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Compass close to finalizing acquisition of HomeServices of America

by Emily Mack

Compass is now in “advanced talks” to acquire competitor HomeServices of America, which includes Berkshire Hathaway HomeServices (BHHS). The Wall Street Journal confirmed the nearing of this deal on March 13.

Our own Agent X reported the rumors on March 3.

The news comes just three months after Compass announced its $444 million acquisition of the Chicago-based @properties Christie’s International Real Estate, bringing the firm global.

Warren Buffett has acted as the chairman and CEO of parent company Berkshire Hathaway since 1965. BHHS falls under the umbrella of Berkshire Hathaway Energy, also led by Buffett. In 2013, that residential brokerage arm rebranded as HomeServices of America. Gino Blefari serves as the HomeServices of America CEO.

In addition to BHHS brokerages, brands like Edina Realty, Ebby Halliday and Long & Foster are part of HomeServices of America.

The soon-to-be acquisition raises questions related to the ongoing Gibson commissions lawsuit. Compass finalized its own $57.5 million lawsuit in that case in October, but Berkshire Hathaway Energy remains a defendant.

The deal also comes at a crucial moment for Compass CEO Robert Reffkin as the National Association of REALTORS® nears a decision on whether to maintain, modify or repeal the Clear Cooperation Policy. Reffkin is one of the policy’s most outspoken critics.

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