At a recent event at the High Museum, we learned that Berkshire Hathaway HomeServices had a recent addition to the team in Prudential Georgia Realty.
At the event, there were more than 900 local dignitaries, corporate leaders and agents among the special guests at the big celebration.
December 10, 2013 was the official date that the popular Georgia Realty converted to the Berkshire Hathaway brand. Its new name is Berkshire Hathaway HomeServices, Georgia Properties. Its aim is to service the luxury markets of North Atlanta and Buckhead.
Berkshire Hathaway – Warren Buffett’s holding company – offers the Prudential company an immediate way to enter into the luxury market. HomeServices of America is one of a number of Berkshire Hathaway owned affiliates, and it’s been quite active in its acquisition of residential brokerages.
This past August, it bought Philadelphia’s Prudential Fox and Roach Realtors, which happens to be the largest real estate company in the Philadelphia area. It also acquired Jenny Pruitt & Associates in 2001 in the Atlanta area, as well as Harry Norman, Realtors in 2006. The company even tried to buy Prudential Georgia Realty around 10 years ago without success. Berkshire renewed its purchasing interest as the housing market began to rebound in 2012. The two companies came to an agreement in March 2013.
This will be Berkshire Hathaway HomeServices first aggressive rollout in the market in Atlanta. Expanding into the luxury market is a bold move, where it will have to compete against the Harry Norman brand, as well as Beacham & Company, Realtors; Dorsey Alston, Realtors; and Atlanta Fine Homes Sotheby’ International Realty, among others.