in mortgage, settlement services, insurance, and property management. Financial terms of the transaction were not disclosed.

In 2016, Long & Foster Real Estate had nearly $29 billion in sales volume and more than 81,000 home sale transactions; Prosperity Mortgage originated $3.3 billion in home loans, representing nearly 12,000 mortgages; Long & Foster’s settlement services companies closed over 20,000 title and escrow transactions; and Long & Foster Insurance issued approximately 8,300 property and casualty insurance policies.

Headquartered in Chantilly, Virginia, Long & Foster Real Estate is the largest independent residential real estate brand by volume and the second largest independent brand by units according to the 2017 REAL Trends 500 report.

The company has approximately 11,000 agents in over 230 offices serving buyers and sellers in major markets across the Mid-Atlantic and beyond, including Virginia, Maryland, the District of Columbia, West Virginia, North Carolina, Pennsylvania, Delaware, and New Jersey.

Founded in 1968 by Wes Foster and Henry Long, Long & Foster’s family of companies has grown to become one of the nation’s foremost real estate and financial services companies. The Long & Foster name is synonymous with providing clients the highest level of customer service, local expertise, and resources, all delivered by a team of knowledgeable agents using the firm’s renowned innovative technologies and data-driven insights.

Wes Foster will remain with the company as Chairman Emeritus. Jeff Detwiler, Long & Foster’s current president and chief operating officer, will assume the role of chief executive officer and, together with the existing team of enterprise and business line leaders, will oversee growth initiatives and continue to manage day-to-day operations.

© 2017 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 Commercial’s Efi Luzon Named the #2 Individual Sales Agent for Transaction Volume in REAL Trend’s “The Thousand”

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Efi Luzon, senior vice president of Intero Commercial was recently named the number two individual sales agent for transaction volume in the nationwide REAL Trend’s “The Thousand” announced on June 23, 2017.

David Troyer and his team of REALTORS from Intero Real Estate Services’ Los Altos office were named the twenty-seventh team for transaction volume.

The awards program acknowledging the most accomplished one thousand agents was developed in conjunction with the Wall Street Journal, Custom Studios, and REAL Trends, a leading source of analysis and information for the residential and commercial real estate brokerage industry. REAL Trend’s “The Thousand” recognizes individuals and teams who exhibit superior performance, oftentimes, as mentioned on REAL Trend’s website, “nearly 20 times” that of their peers. Categories consist of total number of real estate transactions, total transaction volume, and average sales price, over a year period. The REAL Trend’s “The Thousand” report, verified by an independent third party, reveals Efi’s total transaction volume as $834,574,000 and the Troyer Group’s total transaction volume as $311,727,034.

Efi’s and David’s career performance that led to this recognition comes as no surprise to the many colleagues who have seen firsthand their accomplishments.

After many years of witnessing Efi’s consistent performance in negotiating complex multi-million dollar deals, John Thompson, Intero COO, says, “Efi truly deserves this acknowledgement. The sheer number of successful deals throughout his career in real estate is testimony to Efi’s exceptional negotiation skills, his amazing patience and fortitude, and his ability to understand and expertly manage the intricacies of complicated transactions.”

Intero’s president and CEO, Tom Tognoli, comments, “I watch David and his team with amazement. They’re a powerhouse of resolve and business savvy with every real estate transaction. I am grateful to have such accomplished REALTORS and teams as part of Intero. Efi and David are models of the type of business ethics and commitment level Intero strives for and comes to expect from every realtor. We couldn’t be happier for all our agents that made the list!”

Additionally, Intero Real Estate saw many more of their own agents recognized this year in “The Thousand.” “We would also like to acknowledge other exceptional individuals and teams from Intero that made the top 1000,” Tom Tognoli continues. “We’re so proud of each and every one, and we will continue to support them all to keep reaching significant milestones in their careers at Intero.”

Agents and teams from Intero who cleared the top 50 of the prestigious The Thousand:

∙ #2 Individuals by Transaction Volume Efi Luzon
∙ #27 Teams by Transaction Volume The Troyer Group

Intero individual agents and teams who made The Thousand’s top 250:

∙ #162 Teams by Transaction Volume Tse Group
∙ #201 Individuals by Transaction Volume Valerie Mein
∙ #247 Individuals by Transaction Volume Greg Goumas

Intero Real Estate Services is a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc.

© 2017 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 Real Estate Services Agents Receive Recognition at NAHREP”s Top Latino Agents Awards

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Berkshire Hathaway’s Intero Real Estate Services, a wholly owned subsidiary of HomeServices of America, Inc., has announced the recognition several of their associates received at the 2017 National Association of Hispanic Real Estate Professionals (NAHREP)

Top Latino Agents Awards. NAHREP is a purpose-driven organization that is dedicated to a combination of entrepreneurial spirit, cultural heritage, and the advocacy of its members.

There were over six hundred nominations this year, and we are proud that our agents finished strongly in a number of categories.

Erika Carrasco and Joe Velasco finished in the Top 250 in the units sold category.

Finishing in the Top 100 in sales volume were Erika Carrasco and Carlos Padilla.

The Top 100 California Latino Real Estate Agents list included Erika Carrasco from the Silver Creek office, Joe Velasco from the Saratoga office, Carlos Padilla from the Los Altos office, Juan Barragan from the Livermore office, Juan Jara from the Corona office, and Sirilio Ortiz from the Rancho Cucamonga office.

Tom Tognoli, founder and CEO at Intero said of the award winners, “We are so proud and happy to see our agents recognized for their hard work and dedication to their clients, the industry, and Intero. We could not ask for a better group of people to receive these honors and we thank them tremendously for their commitment to excellence.”

© 2017 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 Real Estate Services Partners With Kukun

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Intero Real Estate Services, Inc., a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc., today announces its partnership with Kukun, an online platform that helps homeowners navigate the home remodeling process.

Available now, Kukun provides all area listings with estimated home renovations costs and the return on investment (ROI) for potential buyers through their website widget on interorealestate.com.

Early results shared through data gathered from the Kukun widget show that the average monthly percentage of homebuyers that check the costs of a home upgrade is 250 percent of the overall listings on Intero’s site, with the most popular renovation estimates being for kitchen and baths, followed by windows and garages. About 12 percent of these users took the next step in searching for contractors for the renovations on Kukun.

“Kukun’s integration gives people more informed buying decisions by providing a transparent view of upgrade expenses and the ROI. With a click of a button, our integration gives the total cost of ownership with estimated renovation costs,” said Raf Howery, CEO and co-founder of Kukun. “Home buyers often want to purchase a turn-key home but can’t afford one in their desired area. Many older homes have the potential to become their dream home with a little TLC, but often fear of renovating causes potential buyers to look elsewhere or remain renters. This is especially true of millennial, first-time buyers who desire to live in big cities and high demand town centers. They often have to purchase an older home that needs work and being able to determine the ROI in real time, allows them to make more educated decisions. By integrating Kukun, homeowners can see exactly what renovation needs to be done, how much it will cost, and what their property will be worth once complete. By informing people, it allows them to make more educated choices.”

Available immediately, all of the real estate listings on Intero Real Estate Services’ website include Kukun’s solution. Future homeowners will also be able to access contractors’ permits in the neighborhood, so they can find vetted contractors who are referenced by neighbors. This eases the pain point for many homeowners of being concerned if the contractor they select is credible.

“As a forward thinking real estate company, we’re excited to continue to advance our services through technology to make the home buying and selling experience better and more transparent,” said Tom Tognoli, Intero President & CEO. “By integrating the Kukun solution into every listing on our website, we can bring extreme value to both consumers and our own agents.”

Kukun is building the bridge between the construction, real estate, loan and retail industries by creating an orchestration platform that accompanies the customer on their home renovation journey from knowing their estimated costs to completing their renovation.

© 2017 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.

Real Living Real Estate Touts Industry-Leading Customer Satisfaction Rating

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Berkshire Hathaway’s Real Living Real Estate has announced that its agents received a 97% customer satisfaction rating for 2016, according to independent ratings service, Quality Service Certification, Inc.
(QSC).

This is the second consecutive year the brokerage network scored 97%.

Through Real Living’s innovative Real Living 360 Service® program, the network asks customers to candidly rate the performance of their sales agent. QSC administers and validates these customer service satisfaction results following closed transactions for participating agents.

“The high ratings are a real win for our brand, especially when coupled with Real Living Real Estate recently being named Real Estate Agency Brand of the Year and Most Trusted Real Estate Brand in the 2017 Harris Poll EquiTrend® Study,” said Robert McAdams Jr., president of Real Living. “We are most trusted because of the industry-leading
service we consistently provide to buyers and sellers.”

The latest results from QSC place Real Living at the top of the real estate industry for customer satisfaction, based on responses from thousands of home buyers and sellers. A full 92% of buyers reported being very satisfied with the buying process and service provided by Real Living network professionals, while 89% of sellers said they were very satisfied with the selling process. In the latest report from the National Association of REALTORS®, only 60% of buyers said they were very satisfied with the buying process and service provided by their real estate professional while 61% of sellers said they were very satisfied with the selling process.

“Sharing performance guidelines and expectations speaks volumes about how genuinely we care about giving everything we can to our buyers and sellers,” said Lou Ann Pittman, director of relocation services at Real Living Pittman Properties. “Real Living 360 Service is not just a trade tool; it is a lifestyle our agents have developed and continue to improve upon each and every day in order to be the very best in the industry.”

Gino Blefari, CEO of HSF Affiliates, congratulated Real Living on the network’s industry-leading scores. “As the latest numbers show, Real Living network agents continue to deliver quality service year after year,” said Blefari. “This 97% overall satisfaction rating further proves the network’s dedication to only the very best in customer
care.”

Real Living Real Estate is a network brand of HSF Affiliates LLC, which is majority owned by Berkshire Hathaway’s HomeServices of America, Inc.

© 2017 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 Real Estate Services Recognized with Leading RE Awards

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Intero Real Estate Services, Inc., a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc, received recognition at the Leading Real Estate Companies of the World annual Awards Gala on March 2, 2017 in Miami.

Leading RE is a global community of more than 550 high quality independent real estate firms with offices around the world.

Intero serves Northern California with 16 offices throughout the greater Silicon Valley. The Intero Franchise network is comprised of nearly 50 affiliates located in Alabama, Arizona, California, Nevada, Tennessee and Texas. The company is headquartered in California’s Silicon Valley.

In addition to the awards received, Intero collected a record number of nominations this year. The dedication Intero applies to excellence in real estate is reflected not only by devoted and skilled associates, but also Intero as a whole for its outstanding accomplishments in 2016.

Intero was one of the recipients of the Top Five Outgoing Closers Award, given to companies with the highest volume of property sales. Having received this award, Intero has accepted its position by improving outgoing referral equivalent closings by 217% in 2016, as well as continuing its commitment to offering unparalleled service and advocacy for their clients. In addition, Intero also received the Momentum Club Award from LeadingRE for its continued efforts in expanding its scope of influence in their field.

Tom Tognoli, President and Chief Executive Officer at Intero says of the awards received, “The dedication our agents put forth in order to not only service our clients, but also giving their time and expertise to the greater community of real estate professionals is something we take great pride in. And, this year, we are very happy to see one of our own acknowledged for her outstanding contributions.”

Diana McGrogan, Director of Relocation at Intero, was acknowledged individually by receiving the President’s Service Award. Her efforts on behalf of Intero and her clients is well-recognized not only by her co-workers and customers, but also by receiving this esteemed accolade from LeadingRE. Diana works hard for her clients, ensuring they are represented by only the most dedicated agents and brokers.

Diana says of her award, “It’s been a great opportunity to work at Intero, and having received this award. Being a member of Leading RE’s Relocation Advisory Council, I recognize the importance of working with our associates out in the field.” Diana continues, “Our team at Intero has received these recognitions not only through our individual contributions, but by working together to achieve our company goals.”

© 2017 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.