> Warren Buffett Blog: Berkshire could acquire Intero Real Estate in California

Monday, May 12, 2014

Berkshire could acquire Intero Real Estate in California

Berkshire Hathaway is close to acquiring Intero Real Estate Services, the Silicon Valley residential brokerage powerhouse, according with industry sources familiar with the transaction.

Terms of the Intero deal were still sketchy, but Berkshire Hathaway has been beefing up its position in residential brokerage through a new brand called Berkshire Hathaway HomeServices, and is aiming to take it national. According to Bloomberg, Berkshire's HomeServices has bought eight brokerages in the past two years.

Intero, founded in 2002 and based in Cupertino, CA expanded quickly and today has more than 60 offices with a combined sales volume of $8.7 billion in 2013.