Berkshire Hathaway affiliate HomeServices of America Inc. has expanded its presence in California by acquiring Fresno-based Guarantee Real Estate, whose 400 sales associates closed more than $634 million in sales working out of 13 offices in 2011.
HomeServices said the brokerage’s management and leadership teams will remain in place, led by CEO and President J. Scott Leonard, and co-chairmen Joan Eaton and Paul Gibson.
"We are excited to be in Fresno and are looking forward to having Scott, Joan, Paul and their teams join the HomeServices family,” said HomeServices CEO Ron Peltier in a statement.
Peltier said Guarantee Real Estate has been "a valued partner to HomeServices" within the Realty Alliance brokerage network, which is chaired by HomeServices President and COO Robert Moline. Through the years, Peltier said, "We have shared many ideas and successes."
HomeServices says its growth strategy is to identify market-leading companies that have established "deep and enduring reputations within their community and long-standing traditions for excellence."
With this acquisition, HomeServices has 27 brands and more than 16,000 real estate professionals operating in 21 states. The Minneapolis-based firm closed nearly $42 billion in sales volume in 2012, representing buyers or sellers in 145,000 transactions, and closed approximately $4 billion in home mortgages.
This year the company plans to launch a new franchise brand, Berkshire Hathaway HomeServices, as the majority owner of a joint venture, HSF Affiliates LLC, that operates the Prudential Real Estate and Real Living Real Estate franchise networks.