Warren Buffett's real estate network,
Berkshire Hathaway HomeServices,
to debut in Portland.
Web Resource for article:
www.oregonlive.com
company’s name behind a new chain of
real estate companies assembled last year,
and the change comes to Portland this week.
Prudential Northwest Properties,
a Portland real estate services company
acquired by a Berkshire Hathaway
affiliate in 2012, will adopt the
Berkshire Hathaway HomeServices
brand starting Wednesday. The company
will be ceremonially unveiling its new
for-sale yard sign in the morning, then
swapping out signs all around the
Portland area the same day.
The Oracle of Omaha doesn’t typically put
Berkshire’s name on consumer-facing brands.
Instead, the conglomerate owns brands like
Geico, Dairy Queen and the BNSF railroad.
"It's very exciting that for the first time
Mr. Buffett is going to lend his brand, the
most respected brand in the world, and he’s
going to give that brand to the real estate industry.
And we get the privilege" of adopting it,
said Jason Waugh, president of
Prudential Northwest Properties.
Waugh said only the top 75 firms in the
Prudential network would be invited to join the
Berkshire Hathaway HomeServices network,
which is rolling out in markets across the country
through next year. His firm will be known as
Berkshire Hathaway HomeServices
Northwest Real Estate.
Prudential Northwest Properties, which now has
20 offices and 400 employees, was the largest
locally-owned real estate services firm in the
Portland area before it was bought in 2012.
It’s gotten smaller since its acquisition, when
it had 21 offices and roughly 500 employees.
“We saw a lot of people get out of the business
from 2008 to 2012,” Waugh said. “It’s starting to
become more of an attractive business this year,
but we haven’t yet seen an influx of new people.”
-- Elliot Njus
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