BrokerageIndustry News

HomeServices enters Pacific Northwest market

Prudential Northwest will keep name, leadership team in acquisition

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Berkshire Hathaway affiliate HomeServices of America Inc. has acquired Prudential Northwest Properties, a firm with nearly 500 agents based in Portland, Ore., that handled nearly $900 million in sales in Oregon and Washington in 2011. Prudential Northwest Properties will keep its name and remain a franchisee of Prudential's U.S. real estate network, which was acquired by Canadian-based Brookfield Residential Property Services in December. President and CEO Jason Waugh will continue in that position, running the brokerage's day-to-day operations along with the current leadership team. His father, Bert Waugh Jr., will continue as the company's chairman.The acquisition is HomeServices' first foray into the Pacific Northwest market, and will serve as the foundation for further expansion, said HomeServices Chairman and CEO Ron Peltier."We're very excited about it. Prudential Northwest is a company we've highly valued and respected as a good player and operator for many years," Pel...