BOARDMAN - Brookfield Asset Management and HomeServices of America Inc., a Berkshire Hathaway affiliate, formed a joint venture that will operate the affiliate networks of Prudential Real Estate, Real Living Real Estate and the future brand Berkshire Hathaway HomeServices.
"Berkshire Hathaway Home Services joins the existing brands and affiliate networks of Real Living Real Estate and Prudential Real Estate, with the financial strength of Berkshire Hathaway and the operational excellence of HomeServices," said Richard Volpini, president of Real Living Volpini Realty Group.
The combined networks of more than 53,000 Real Living Real Estate and Prudential Real Estate agents generated in excess of $72
billion in residential real estate sales volume in 2011 and operate across more than 1,700 U.S. locations.
"We are honored and proud to be entrusted with the use of the Berkshire Hathaway name as our new real estate franchise brand," said Ron Peltier, chairman and CEO of HomeServices. "We will convey the strength of Berkshire Hathaway's reputation and its associated principles of integrity and financial stability in everything we do."
The combination should enable brokers and affiliates to attract and retain the best agents to provide superior customer service and to drive performance and profitable growth.
"The strength of the Berkshire Hathaway name, coupled with the operational excellence of HomeServices and the franchising experience of Brookfield, positions Berkshire Hathaway HomeServices as a leading real estate franchise in the U.S., building on our traditions of exceptional client service and innovation. Brookfield is excited to be a partner in creating a home for the best real estate brokers and agents in the country," said Bruce Flatt, Brookfield Asset Management CEO.