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HomeServices of America, a subsidiary of Berkshire Hathaway, has acquired Berkshire Hathaway HomeServices Hudson Valley Properties, a leading real estate company in the Mid-Hudson Valley. This acquisition significantly strengthens HomeServices' presence in the Northeast residential real estate market. Hudson Valley Properties, which has dominated the local market for 29 years, closed nearly 4,300 units worth $1.53 billion in sales over the last year, securing over 24% market share. The integration aims to leverage resources for enhanced service delivery.
Positive
Acquisition expands HomeServices' footprint in the Northeast.
Hudson Valley Properties closed nearly 4,300 units worth $1.53 billion, enhancing revenue potential.
Longstanding market leader with over 24% market share in the Mid-Hudson Valley.
Increased resources and services for associates are expected to improve client service.
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None.
Acquisition further expands HomeServices’ footprint in the Northeast residential real estate market
MINNEAPOLIS--(BUSINESS WIRE)--
HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Berkshire Hathaway HomeServices Hudson Valley Properties, the leading real estate company in the Mid-Hudson Valley market for 29 consecutive years. Financial terms were not disclosed.
Steven Domber, Founder and President, Berkshire Hathaway HomeServices Hudson Valley Properties (Photo: Business Wire)
Founded in 1980 by Steven Domber and headquartered in LaGrangeville, New York, Berkshire Hathaway HomeServices Hudson Valley Properties serves the counties of Dutchess, Ulster, Orange, Columbia, Putnam and Westchester with more than 400 agents in 13 offices. For the 12 months ending in June 2021, Hudson Valley Properties closed nearly 4,300 units representing $1.53 billion of sales volume, earning more than a 24% market share.
The company joined the Berkshire Hathaway HomeServices network as an independent franchisee in 2014, and with this transaction, joins the HomeServices of America family of wholly owned companies. HomeServices has earned the ranking of the largest real estate company based on closed transactions since 2019. Hudson Valley Properties ranks #303 among top 350 real estate brokerages in the United States and is a member of the prestigious Berkshire Elite Circle, ranking #31 in the top 50 brokers of the network worldwide. Domber, founder and president of Berkshire Hathaway HomeServices Hudson Valley Properties, is active in the real estate industry on both the state and national levels. He will continue in his current role as president running the day-to-day operations along with his sales management and leadership team.
Domber and his wife Debbie, vice president and director of marketing at Berkshire Hathaway HomeServices Hudson Valley Properties, are widely recognized for their community involvement and philanthropic contributions. Hudson Valley Properties is a founding sponsor of The Treehouse Foundation of the Hudson Valley, a fundraising organization that supports local children’s charities, including The Sunshine Kids, raising nearly $1 million since 2002.
Hudson Valley Properties will join the Berkshire Hathaway HomeServices New England Properties family of brands--which includes New York, and Westchester Properties, a leading real estate brokerage firm which now has more than 2,200 sales professionals spread throughout 63 offices in Connecticut, Rhode Island, Manhattan, Westchester County and Mid-Hudson Valley, N.Y.
“Steven, together with his executive team, sales managers, agents and employees, has built an extraordinary organization and demonstrated a longstanding commitment to providing exceptional service to their buyers and sellers,” said Gino Blefari, CEO of HomeServices of America. “Joining Hudson Valley Properties with the New England Properties family of brands creates exciting opportunities for continued growth.”
“HomeServices stands for everything I have strived for in building our company--strength, stability and integrity,” said Domber, president of Hudson Valley Properties. “By joining HomeServices of America and partnering with Berkshire Hathaway HomeServices New England, New York and Westchester Properties, we will now have access to greater resources and services, which will be a tremendous benefit to all of our associates as they better serve the real estate needs of their clients.”
“Berkshire Hathaway HomeServices Hudson Valley Properties is one of the most highly respected independent brokerages in our global network,” said Candace Adams, president and CEO of the New England Properties family of brands. “The team’s rich local market expertise — coupled with its proven track record of success — makes Hudson Valley Properties an outstanding addition to our growing network of sales professionals now reaching from Manhattan to the Mid-Hudson Valley, underscoring our strength as a regional powerhouse.”
“We are pleased to be expanding our footprint in the Northeast and are committed to its continued growth and success,” concluded Blefari. “We are looking forward to working with Steven and his team of top professionals and are very proud to welcome them to the HomeServices family.”
With this transaction, HomeServices has nearly 46,650 real estate professionals operating in more than 920 offices across 32 states. In 2020, the company’s associates facilitated $152.2 billion in residential real estate sales and more than 346,000 transactions.
About Berkshire Hathaway HomeServices Hudson Valley Properties
Berkshire Hathaway HomeServices Hudson Valley Properties, with over 400 sales professionals in 13 offices throughout Dutchess and Ulster counties, has been the leading real estate broker in the Mid-Hudson Valley market for 29 consecutive years. Covering all corners of the Mid-Hudson Valley market and serving a full spectrum of consumers, the company has set the standard of professional service through trust, integrity and commitment to extraordinary customer service. For more information, visit www.bhhshudsonvalley.com
About HomeServices of America
HomeServices of America, through its operating companies, is the nation’s largest residential real estate company based on closed transactions and is the country's premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, insurance, and relocation services. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.
