Skip to main content

Buffett Affiliate Acquires Luxury Real Estate Firm

Jan 18, 2017

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.

About the author
Published
Jan 18, 2017
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024