Twin Cities-based HomeServices of America now has another of New Jersey’s top real estate agencies.
HomeServices, the giant national real estate holding company that owns Edina Realty, said Thursday it has acquired Berkshire Hathaway HomeServices New Jersey Properties.
The company is headquartered in Martinsville, NJ, and has 19 locations and more than 800 agents, primarily in northern and central New Jersey.
Since 2014, the company has been an independent franchisee of HomeServices, but will now be a wholly owned company. Terms of the agreement, which includes the New Jersey company’s Associated Title Agency, were not disclosed.
Last year, its agents closed nearly 3,900 transactions worth $2.25 billion, making it one of the top 5 brokers in New Jersey and one of the largest in the network. of Berkshire Hathaway HomeServices franchises.
“We are committed to the continued growth and success of Berkshire Hathaway HomeServices New Jersey Properties, and we are proud to welcome them to the HomeServices family,” Gino Blefari, CEO of HomeServices, said in a statement.
In New Jersey, the company already owns Fox & Roach Realtors, which it acquired in 2013, and Long and Foster Real Estate, which it acquired in 2017.
HomeServices, a subsidiary of Warren Buffet’s Berkshire Hathaway, has expanded its presence across the country targeting well-established local brands. Unlike some real estate holding companies, local branding and leadership is generally retained.
HomeService’s most recent major acquisitions came in January, when it acquired four brokerages, including one that was renamed Edina Realty. These companies, which are scattered across the country, had a combined sales volume of $7.7 billion in 2021.
Including the latest transaction, HomeServices has nearly 46,500 real estate employees in nearly 925 offices in 33 states.