Just one year after adding its first affiliate, the Berkshire Hathaway HomeServices franchise announced that it will add its 1000th office to the affiliate network. The 1st affiliate is Prudential California Realty, based out of Torrance, California. When the company transitions to the Berkshire Hathaway HomeServices brand, the real estate agencies under the Berkshire affiliate banner will reach the four figure mark.
Berkshire Hathaway’s affiliate HomeServices of America laid out the groundwork for the new Berkshire brand back in 2012 when it bought controlling interest in Prudential Real Estate and Real Living brands from the company Brookfield Asset Management.
The new franchise, Berkshire Hathaway HomeServices, welcomed the first brokerage into the fold on September 23, 2013, Prudential California Realty based out of San Diego. The company has been on a growth tear since then and now has a presence in 47 states.
“Berkshire Hathaway HomeServices achieved a tremendous first year yet no one is satisfied,” said Stephen Phillips, BHHS president. “Our vision is to become the most respected homeownership services brand in the US and worldwide, and our work continues with even greater focus.”
In March 2014, Berkshire Hathaway HomeServices launched its first marketing campaign. They even have a national TV ad.
This new brand was created partially to help accommodate the brokerages affiliated with Prudential Real Estate, which is set to close completely when the final rights to use the name expires in the 2020s. The terms of this transition are spelled out in Brookfield’s 2011 brand purchase agreement.
Gino Blefari, founder of Intero Real Estate, will succeed the current CEO Earl Lee, head of HSF affiliates Inc., BHHS’s parent company, on January 1, 2015. The company also plans to begin their international expansion in 2015 as well.