Orange County Real Estate Thoughts-•Buffett’s real estate chain opens in O.C.
by Tony Leocadio
on Wednesday, September 25th, 2013 at 12:17pm.
A dozen Prudential California Realty offices in Orange County are among the first brokerages in the nation to join Warren Buffett’s new Berkshire Hathaway HomeServices real estate chain, the new firm announced.
The new Berkshire Hathaway brand is based in Irvine, resulting from a partnership announced last October between Buffett's existing HomeServices of America chain and the parent company of Prudential Real Estate, Brookfield Asset Management.
The new brand had to be created because Brookfield’s deal to buy Prudential Real Estate limited the amount of time existing franchisees could use the Prudential name, said Kevin Ostler, communications manager for the new chain.
In all, 62 Prudential offices in Southern and Central California are switching this week to the new brand, the new firm said. That includes 12 Orange County offices, stretching from San Clemente to Villa Park, which are part of the San Diego-based Prudential chain that Buffett already owned.
More than 30 companies nationwide have signed with the Berkshire brand, and 10 more will be announced within a week, Ostler said. The process of converting to the new name will continue into early 2014.