Buffett Affiliate Acquires Luxury Real Estate Firm

HomeServices of America Inc., an affiliate of Warren Buffett’s Berkshire Hathaway business empire, has acquired Houlihan Lawrence, one of the oldest and largest luxury real estate brokerage firms serving New York City’s affluent northern suburbs.

Established in 1888 and based in Rye Brooke, N.Y. Houlihan Lawrence operates 30 sales offices in Connecticut’s Fairfield County and in New York’s Westchester, Fairfield, Putnam, Dutchess, Orange and Ulster Counties. Last year, the company reported $6.7 billion of sales volume.

The financial terms of the acquisition were not disclosed. The brothers Stephen Meyers and Chris Meyers will continue to serve as president/CEO and managing principal, respectively, while their sister Nancy Seaman will step down from her role as company chairwoman.

“Nancy, Stephen and Chris, together with their team of sales managers and agents, have built an extraordinary organization and exemplify a level of expertise and leadership that is second-to-none in the real estate business today,” said Ron Peltier, chairman and CEO of Minneapolis-based HomeServices. “Their culture of integrity and innovation closely aligns with our corporate vision and our emphasis on customer value and results.”

With this transaction, HomeServices has nearly 29,500 real estate professionals operating in nearly 570 offices across 28 states. In 2016, the company’s associates facilitated more than $93 billion in residential real estate sales.