HomeServices of America Acquires 5 Companies

(BRK.A), (BRK.B)

Berkshire Hathway’s HomeServices of America, Inc., the nation’s largest homeownership company, has announced that it 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 northern 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.

© 2022 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 a 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.

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