Tag: HomeServices of America

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Acquisitions HomeServices of America

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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HomeServices of America

Intero Partners With Sunnova to Provide Solar and Storage Solutions

(BRK.A), (BRK.B)

Berkshire Hathaway’s Intero, a wholly owned subsidiary of HomeServices of America, Inc., has partnered with Sunnova Energy International Inc. to provide Intero clients with easy access to reliable solar and energy storage solutions.

With continued stress on the energy grid and the increased adoption of battery-powered vehicles, residents throughout the Bay Area are actively searching for reliable energy solutions. This new partnership will allow Intero agents to help their current and past clients quickly connect with Sunnova so they can receive the unrivaled service that is synonymous with Sunnova’s brand.

“At Intero, we help our agents extend their client relationship beyond the transaction,” said Scott Chase, Chief Operating Officer of Intero. “Our goal is to provide partnerships that differentiate our agents from the competition and improve the client experience. Our local power grid is old and unreliable and anyone who has lived here long enough has experienced outages. New home owners want lower energy costs, back-up battery power and EV charging. After researching this space, it became crystal clear Sunnova was the obvious choice to help us deliver on these concerns.”

“California is a key market for Sunnova, and we look forward to providing Intero’s clients with a convenient clean energy service that can improve the value of their home and help power their energy independence,” said Michael Grasso, Executive Vice President, Chief Marketing and Growth Officer at Sunnova. “With continued blackouts and brownouts due to wildfires in California, now more than ever before new homeowners need reliable and resilient energy services to live life uninterrupted.”

Sunnova can help Intero clients with the following services:

• Home Solar
• Home Solar + Battery Storage
• Home Solar + EV Charger
• Add-on Battery Storage
• Home Solar Protection

© 2021 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.

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Acquisitions HomeServices of America

Berkshire Hathaway’s HomeServices of America Adds 400 Agents With Latest Acquisition

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Berkshire Hathaway’s HomeServices of America, Inc. has acquired of Berkshire Hathaway HomeServices Hudson Valley Properties, the leading real estate company in the Mid-Hudson Valley market for 29 consecutive years.

Financial terms were not disclosed.

Founded in 1980 by Steven Domber and headquartered in LaGrangeville, New York, Berkshire Hathaway HomeServices Hudson Valley Properties serves the counties of Dutchess, Ulster, Orange, Columbia, Putnam and Westchester with more than 400 agents in 13 offices.

For the 12 months ending in June 2021, Hudson Valley Properties closed nearly 4,300 units representing $1.53 billion of sales volume, earning more than a 24% market share.

The company originally joined the Berkshire Hathaway HomeServices network as an independent franchisee in 2014, and with this transaction, joins the HomeServices of America family of wholly owned companies.

Hudson Valley Properties ranks #303 among top 350 real estate brokerages in the United States and is a member of the prestigious Berkshire Elite Circle, ranking #31 in the top 50 brokers of the network worldwide. Domber, founder and president of Berkshire Hathaway HomeServices Hudson Valley Properties, is active in the real estate industry on both the state and national levels. He will continue in his current role as president running the day-to-day operations along with his sales management and leadership team.

HomeServices of America has earned the ranking of the largest real estate company based on closed transactions since 2019.

© 2021 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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Acquisitions Berkshire Hathaway Energy HomeServices of America

Berkshire’s HomeServices of America Acquires Americana Holdings

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Berkshire Hathaway’s HomeServices of America, Inc. has acquired Americana Holdings, one of the largest independently owned and operated Berkshire Hathaway HomeServices franchisees. With the acquisition, HomeServices of America adds nearly 3,000 sales associates in 32 offices in communities throughout Arizona, Southern Nevada, and Orange County.

Americana Holdings operates across three states as Berkshire Hathaway HomeServices Arizona Properties, Berkshire Hathaway HomeServices California Properties, and Berkshire Hathaway HomeServices Nevada Properties.

The acquisition also includes Americana Holdings’ interests in the following title and escrow companies: Legendary Title Agency (Arizona), Legendary Escrow Services (California), and Equity Title (Nevada).

With this transaction, HomeServices has nearly 46,250 real estate professionals operating in more than 900 offices across 32 states.

Financial terms of the transaction were not disclosed.

Americana Holdings joined the Berkshire Hathaway HomeServices network as an independent franchisee in 2014 and with this transaction, now joins the HomeServices’ family of 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.

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).

HomeServices is owned by Berkshire Hathaway Energy, a subsidiary of Berkshire Hathaway.

© 2021 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.

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HomeServices of America Uncategorized

Berkshire’s Intero Continues Expansion in California and Nevada

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Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc., has acquired two Intero franchise locations in Gardnerville, NV and Markleeville, CA. The two locations currently house 26 agents and come with nearly 285 active listings.

Business partners and former franchise owners, Teddy Carlson-McKone and Dennis McDuffee, will transition to the roles of Vice President and Managing Officer of both locations.

“We’re thrilled to continue our growth and reach throughout California and Nevada,” said Brian Crane, Co-Founder and Chief Executive Officer of Intero – a Berkshire Hathaway affiliate. “The Carson Valley and Nevada represent a great opportunity for Intero. Teddy and Dennis and the company they have built represent the best of Intero and we’re proud to bring them on to the corporate team. We look forward to growing our presence in northern Nevada and the Greater Tahoe region with Teddy and Dennis leading the way.”

The attraction to these locations was based on the high-quality agents, their production level, and their stellar reputation within the region. The Gardnerville office has been voted by the public as the #1 Real Estate Office by the local newspaper, The Record Courier, in the annual “Best of Carson Valley” section. They have secured this honor for three years running. In addition, Dennis McDuffee was voted as the top commercial real estate agent for the annual awards.

“We couldn’t be happier with this next chapter in our Intero journey,” said Teddy Carlson-McKone, Vice President and Managing Officer of Intero Gardnerville and Markleeville. “We’ve been part of the Intero family for 10 wonderful years and now it gets even better with the support of the corporate team, HomeServices of America and Berkshire Hathaway.”

Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc., serves Northern California and Nevada with 22 offices throughout the greater Silicon Valley, San Francisco, Calaveras County, Western Nevada and the Greater Lake Tahoe Region. The Intero Franchise network is comprised of 55 affiliates located in Alabama, California, Nevada, Tennessee and Texas. The company is headquartered in the heart of California’s Silicon Valley.

© 2020 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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HomeServices of America

HomeServices of America Appoints Chief Diversity and Inclusion Officer

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Gino Blefari, CEO of HomeServices of America, a Berkshire Hathaway affiliate, has appointed Teresa Palacios Smith as Chief Diversity and Inclusion Officer for HomeServices and its subsidiaries, including its family of brokerage, mortgage, insurance, settlement-services, and relocation companies, and HSF Affiliates, which operates the Berkshire Hathaway HomeServices and Real Living franchise networks.

In her role, Palacios Smith will lead HomeServices’ employee- and agent-diversity programs, cultivate a culture of equity and inclusion, and champion the company’s goal of increasing minority homeownership.

“There’s no place like home. Our home is a place that we associate with acceptance, family, love, safety, and belonging,” said Palacios Smith. “HomeServices exemplifies this and I’m honored to lead the diversity and inclusion efforts of a company that values its people, promotes diversity, equity, and inclusion, and cherishes homeownership and fair housing for all.”

Palacios Smith began her career as a successful real estate agent and served on Berkshire Hathaway HomeServices Georgia Properties’ management team. In 2017, she joined HSF Affiliates as its Vice President of Diversity & Inclusion for the Berkshire Hathaway HomeServices and Real Living franchise networks.

During her more than 20 years in the real estate industry, Palacios Smith has been a national speaker and trainer who has focused on emerging markets, unconscious bias, and real estate trends in diverse market segments. She is serves on the boards of many of the country’s top housing organizations that focus on supporting people from traditionally underserved communities and is recognized for her dedication to expanding and celebrating leadership opportunities in real estate for women. She is a past president of the National Association of Hispanic Real Estate Professionals (NAHREP), one of the largest associations of minority real estate professionals in the country, and a cofounder of the NAHREP’s Atlanta chapter. In 2019, she received the Diversity Leader Award from the National Association of Women in the Housing & Real Estate Ecosystem. In May 2018, she was honored by RISMedia with the Newsmaker award and was inducted, along with HomeServices’ executive chair Ron Peltier, into RISMedia’s Hall of Fame.

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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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HomeServices of America Real Estate

Veteran Realtor Cathy Jackson Returns to Intero

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Berkshire Hathaway’s real estate brand Intero has announced the return of Cathy Jackson as Vice President of Talent Development. In addition to her duties to help progress the education, knowledge and professionalism of Intero’s agent community, Jackson will also assist with the management of Intero’s Los Gatos office.

Intero is a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc., serving Northern California with 18 offices throughout the greater Silicon Valley. The Intero Franchise network is comprised of 55 affiliates located in Alabama, California, Nevada, Tennessee and Texas. The company is headquartered in California’s Silicon Valley.

A respected real estate veteran, Jackson’s career has seen her as a top producer, mentor and cherished teammate wherever she has practiced real estate. Most recently, Cathy was with Compass and prior to that, she was with Sereno Group.

“I am thrilled to be coming back to Intero to take on this exciting new role,” said Cathy Jackson, Vice President of Talent Development. “It will be fulfilling to leverage my real estate knowledge and training experience to help some of the best agents in the business take their careers to another level.”

In addition to Jackson’s new role, she will also assist in the day-to-day operations and management of Intero’s Los Gatos office. She will be a valuable asset to the office with her vast knowledge of the industry, as well as her infectious spirit and desire to build a great culture. If that was not enough on her plate, Jackson will also be continuing her real estate sales business with her son Jamie.

“Cathy is a career real estate professional, with a deep understanding of the business,” said Brian Crane, Chief Executive Officer of Intero. “We are excited to have Cathy and her team join us. Her abundant energy and infectious enthusiasm are what sets her apart as a REALTOR® and leader. As one of the first agents hired at Intero in 2002, we’re excited to see Cathy return home.”

“I am overjoyed to be welcoming Cathy back to the Intero family,” said John Thompson, President of Intero. “I have known Cathy for years and have admired what she has done for the real estate industry as a whole. Having her back on the team continues to strengthen the Intero brand, as Cathy is someone who lives the core values of Intero, and manages every person and situation with professional expertise and personal concern.”

“I’m very excited to have Cathy back at Intero,” said Gino Blefari, CEO of HomeServices of America. “Her return marks an incredible, next chapter of the Intero story. I’m looking forward to working closely with her and the Intero team to achieve ongoing growth, perpetual innovation and long-term prosperity.”

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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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HomeServices of America Real Estate

Intero Promotes Renee Kunz and Adds Chris Moles

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Intero has promoted Renee Kunz to Senior Vice President of Strategic Partnerships. In addition, the company is also excited to introduce Chris Moles as Managing Officer of the Silver Creek office, located in San Jose, California.

Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America Inc., serves Northern California with 18 offices throughout the greater Silicon Valley. The Intero Franchise network is comprised of 55 affiliates located in Alabama, California, Nevada, Tennessee and Texas. The company is headquartered in California’s Silicon Valley.

Renee Kunz is a seasoned real estate professional that has been with Intero since the foundation in 2002 running Intero’s Hollister office. This office under Kunz’s leadership has maintained #1 market share for many years and was recognized as the best real estate office by Best of San Benito County in 2019. She is a third-generation REALTOR® and was inspired by her mother, Marilyn Ferreira, a real estate icon in San Benito County, who has been practicing real estate for almost 50 years.

In this new role, Kunz will be leading the charge with all of Intero’s strategic partners. The current partners include Prosperity Mortgage and Orange Coast Title. This role will continue to evolve as Intero adds additional ancillary services in the future.

“I am so excited about this new opportunity with Intero,” said Renee Kunz, Senior Vice President of Strategic Partnerships. “Having been a licensed broker for more than 30 years and using my knowledge gained from leadership roles from the past and with Intero, I feel I can bring a unique perspective to help elevate our strategic partnerships to new heights.”

“Renee is smart, creative and most of all, she’s a team player,” said Brian Crane, Chief Executive Officer of Intero. “She has consistently demonstrated her ability to collaborate with our existing strategic partners to help grow our capture rates. I look forward to her helping assist our leadership team to deepen our relationships with existing, as well as future partners.”

A real estate industry veteran, Chris Moles has been with Intero for more than 10 years in the role of General Counsel. His counterpart, Heather Wang, will remain at the Cupertino Headquarters in her current role as Corporate Counsel.

Moles brings a wealth of knowledge, skills and pedigree to this new role. In addition to his extensive real estate legal background, Moles has the industry in his blood. His father, Bob Moles, had an illustrious regional and national real estate career and was a co-owner of Intero and his late uncle, Kevin Moles, was one of the founding members of Intero, opening the first Intero office in Morgan Hill, California.

“I was seeking a more active role on the sales side of the real estate business,” said Chris Moles, Intero Managing Officer. “I am so excited by this new opportunity and can’t wait to jump in with both feet to help our Silver Creek agents become the best in the business.”

“Chris has been a huge asset to Intero and Intero agents over the years as our General Counsel,” said Brian Crane, Chief Executive Officer of Intero. “Chris is the ideal person to help our REALTORS® in Silver Creek grow and build successful careers.”

© 2020 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.

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HomeServices of America Real Estate

Intero Introduces a Designer-Curated Home Preparation Service with No Upfront Costs

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Berkshire Hathaway’s real estate brand, Intero, a Berkshire Hathaway affiliate and wholly owned subsidiary of HomeServices of America, Inc. has introduced PINNACLE, a premium designer-curated home preparation service with zero out-of-pocket cost to sellers until their home closes escrow.

Available for clients working with an Intero agent, PINNACLE provides vast, customized home-preparation options, including, but not limited to, cosmetic updates, general repairs, professional staging services, window treatments, landscaping, decluttering and moving and packing services.

Sellers who opt into Intero’s PINNACLE program will interface with their own project coordinator. These project coordinators do the work of assessing what needs to be done, and coordinate the job from start to finish with local contractors. The program also stands out for providing tailored relocation services to seniors who need additional support when moving.

“We’re proud to bring the PINNACLE program to the market,” said Brian Crane, Chief Executive Officer of Intero. “The PINNACLE program gives Intero agents and clients a progressive and effective tool to enhance the condition of the home prior to going to the market, without the upfront out-of-pocket expense. This PINNACLE program is a true differentiator in the marketplace for Intero and will add to Intero’s ability to help seller clients achieve the best results.”

The PINNACLE program is available today for any seller with a signed listing agreement with an Intero sales associate.

© 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.

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HomeServices of America Real Estate

Intero Launches Intero Capital Markets

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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.