It’s official: The nation’s second-biggest residential real estate brokerage, HomeServices of America Inc., is expanding its presence in California with the acquisition of Cupertino-based Intero Real Estate Services, one of Silicon Valley’s biggest brokerages.

In Southern California, HomeServices has owned San Diego-based Berkshire Hathaway HomeServices California Properties since 2002. In 2012, the Minneapolis-based Berkshire Hathaway affiliate acquired Fresno-based Guarantee Real Estate.

The terms of HomeServices’ acquisition of Intero Real Estate Services, which also includes the company’s affiliated franchise network, Intero Franchise Services, were not disclosed.

With 13 offices in San Mateo, Santa Clara and San Benito counties, Intero Real Estate Services agents were involved in nearly 7,300 transactions in 2013 involving homes valued at $5.7 billion.

HomeServices, which was involved in 184,000 transactions totaling nearly $56 billion in 2013, now has more than 23,000 real estate professionals working in 25 states.

“Intero is a strong company with an excellent reputation in a growth market,” said HomeServices CEO Ron Peltier in a statement. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”

The Silicon Valley Business Journal last week reported that “the residential real estate community has been buzzing for weeks that a deal was in the works.”

HomeServices of America has acquired eight brokerages around the nation in the last two years, including Chicago-based Prudential Rubloff Properties, which merged with Koenig & Strey and recently rebranded as Berkshire Hathaway HomeServices KoenigRubloff Realty Group.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×