HomeServices of America Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Harry Norman, Realtors, an Atlanta-area full-service real estate firm that offers brokerage, mortgage, title and insurance services.
The 76-year-old Harry Norman, Realtors company is the third-largest residential real estate firm in Atlanta, with 20 offices and about 1,200 realtors. In 2005, the company said it closed about 9,400 transactions with a volume of $3.6 billion.
HomeServices entered the Atlanta market in 2001 with the acquisition of Jenny Pruitt & Associates, Realtors. Harry Norman, Realtors and Jenny Pruitt will operate as independent brands, according to the company announcement.
HomeServices has real estate brokerage operations in 19 states and 21,000 sales associates are affiliated with its companies.
HomeServices has also acquired the Harry Norman, Realtors’ interests in Academy Financial Services, Heritage Title and HN Insurance, according to the announcement. Academy Financial Services, a full-service mortgage lender, closed $239 million of mortgage volume in 2005 and Heritage Title, a title agency, handled about 1,700 transactions. HN Insurance offers homeowner’s and personal lines insurance products.
“Our goal is to partner with companies that are market leaders and also have a heritage of operational excellence,” said Ron Peltier, president and chief executive officer of HomeServices. “We are honored with the opportunity to continue the great legacy of the late Harry Norman Jr. the founder of Harry Norman, Realtors.”
Lewis Glenn, president and CEO for Harry Norman, Realtors, said in a statement, “Our decision to partner with HomeServices is strategic because it will protect and strengthen our brand, build on our legacy and preserve the integrity of our operating principles.”
He added, “The ability to grow our brand within the Atlanta market while benefiting from the depth and breadth of a national entity like HomeServices is a win-win for our customers, our associates and our employees.”
HomeServices of America Inc., based in Minneapolis, Minn., is the second-largest home services provider in the United States. HomeServices’ operating companies offer integrated real estate brokerage services, mortgage lending, title insurance, closing services, property and casualty insurance, home warranties and other home services.
HomeServices real estate brands include: Carol Jones Realtors, CBSHOME Real Estate, Champion Realty, Edina Realty, Esslinger-Wooten-Maxwell Realtors, First Realty/GMAC, Harry Norman, Realtors, HOME Real Estate, Huff Realty, Iowa Realty, Jenny Pruitt and Associates Realtors, Long Realty, Prudential California Realty, Prudential Carolinas Realty, RealtySouth, Rector-Hayden Realtors, Reece & Nichols, Roberts Brothers Inc. Realtors, Semonin Realtors and Woods Bros. Realty.