Warren Buffett’s HomeServices of America is reportedly in negotiations to acquire the nation’s 12th-biggest real estate brokerage, Cupertino, California-based Intero Real Estate Services Inc.
Citing anonymous sources familiar with the negotiations, the Silicon Valley Business Journal said “the residential real estate community has been buzzing for weeks that a deal was in the works,” and that the acquisition is expected to close soon.
Intero Real Estate Services declined to comment, and HomeServices of America did not immediately respond to a request for comment from Inman News.
Intero Real Estate Services claims 2,000 agents in 60 offices around the world, including franchise affiliates. Last year the company’s agents represented buyers and sellers in real estate transactions valued at $5.7 billion, a 24 percent increase from the year before, according to rankings compiled by Real Trends.
HomeServices of America has acquired eight brokerages around the nation in the last two years, Bloomberg News reports.