Berkshire Hathaway HomeServices Fox & Roach, part of HomeServices of America, one of the largest brokerages in the U.S., announced Tuesday a merger with Gloria Nilson & Co. Real Estate, a Berkshire Hathaway affiliate.
Gloria Nilson & Co. Real Estate, was previously a Berkshire Hathaway affiliate, meaning it was an independently owned franchise. Now, it becomes a company-owned brokerage, like Berkshire Hathaway HomeServices Fox & Roach, under the HomeServices of America umbrella.
Berkshire Hathaway HomeServices operates several brokerages, mortgage companies, settlement service providers, insurance companies and affiliated businesses.
With the merger, Berkshire Hathaway HomeServices Fox & Roach will increase its sales team by more than 700 and will add 20 offices in New Jersey and Pennsylvania. In total, the combined brokerage, will have more than 5,500 sales professionals and 75 locations in the Tri-State area.
“It was very well received and we’re super excited about the merger of two great companies,” Larry Flick V, CEO of Berkshire Hathaway HomeServices Fox & Roach, told Inman. “Gloria Nilson is a great company. Fox and Roach is a great company. And, together, we feel we’ll be better than we are today.”
“I’m proud to align Gloria Nilson & Co. with an organization that is consistently named the number one franchisee in the prestigious Berkshire Hathaway HomeServices network,” said Patricia Bell, current president and CEO of Gloria Nilson, in a press release.
The merger has been in the works for about four months and will allow Berkshire Hathaway HomeServices Fox & Roach to extend into Ocean and Monmouth Counties, as well as double its presence in Mercer County.
Flick will remain CEO of the combined company, while Bell will stay in place until the transition is complete, after which point her new role is still to be determined. Richard Martel, Jr., regional vice president of Gloria Nilson, will continue as vice president in the merged company in charge of the region formerly operated by Gloria Nilson.
Agents new to Berkshire Hathaway HomeServices Fox & Roach will benefit from new tech support the brokerage will be able to provide through their Agent Center for Excellence (ACE) platform, and the merger will enable more opportunity for inter-company referrals.
Although Flick couldn’t comment on how the merger might impact future growth strategies, he did say, “We’re always looking at additional opportunities.”
In short, “We think it’s going to be a win-win for both companies,” Flick added.