The second largest real estate company in the country is getting bigger. Mega-brokerage HomeServices of America, Inc. expands operations into two more states with its acquisition of Prudential Carolinas Realty, announced today. An affiliate of Warren Buffet’s Berkshire Hathaway, HomeServices will have operations in 18 states. Prudential Carolinas has 16 offices and 750 sales associates and posted $2.3 billion in sales volume in 2003.
Prudential Carolinas has had a focus on the Greensboro, Winston-Salem, Kernersville, High Point, Raleigh, Durham, Chapel Hill, Cary, Charlotte, Lake Norman areas of North Carolina and the Rock Hill and Lake Wylie markets of South Carolina, according to a HomeServices announcement. Along with Prudential Carolinas, HomeServices also acquires Professional Home Mortgage Lenders and Preferred Carolinas title Agency.
Ron Peltier, HomeServices president and CEO, said, “We are excited to expand our footprint to the Carolinas. I believe North Carolina has its best years ahead of it and we are poised to be part of the growth and success.” With the addition of the Prudential Carolinas business, HomeServices’ combined annualized sales volume is projected to exceed $51 billion, with more than 195,000 transaction sides across 18 companies.
Robert Helms Sr., president and CEO of Prudential Carolinas, said, “The strength of HomeServices will enable us to offer expanded products and services to our customers, enhancing the one-stop shopping experience.”
HomeServices and Prudential Carolinas Realty have extended a franchise agreement through 2014. Earl Lee, president of Prudential Real Estate Affiliates, Inc., said the franchise agreement will ensure “that Prudential Real Estate will remain a market leader in North Carolina for years to come.” With this acquisition, HomeServices now maintains 18 brands.
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