Berkshire Hathaway HomeServices plans to be real estate industry game changer in La Jolla and nationally

HomeServices of America, Inc., a Berkshire Hathaway affiliate, and Brookfield Asset Management announced they have partnered to introduce Berkshire Hathaway HomeServices, a new franchise brand that joins the existing brands and affiliate networks, including Prudential Real Estate nationwide.

The announcement signals a defining moment in real estate, according to the partners, who stated via a press release that, “It unites the strengths of two industry leaders, bringing together unparalleled operational excellence, innovation and integrity.

“With a vision to become the most respected and valued company in the real estate market, this powerful new network will exemplify the reputation of Berkshire Hathaway — among

Fortune’s

2012 most admired companies — in the real estate space.”

Prudential California Realty, a wholly owned company of HomeServices, stated it is honored to be part of the game-changing strategy. “The power of HomeServices and Berkshire Hathaway is unmatched in our industry. The national and international reach for our sales associates will be unparalleled,” said David M. Cabot, president/CEO.

Leeann Iacino, COO of Prudential California Realty, added: “This announcement represents an extraordinary opportunity for our clients, and our sales associates, that is second to none. We are so proud to be associated with the combined strength that Berkshire Hathaway and HomeServices represents in this real estate industry game-changing announcement.”

Since the inception of HomeServices 15 years ago, it has been an ongoing plan to grow as a national brand; this escalates the opportunity. HomeServices will continue to identify companies for acquisitions in other markets locally, nationally and internationally.

With almost 3,000 sales associates in 60 offices across Southern California and the Central Coast, Prudential California Realty represented more than $9 billion in sales volume in 2011.

HomeServices of America represented almost $32 billion in residential real estate sales with 114,500 transactions in 2011 and closed more than $3 billion in home mortgages.

Information about Berkshire Hathaway HomeServices is available at

berkshirehathawayhs.com