We keep telling you that North Texas is damn hot, and the brokers want in. Even Warren Buffet. His new real estate foray, Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, is now a presence in Dallas. The company announced yesterday that Prudential Texas Properties has joined their network, operating as Berkshire Hathaway HomeServices PenFed Realty Texas.
PenFed Realty Texas Broker Rick Wylie said the transition ushers in a new era of growth at the brokerage, which has served the DFW area since 1989 and was a perennial top 50 company with Prudential Real Estate.
“We are so proud of our new name and what it stands for,” Wylie said. “Berkshire Hathaway HomeServices’ namesake is Warren Buffett’s Berkshire Hathaway Inc., a corporation respected around the world. PenFed is one of America’s strongest and safest credit unions serving millions of Americans. Factor in our skilled and passionate agents, and you’ve got world-class real estate representation.”
There’s so much power in that Omaha, Nebraska, guy’s name. Buffett’s brand-new real estate franchise brand also has the strongest brand equity of all real estate brands, at least according to a consumer survey by Harris Poll.
The poll was conducted in January, and surveyed more than 41,000 Americans older than the age of 15. (Editor’s note: that’s a pretty young age to own a home!) The 2014 Harris Poll EquiTrend ranks brands by how strongly consumers connect with them. The survey gauged consumers’ emotional connection to brands, their awareness and familiarity of them, and the influence they may have on them.
PenFed Realty commemorated its brand transition with ceremonies held in the Founders Club at AT&T Stadium, Arlington. HSF Affiliates’ incoming CEO Gino Blefari attended the event, as did local officials and chamber of commerce representatives.
“PenFed Realty Texas stands for quality in the marketplace and we’re proud to welcome the brokerage to Berkshire Hathaway HomeServices,” said Blefari.
The transition marks arrival of two big-name brands to the North Texas area, as the brokerage assumes its new DBA under ownership of Pentagon Federal Credit Union, and as part of a Berkshire Hathaway HomeServices network, which has grown to 34,000 agents and 1,046 offices in just 14 months.
Wylie said business has accelerated since he announced the transition earlier this year.
“Clients and builders are excited about the possibilities,” he said. “Of course, real estate professionals understand the marketing potential of our brand and want to be a part of it.”
With their transition, PenFed Realty Texas agents gain access to Berkshire Hathaway HomeServices’ Global Network Platform—a suite of online tools, applications and services—plus ongoing business consultation, professional, education, and marketing support.
“New technology will give our agents additional advantages in the marketplace,” said DD Flynn, the brokerage’s vice president of marketing. “This means even better service for our homebuyers and sellers.”