Berkshire Unit Buys Realty Firm in Louisville

Wakefield Reutlinger Realtors will soon be purchased by HomeServices of Kentucky Inc., current owner of Semonin Realtors.

The effective purchase date is expected to take place in the near future.

HomeServices of America Inc., a wholly-owned subsidiary of Berkshire Hathaway Inc., also owns HomeServices of Kentucky. The current terms of this purchase agreement were not disclosed.

Kenneth Reutlinger Jr. and Thomas Wakefield founded their company Wakefield Reutlinger in 1984. The company’s Louisville office has around 40 agents and staff members, and they also sell higher end homes with an average sell price of approximately $250,000.

According to Business First, it’s one of the world’s largest residential real estate firms, and the company ranked number 24 during 2012 due to the number of local residential real estate transactions closed during that period. They published this list in their March 15 print edition. The company itself had a total of 212 local residential sales, and their average sale price was $263,333. The total amount of their local sales volume during 2012 was $56 million.

Semonin was also on the list, and they appear at number one. In total, they closed 3915 local real estate sales, and their average sale price was $182,663. Their total local sales volume for the year 2012 was $715 million.

“We are extremely pleased that Wakefield Reutlinger Realtors has become part of HomeServices of Kentucky,” Tom Wakefield, principal broker for Wakefield Reutlinger, said in a news release. “Ken Reutlinger and I will remain within the company as active brokers.”

 

The Berkshire Hathaway subsidiary also owns Semonin Realtors. They serve the Louisville area and have over 550 staff members and agents. They also own Rector Hayden Realtors, which has 250 staff and agents serving the Central Kentucky and Lexington area. Let’s not forget that HomeServices of America also owns Huff Realty. They have 525 staff and agents serving the Cincinnati area.

 

The CEO and president of HomeServices of Kentucky, Brad DeVries, mentioned in an interview that he does not think the agents or customers will notice any major difference after the sale.

Wakefield Reutlinger will continue to operate as usual, and they will maintain their company website and brand name.

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