Warren Buffett on HomeServices of America’s explosive growth

Key acquisitions last year accelerated real estate brokerage operation's standing

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Warren Buffett's annual letter to investors, akin to a parent's Christmas card detailing what all the kids have been up to, sheds light on the multinational holding company and the earnings performance of its subsidiaries. And lately, HomeServices of America, Berkshire's real estate company under Berkshire Hathaway Home Energy, has been a big talking point. The Omaha native and American business magnate, who admitted that he had "paid little attention" to HomeServices when Berkshire Hathaway "backed into the business" in 2000, gave the brokerage arm of his conglomerate a particularly glowing review in his 2017 letter released this week. While HomeServices stood as the second-largest brokerage operation in the country by the end of 2016, said Buffet, it remained a long way behind Realogy, the owner of subsidiaries such as Coldwell Banker, NRT, Better Homes and Gardens Real Estate and ERA. But thanks to some important acquisitions in 2017, HomeServices had done some serious ca...