Warren Buffett's take on Real Estate agents today.
Berkshire Hathaway Home Services is on a mission to redefine residential real estate.
What was the announcement today?
HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced today that it has acquired Prudential Rubloff Properties and its subsidiaries, Rubloff Insurance and Sterling Title and joined it with the Koenig & Strey Real Living operations.
The merged companies will become Berkshire Hathaway HomeServices KoenigRubloff Realty Group in spring, 2014.
How large is the new company?
The transaction unites the two companies, creating an organization with nearly 1,600 real estate professionals and staff providing customers throughout the Chicago metropolitan area and surrounding communities with exceptional strength and resources to help them buy and sell their homes.
In 2012, the combined firm closed more than $4 billion in sales volume. Based on historical data provided by MRED, Chicago’s MLS provider, the combined company captures the No. 2 market share position based on volume.
What is the name of the new company?
Koenig & Strey Real Living and Prudential Rubloff Properties will continue to operate under their existing names until spring, 2014 when the combined company transitions to become Berkshire Hathaway HomeServices KoenigRubloff Realty Group.
Why is KoenigRubloff one word and not two separate names?
The decision to represent the local brand with a unified name conveys the combined strength of these renowned companies and mirrors the way that our parent company, HomeServices of America, is presented.
When will the merger officially take place?
The merger is effective immediately. However, in light of the strong presence of both companies in the community, and the need for an orderly and well-planned transition, the combined organization will continue to use the Koenig & Strey Real Living and Prudential Rubloff Properties names until they officially rebrand and launch Berkshire Hathaway HomeServices KoenigRubloff Realty Group in spring, 2014. Buyers and sellers will interact with their agents just as before, with no change or interruption.
Frequently Asked Questions
Press Release: HomeServices of America
Berkshire Hathaway Home Services Overview