Warren Buffett's real estate network enters Central Pa. market
Manor Township-based Prudential Homesale Services Group has joined Warren Buffett's international real estate network, Berkshire Hathaway HomeServices.
The midstate's largest residential brokerage, according to Business Journal records, will change its name in early June to Berkshire Hathaway HomeServices, Homesale Realty, the company said today.
"They're demonstrating to us all their belief in a healthy real estate industry. We're fortunate to be part of that," said Doug Rebert, Prudential Homesale's co-founder and managing director. "The world's most respected company believes in real estate, believes in our company, and wants to invest in our company."
Buffett's worldwide holding company, Berkshire Hathaway Inc., controls the broker network. Its first offices opened in September 2013. Since then, more than 600 offices with more than 24,000 real estate agents have joined or are in the process of joining.
It's a network of the top real estate brokers in the country.
The change for Rebert's group will affect about 700 agents in Central Pennsylvania and about 1,150 in total. He said June 4 is the target date for the transition.
The Lancaster County-based company is the only network member in this region.
"It's fresh and it's new. It's a franchise for today and in the future," Rebert said, citing state-of-the-art mobile technologies and an enhanced social media process.
The company closed more than 13,000 transactions and more than $2.5 billion in closed-sale volume last year, he said. Prudential Homesale has 28 offices that serve 11 counties in Pennsylvania, plus Maryland's Baltimore city and county as well as Carroll County.
Berkshire Hathaway employs nearly 300,000 people and owns more than 35 companies.
Berkshire's HomeServices of America unit is the majority owner of Prudential Real Estate.