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
Nationwide, US homeowners could spend up to $15,190 in hidden costs when selling their home, according to a new analysis from Zillow and local services marketplace Thumbtack.These hidden costs could come as a surprise, as 63% of today’s sellers are selling their homes for the first time.Home improvements“Mo...
Bark in the ParkMarch 8, 201410:00 AM - 3:00 PM Join The City of Henderson Parks and Recreation department as they celebrate the 11th anniversary of Bark in the Park. Bark in the Park activities will take place at one of Henderson’s newest parks, Cornerstone Park. Expect five hours of fun for you and your pet. B...
I had the pleasure of meeting Lamberto Valdez and his Wife on short notice as they pulled into Las Vegas with no knowledge of the Las Vegas Market. They told me that the last Realtor they met didn't show them any other areas but the Strip. I had them get into my car and off we went to view all of Las Vegas has to...
'Where in Canada can you buy a $50,000 property and rent it for $1,000 a month?' was the lead-in for an article on the Las Vegas real estate market in the Montreal Gazette this past Friday. The article implied that paying $50k for a property and being able to lease it out at $1k per month was easy in Las Vegas and othe...
We are truly excited to announce the launch of our newly redesigned web site at www.GreatLasVegasHomes.com. The new site has much more information on specific housing communities and condo developments, with on-page statistics for high, low and median prices within each community and direct links to listings by price r...