Berkshire Hathaway Inc (BRK.A)

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Prudential Real Estate joins Berkshire Hathaway
Laura Fosmire, Statesman Journal 9:32 a.m. PST January 15, 2015
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The sign is already up for the newly re-named Berkshire Hathaway HomeServices Real Estate Professionals in this photo taken on Jan. 14, 2015.
(Photo: LAURA FOSMIRE / STATESMAN JOURNAL)


Prudential Real Estate Professionals and its network of offices throughout the Willamette Valley announced this week that it has joined the Berkshire Hathaway family.

As of Tuesday, the former Prudential name officially becomes Berkshire Hathaway HomeServices, joining the conglomerate best known by its billionaire owner, Warren Buffett.

Salem's branch celebrated the move on Wednesday evening with an open house and a ribbon cutting.

"This is a fulfillment of a vision I've always had," said owner and president Byron Hendricks. "We can give our customers so much more to be part of a franchise like Berkshire Hathaway."


The community gathers for an open house at the newly re-named Berkshire Hathaway HomeServices Real Estate Professionals.(Photo: LAURA FOSMIRE / STATESMAN JOURNAL)


Hendricks, who has owned the company since 1998, oversees a network of six offices from Salem to Roseburg with more than 200 agents and staff. The brokerage regularly comes in as one of the top-50 companies in the Prudential network.

The move has been in the works since 2012, when HomeServices of America, an affiliate of Buffet's Berkshire Hathaway Inc., announced its purchase of the Prudential brand.

That franchise, Hendricks said, comes with one of the most reputable and trusted names in the country.

"We've tried to earn that reputation of integrity and trust," he said. "So our brokers are supported by us, and we're supported by Berkshire Hathaway."

Beyond the benefits attached to the Berkshire name, Hendricks said the move positions the firm in such a way to take advantage of a greater network of information and tools to help home buyers.

"There's so much more information out there for consumers," Hendricks said. "Homes are one of the biggest purchases that people make, so we try to give them the tools to get that information."

One of those tools? A newly minted Berkshire app — "I like to call it a real estate concierge right in your pocket or purse," Hendricks quipped — that includes real estate listings from every Berkshire market. App users can not only see listed homes in Salem, but explore homes in other markets nationwide.

"Buyers can have this information handy right on the smart phone," Hendricks said. "And for sellers, we're giving their listings the most exposure possible."

The move won't signal many noticeable changes for the Salem market. The same network of brokers will continue to operate in the area, but under the heading of an affiliate of Berkshire Hathaway.

Hendricks is optimistic about the company's future.

"My vision has always been to have the finest brokers with the best vision and the best tools," he said. "It's just been a heck of a ride."





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