> Warren Buffett Blog: Berkshire purchases Dallas Texas company - Ebby Halliday

Thursday, June 7, 2018

Berkshire purchases Dallas Texas company - Ebby Halliday

Warren Buffett’s HomeServices of America Inc. had sealed the deal for the purchase of Ebby Halliday Cos.

But the 83-year-old CEO, who’s spent 60 years of her life at the Dallas-based residential real estate company, wasn’t just celebrating a big payday.

By one industry expert account, the Minneapolis-based real estate arm of Berkshire Hathaway might have paid as much as $100 million in an all-cash deal to expand its Texas spread in a bold way.

But even more important to Burleson was that she’d landed a buyer who promises to stay true to Ebby form.

“I’m an Ebby girl. I want what’s best for this company,” says Burleson, who started as Ebby’s part-time secretary in 1958.

“We used to have our management meetings around her dining room table — the three of us,” she says, referring to the late-great Ebby and Ron Burgert, Ebby Halliday’s chief financial officer, who’s sitting next to Burleson in a cramped meeting room of the iconic Little White House. “I want to keep her legacy alive.”

With the acquisition of the Ebby Halliday portfolio, HomeServices has nearly 42,500 real estate professionals operating in nearly 900 offices across 30 states, including Dallas-based Allie Beth Allman & Associates, which was acquired in 2015.