Twin Cities-based HomeServices of America now owns another of the top real estate brokerages in New Jersey.
HomeServices, the behemoth national real estate holding company that owns Edina Realty, said Thursday that it had acquired Berkshire Hathaway HomeServices New Jersey Properties.
The business is headquartered in Martinsville, N.J., and has 19 locations and more than 800 agents mostly in northern and central New Jersey.
Since 2014 the company has been an independent franchisee of HomeServices, but now will be a wholly owned company. Terms of the deal, which includes the New Jersey company's Associated Title Agency, weren't disclosed.
Last year, its agents closed nearly 3,900 deals worth $2.25 billion, putting it among the top five largest brokers in New Jersey and one of the largest in Berkshire Hathaway HomeServices' franchise network.
"We are committed to Berkshire Hathaway HomeServices New Jersey Properties' continued growth and success, and we are proud to welcome them to the HomeServices family," Gino Blefari, CEO of HomeServices, said in a statement.
In New Jersey, the company already owns Fox & Roach Realtors, which it bought in 2013, and Long and Foster Real Estate, which it bought in 2017.
HomeServices, an affiliate of Warren Buffett's Berkshire Hathaway, has been expanding its footprint across the country by targeting well-established, local brands. Unlike some real estate holding companies, the local branding and leadership usually is retained.
HomeService's most recent major acquisitions occurred in January, when it acquired four brokerages, including one that was rebranded as Edina Realty. Those companies, which are scattered across the country, had a combined sales volume of $7.7 billion in 2021.
Including the latest deal, HomeServices has close to 46,500 real estate employees in nearly 925 offices in 33 states.
