HomeServices of America, an affiliate of Berkshire Hathaway, purchased Ebby Halliday Companies, the largest private residential real estate company in Texas by sales volume, for an undisclosed amount.
This is an important transaction for HomeServices,” HomeServices Chairman and CEO Ron Peltier said in a statement.
“And we are very proud to welcome the Ebby Halliday Companies to the HomeServices family,” he added.
Ebby Halliday has a number of real estate brands under its umbrella transferring to HomeServices with the transaction: Ebby Halliday, REALTORS, Dave Perry-Miller Real Estate and Williams Trew Real Estate along with all its affiliated mortgage and title companies.
Ebby Halliday is headquartered in Dallas and did $8 billion in sales in 2017. The company has been in operation since 1945 when Ebby Halliday started the firm as a one-woman, one-office venture.
President and CEO of Ebby Halliday, Mary Frances Burleson and CFO Ron Burgert will continue on with the firm under its new owners.
“Finding the right partner to maintain the legacy, culture and integrity of the Ebby Halliday Companies was of upmost importance,” Burleson said in a statement.
“We are joining an organization known for its strength and stability – and for its impeccable reputation and commitment to protecting brands. Joining with HomeServices ensures that our history of market leadership and industry service continues.”
The deal comes less than a year after HomeServices of America acquired The Long & Foster Companies, one of the largest private residential real estate companies in the country.
Also included in that deal were Prosperity Mortgage, which originated nearly 12,000 mortgages representing $3.3 billion in volume in 2016; Long & Foster’s settlement services companies, which closed over 20,000 title and escrow transactions in 2016; and Long & Foster Insurance, which issued approximately 8,300 property and casualty insurance policies in 2016.
HomeServices of America's parent company is Berkshire Hathaway, which is controlled by billionaire Warren Buffett. The company has significant real estate holdings beyond HomeServices of America's growing portfolio of companies, including Clayton Homes, which specializes and receives most of its revenue from the sale of manufactured homes.