The Omaha tycoon referenced more acquisitions for the brokerage firm over the next 10 years
In Warren Buffett’s 2016 investor letter released this past weekend, the folksy tycoon called out HomeServices of America (HSA) and said to expect more acquisitions.
The company had $225 million in earnings last year, up from $191 million in 2015.
HSA is part of Berkshire Hathaway Energy.
“HomeServices may appear out of place in [this group]. But it came with our purchase of MidAmerican (now BHE) in 1999 — and we are lucky that it did.
“HomeServices owns 38 realty companies with more than 29,000 agents who operate in 28 states. Last year it purchased four Realtors, including Houlihan Lawrence, the leader in New York’s Westchester County (in a transaction that closed shortly after yearend),” wrote Buffett.
“In real estate parlance, representing either a buyer or a seller is called a ‘side,’ with the representation of both counting as two sides. Last year, our owned Realtors participated in 244,000 sides, totaling $86 billion in volume.
“HomeServices also franchises many operations throughout the country that use our name. We like both aspects of the real estate business and expect to acquire many Realtors and franchisees during the next decade.”
HSA owns real estate brokerages, mortgage companies, settlement service providers, insurance companies, corporate relocation and affiliated businesses and is the majority owner of the Berkshire Hathaway HomeServices, Real Living Real Estate and Prudential Real Estate franchise networks.
Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052
With over 30 years of experience helping families call Las Vegas "home!"
Related Blog Posts
Purchases of new U.S. homes unexpectedly increased in March to an eight-month high, indicating housing demand remained strong at the start of the spring buying season, Commerce Department data showed Tuesday. Key Points Single-family home sales increased 5.8 percent to a 621,000 annualized pace (median forecast...
Most real estate investors follow the latest fads when determining what they will buy. They usually focus on short term gains rather than the overall big picture, and tend to buy in environments of economic euphoria rather than environments of economic doom and gloom. They go with the herd mentality. Warren Buffet’s...
While dealing with raw land in Cold Creek, I received a call from a gentleman who was interested in one of my listings. He had been referred to me by his sister, another agent at another company, who had worked with me when I took my first Cold Creek listing. We met at a Starbuck’s, where I provided him map...
Five Las Vegas Valley communities cracked the top 50 nationally for new-home sales last year, new reports show. Leading the pack locally was Summerlin, where builders sold 1,052 homes, up 37 percent from 2016, according to separate reports this week from two firms, RCLCO and John Burns Real Esta...
Unfortunately as of February 14, 2013, this promotion has been discontinued. Credit is NOT an issue! The developer of The Modern, luxury loft condominium residences, is currently offering a fantastic incentive for buyers. With just 10% down, they can purchase a spectacular brand new condo residence with state-of-the-...