HomeServices of America, Inc. Announces Acquisition of Silicon Valley–based Intero Real Estate Services

  HomeServices of America, Inc. Announces Acquisition of Silicon Valley–based
  Intero Real Estate Services

Acquisition further expands HomeServices’ footprint in California residential
                              real estate market

Business Wire

MINNEAPOLIS -- May 13, 2014

HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced
the acquisition of Intero Real Estate Services, one of Silicon Valley’s
largest and fastest growing residential real estate brokerage firms, and
Intero Franchise Services, its affiliated franchise network. Terms were not

Headquartered in Cupertino, Intero serves Northern California in 13 offices
throughout the San Mateo, Santa Clara and San Benito counties. Since 2007,
Intero Real Estate Services has consistently ranked in the top 5 market share
in Silicon Valley, based on volume and in 2013, closed nearly 7,300 units and
$5.7 billion of volume. The Intero franchise network, which is comprised of
nearly 50 affiliates located in Alabama, Arizona, California, Colorado,
Nevada, Tennessee and Texas, generated more than $1.5 billion in sales volume
in 2013. Intero Real Estate Services and the Intero franchise will each retain
their name and existing branding without change or interruption.

Founded in 2002, Intero has experienced rapid year-over-year growth and is
best known for its innovative approach through its technology platform and its
unwavering commitment to providing their agents and clients with the highest
level of customer service, expertise and resources. Gino Blefari, president
and CEO, is among real estate’s most recognized and influential leaders, known
for his industry expertise, vision and leadership. Blefari, together with the
executive management team of Robert Moles, Tom Tognoli, and John Thompson will
continue to lead Intero’s strategic planning and growth initiatives as well as
manage the day-to-day operations along with their sales management teams.

HomeServices is the second-largest, full-service residential real estate
brokerage firm and through its operating companies, is one of the largest
brokerage-owned settlement services providers in the U.S. The acquisition
represents HomeServices’ expansion of their presence in California which also
includes southern California-based Berkshire Hathaway HomeServices California
Properties and Fresno-based Guarantee Real Estate which HomeServices acquired
in 2002 and 2012, respectively.

With this transaction, HomeServices has more than 23,000 real estate
professionals operating in 25 states. In 2013, HomeServices’ associates closed
nearly $56 billion in sales volume, over 184,000 real estate transactions and
closed approximately $3.7 billion in home mortgages.

“Intero is a strong company with an excellent reputation in a growth market,”
said Ron Peltier, chairman and CEO, HomeServices. “This transaction aligns
with our vision of acquiring distinguished companies in leading markets that
share our core values.”

“This transaction makes one of the premier firms in northern California an
even stronger organization,” Blefari said. “By joining forces with
HomeServices, we will be unmatched in our ability to serve the real estate
needs of new and existing clients throughout the communities we serve.”

“We are proud to be part of HomeServices of America,” said Robert Moles,
chairman of Intero Real Estate Services. “We are joining an organization known
for its strength and stability; one that is consistent with our high standards
of service, integrity and community involvement, making this a win/win for our
customers and our brokers.”

“We are excited to be in Silicon Valley and are looking forward to having the
Intero Real Estate team join the HomeServices family,” Peltier said.

About HomeServices of America

HomeServices of America, Inc. is the nation’s second-largest residential real
estate brokerage company and, through its operating companies, is one of the
largest providers of integrated real estate services. HomeServices of America
is the majority owner of the Berkshire Hathaway HomeServices, Prudential Real
Estate and Real Living Real Estate franchise networks. HomeServices is owned
by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway
Inc. HomeServices’ operating companies offer integrated real estate services,
including brokerage services, mortgage originations, title and closing
services, property and casualty insurance, home warranties, and other
homeownership services. HomeServices Relocation, LLC is the full-service
relocation arm of HomeServices of America, which provides every aspect of
domestic and international relocation to corporations around the world.
HomeServices operates under the following residential real estate brands:
Berkshire Hathaway HomeServices California Properties; Berkshire Hathaway
HomeServices Carolinas Realty; Berkshire Hathaway HomeServices First Realty;
Berkshire Hathaway HomeServices Fox & Roach, Realtors®; Berkshire Hathaway
HomeServices Georgia Properties; Berkshire Hathaway HomeServices KC Realty;
Berkshire Hathaway HomeServices New England Properties; Berkshire Hathaway
HomeServices Northwest Real Estate (Portland); Berkshire Hathaway HomeServices
Northwest Real Estate (Seattle); Berkshire Hathaway HomeServices KoenigRubloff
Realty Group; Berkshire Hathaway HomeServices York Simpson Underwood Realty;
Berkshire Hathaway HomeServices Yost & Little; Carol Jones Realtors®; CBSHOME
Real Estate; Champion Realty Inc.; Edina Realty; EWM REALTORS®; Guarantee Real
Estate; Harry Norman, Realtors®; HOME Real Estate; Huff Realty; Intero Real
Estate; Iowa Realty; Long Companies; RealtySouth; Rector-Hayden Realtors®;
Reece & Nichols; Roberts Brothers Inc.; Semonin Realtors®; and Woods Bros.

Information about HomeServices is available at

About Intero Real Estate

Intero serves Northern California with 13 offices throughout the Greater
Silicon Valley. The Intero franchise network is comprised of nearly 50
affiliates located in Alabama, Arizona, California, Colorado, Nevada,
Tennessee and Texas.

Information about Intero Real Estate is available at


Intero Real Estate
Teressa Francis, 408-342-3010
Kreps DeMaria PR (for HomeServices of America)
Israel Kreps, 305-663-3543
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