October 30, 2012
HomeServices and Brookfield Announce a New Residential Real Estate Franchise Brand—Berkshire Hathaway HomeServices®
MINNEAPOLIS, MINN. (Oct. 30, 2012)—HomeServices of America, Inc.™, a Berkshire Hathaway affiliate, and Brookfield Asset Management, announced today that they have partnered to introduce Berkshire Hathaway HomeServices®—a new franchise brand that joins the existing brands and affiliate networks of Prudential Real Estate and Real Living Real Estate.
Berkshire Hathaway HomeServices® combines the financial strength of both organizations, coupled with the operational excellence of HomeServices and superior real estate franchising experience of Brookfield.
The combined networks of more than 53,000 Prudential Real Estate and Real Living Real Estate agents generated in excess of $72 billion in residential real estate sales volume in 2011, and operate across more than 1,700 U.S. locations.
"Berkshire Hathaway HomeServices is a new franchise brand built upon the financial strength and leadership of Brookfield and HomeServices," said Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. "I am confident that these partners will deliver value to the residential real estate industry, and I am pleased to have Berkshire Hathaway be a part of the new brand."
"We are honored and proud to be entrusted with the use of the Berkshire Hathaway name as our new real estate franchise brand," said Ron Peltier, chairman and CEO of HomeServices. "We will convey the strength of Berkshire Hathaway’s reputation and its associated principles of integrity and financial stability in everything we do."
Berkshire Hathaway HomeServices® unites proven operational excellence, demonstrated integrity and the reputation of Berkshire Hathaway—among the world’s most admired companies, according to Fortune’s 2012 ranking—to deliver its real estate franchise offering in the market. This combination enables brokers and affiliates to attract and retain the best agents to provide superior customer service and to drive performance and profitable growth. Berkshire Hathaway HomeServices® will be available in 2013.
"The strength of the Berkshire Hathaway name, coupled with the operational excellence of HomeServices and the franchising experience of Brookfield, positions Berkshire Hathaway HomeServices® as a leading real estate franchise in the U.S., building on our traditions of exceptional client service and innovation. Brookfield is excited to be a partner in creating a home for the best real estate brokers and agents in the country," said Bruce Flatt, Brookfield Asset Management CEO.
Berkshire Hathaway HomeServices® will be led by an experienced management team including Earl Lee, Chief Executive Officer; Stephen Phillips, Chief Operating Officer; Brian Peterson, Chief Financial Officer and Aleya Chattopadhyay, Chief Marketing Officer.
Information about Berkshire Hathaway HomeServices® is available at: http://www.berkshirehathawayhs.com
December 6, 2011
BROOKFIELD RESIDENTIAL PROPERTY SERVICES ANNOUNCES ACQUISITION OF PRUDENTIAL REAL ESTATE AND RELOCATION SERVICES
Acquisition creates global residential real estate and employee relocation services leader (Chicago, IL) – Today Brookfield Residential Property Services (“Brookfield”), a Brookfield Asset Management Inc. affiliate, announced that it has purchased Prudential Real Estate and Relocation Services (“PRERS”), a recognized leader in employee relocation and real estate franchising from Prudential Financial, Inc. Prudential Relocation Services operates as Pricoa Relocation in Asia and Europe.
The addition of PRERS to Brookfield’s existing residential real estate franchising and employee relocation services businesses establishes Brookfield as the world’s second largest employee relocation services provider and the third largest residential real estate franchising business.
Under a licensing agreement, Prudential Real Estate brokerage affiliates will be able to continue to use the Prudential brand based on the terms of their franchise agreements.
“This transaction creates a global employee relocation services and real estate franchising leader,” explained Graham Badun, CEO, Brookfield Residential Property Services. “We have now increased the breadth and depth of our service offering, keeping pace with the evolving needs of our clients around the world.”
A North American & Global Leader
Through its various brands, Brookfield’s residential real estate franchisees are now present in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal, with a network of approximately 80,000 real estate agents, 2,800 real estate brokerage locations and more than $150 billion in annual residential real estate transactions.
U.S.-based Brookfield Global Relocation Services moves nearly 85,000 families in and out of over 125 countries around the world each year. With the acquisition, more than one-third of Fortune 100 companies are its clients. In addition, Brookfield is now the largest provider of relocation services to government, with long term relationships with the U.S. and Canadian governments.
The acquisition greatly strengthens Brookfield’s existing U.S. business and results in the expansion of its operations in nine countries, with a rapidly growing presence in China, Brazil and India.
“Today, Prudential’s real estate and relocation services businesses join a global company with a track record of over 100 years of success,” said Earl Lee, President of Prudential Real Estate and Relocation Services. “We’re excited to become part of a company that is focused on and deeply immersed in the real estate sector and is in the business for the long-term.”
August 30, 2010
PRERS Dominates Industry in First-Half Media Coverage
Prudential Real Estate dominated its major real estate brokerage competitors in media coverage during 2010's first half, according to research provided by Prudential's Global Communications group in Newark, N.J.
Prudential Real Estate averaged 1,025 media mentions during the first half with spikes of 1,104 mentions in April and 1,408 in June relating post-Sales Convention publicity and tax credit survey media outreach.
Coldwell Banker, which averaged 632 mentions during the first half, finished closest to Prudential Real Estate and ahead of Century 21, Keller Williams and RE/MAX.
Prudential Real Estate and Relocation Services' Communications and PR team worked closely with Prudential's Global Communications group to help generate news and publicity. Media outreach included event publicity, press releases, new-affiliation announcements, bylined articles, consumer surveys and more.
Overall coverage is expected to increase in the second half as PRERS and Prudential Real Estate affiliates continue promoting the Network's brand-new distinction as "Highest Overall Satisfaction for Home Sellers Among National Full Service Real Estate Firms" in J.D. Power and Associates' annual Home Buyer/Seller StudySM. Prudential Real Estate is also the subject of Real Estate Magazine's August cover story, and additional bylined articles will appear through year end.
July 28, 2010
J.D. Power and Associates: Prudential Real Estate Ranks Highest for Seller Satisfaction...Again!
J.D. Power and Associates announced July 28 that the Prudential Real Estate Network ranked “Highest Overall Satisfaction for Home Sellers among National Full Service Real Estate Firms” in J.D. Power and Associates' 2010 Home Buyer/Seller Study. This marks the second time in three years that the Network ranked highest in seller satisfaction.
The annual study measures customer satisfaction of home sellers and buyers with major national real estate companies. Overall satisfaction is determined by examining four factors for the home-selling experience: agent (44%); marketing (30%); office (15%); and services (11%). Among home sellers, Prudential Real Estate scored highest on a 1,000-point scale and received particularly high ratings from customers in the marketing and agent factors.
PRERS Chairman Jim Mallozzi said the award speaks for the quality and consistency of the Prudential Real Estate Network. “Affiliate to affiliate, our sales professionals are the local-market experts who market and price homes right, while providing attentive service,” Mallozzi said.
Prudential Community Realty: Trish Baehr-Schaefer, local real estate professional/owner, certified to address and encourage the benefits of energy efficiency and green features in homes
Madison/Sun Prairie – Trish Baehr-Schaefer, of Prudential Community Realty, has earned the EcoBroker Certified® designation, having successfully completed an award-winning informative training program on the energy and environmental issues that affect real estate transactions. Baehr-Schaefer joins the movement of professionals pushing the real estate market toward energy-efficient, sustainable, and healthier features in homes and buildings. Today’s focus on high-performance energy-efficient homes is a priority for this type of high-quality real estate professional earning the EcoBroker Certified® designation. EcoBrokers® are building premier market presence by serving as consumer and community resources on energy and environmental issues. With national surveys indicating that 9 out of 10 consumers consider energy efficiency and the environmentally sound aspects of a home to be almost as important as interior finishes, Certified EcoBrokers® are simply in a better position to serve the savvy green-minded real estate consumer.
“I’m always looking for the best ways to not only offer our clients the best value but to also develop a relationship where they feel I am a trusted resource,” Baehr-Schaefer explains. “My EcoBroker Certified® training helps me ensure that my company’s customers, who are our number one priority, get the knowledge they need. From energy-efficient appliances to solar options to overall energy savings, we now have more resources at our disposal to help our buyers and sellers make informed real estate decisions. The EcoBroker Certified® designation doesn’t make me an energy and environmental expert, but it puts me in a position to recognize issues and convey information on the products and services available to our buyers and sellers.”
EcoBroker International’s premier designation program is designed exclusively for real estate professionals who care about the environment and want to help their clients benefit from the energy-efficiency, “green,” and healthier features of properties. The extensive curriculum of energy and environmental training requires participants to fulfill additional program requirements to become Certified EcoBrokers®.
“Trish Baehr-Schaefer is an example of the quality real estate professional the EcoBroker Certified® designation continues to attract,” explains EcoBroker International CEO Dr. John Beldock. “These real estate professionals are not only distinguishing themselves in a competitive market place, but they are really giving back to the community in very constructive and meaningful ways. Madison & Sun Prairie need more contributors like Trish. The planet and our grandchildren need them, too,” says Dr. Beldock.
Prudential Real Estate & Relocation Services Launches R&D Lab, Futuristic Immersive Technology at Annual Sales Convention
Posted By susanne On March 8, 2010 @ 4:54 pm In Marketing,Real Estate,Real Estate Technology,Today's Marketplace
RISMEDIA, March 9, 2010—Prudential Real Estate & Relocation Services (PRERS) announced yesterday at its annual sales convention in Austin, Texas, the launch of a first-of-its-kind research and development laboratory designed to build a new generation of tools for real estate professionals.
With “Make it Happen” as the theme of its 2010 convention, PRERS Chairman Jim Mallozzi introduced the Prudential Real Estate Collaborative Innovation Partnership (PRECIP)—a program that will bring together the real-world knowledge of key Prudential Real Estate Network brokers and sales professionals with leaders in immersive world technologies, web 2.0 applications, mobile technologies and more.
“I want to talk to you today about change and innovation,” said Mallozzi from the stage of the Austin Convention Center, “but talk about change and innovation is cheap – we hear it every day. I’d like to borrow on the success of James Cameron (creator of the film “Avatar”), and invite you on a tour of another world…not really another world, but the future; a future that’s right around the corner. I’d like to welcome you into my imaginary home.”
With that, Mallozzi took attendees on a life-size virtual home tour that allows both real estate professionals and prospective buyers to interact by immersing themselves into the tour—no matter where their respective physical location happens to be. Serving as a preview of new technology to come from PRERS’ imminent relationship with Montreal-based Immersive Design Studio (IDS), these next-generation virtual home tours are designed to be as emotionally compelling as the real thing.
“This is a real house tour, not a power point or a video,” said Mallozzi. “This is something we can interact with. If we want to turn right, we turn right. If we want to go upstairs, we go upstairs. If the client doesn’t like the color of the walls, then snap—change it. IDS is the leading-edge innovator in the realm of immersive experience, responsible for building one of the top video game engines. Why not use this amazing technology for business? As I think about our business, I think we should be led by this simple, but powerful, phrase: why not?”
According to Mallozzi the immersive home tour technology will allow agents and clients “from opposite ends of the continent, from opposite ends of the world” to come together in the virtual home and exchange thoughts with each other in real time. “You can participate from your own PC or iPad…or real estate professionals can create their own interactive space within their office,” he added.
New technology, however, is nothing without the input and exchange of ideas from the Prudential Network, stressed Mallozzi, referring to the new R & D lab as a “collabrotory.”
“Our mandate is to take new ideas and technology and turn them into the types of tools we need to compete in the future. PRECIP is a network of thinkers and doers, including many of you.”
“It’s a new year, it’s a new time,” PRERS President Earl Lee told the audience. “Like you, we’re very confident of our destiny and it’s in our own hands. You all make it happen.”
According to Lee, in today’s challenging marketplace, embracing change and innovation is a must for the brand as well as its affiliates. “Fundamentals are more important than ever, but the most crucial aspect of our business is how we communicate with our customers. We must transform that ‘how.’”
As part of its innovations aimed at further enhancing communication with consumers, PRERS also announced the following online tools at the convention:
- Prudential Media Center: A centralized, online repository for presentations, videos, photos, etc., allowing agents to easily create and customize listing presentations.
- Rent-to-Own Calculator: A website tool enabling consumers to see how much home their current rent payments would allow them to buy. The calculator displays Prudential listings in the area whose estimated mortgage payments would match the buyer’s rent payments.
- Upgrades to the Online Seller Advantage (sm), including direct interface with more than 200 social media sites, allowing agents to share listings.
- Mobile solution: Allows consumers to receive Prudential Real Estate listings via their smartphones
08 March 2010
Prudential Real Estate and Relocation Services Launches Industry’s First Research and Development Laboratory; Introduces New Tools for Affiliate Network
AUSTIN, Texas, March 08, 2010 - Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. (NYSE: PRU) company, one of the largest networks of real estate brokers in the U.S., announced at its annual convention today the launch of the real estate industry’s first research and development laboratory exclusively focused on building a new generation of tools for real estate professionals.
The Prudential Real Estate Collaborative Innovation Partnership (PRECIP) will bring together the real-world knowledge and expertise of Prudential Real Estate Network brokers, owners and sales professionals with leaders in immersive world technologies, web 2.0 applications, mobile computing and communications to achieve its goals.
As part of the announcement, the company also introduced several online tools and resources to further extend the reach and influence of Network companies and their sales professionals.
“We have taken significant steps to strengthen our support for 1,700 Prudential Real Estate Network offices across the country and their 60,000 sales professionals, including enhancing our technology platform for high-definition video, photo and mobile applications,” said James Mallozzi, chairman and chief executive officer for Prudential Real Estate and Relocation Services (PRERS). “Underscoring our commitment to helping differentiate our offerings, we are pleased to launch the Prudential Real Estate Collaborative Innovation Partnership to leverage new technologies and enhance the real estate buyers’ experience.”
As an initial step, PRERS has signed a letter of intent with Immersive Design Studio, a Montreal-based virtual world developer, which will work with the company to further define PRECIP's research agenda and on the development of next-generation virtual home tours that are as satisfying and emotionally compelling as the real thing. The founders of Immersive Design Studio (IDS), Belgium artist Thomas Soetens and architect Kora Van den Bulcke, have been on the forefront of extending video-game technology beyond its traditional use as a game platform.
“The formation of PRECIP is a perfect example of us looking to leverage the power of the partnership we have with our affiliates,” said Mallozzi. “By establishing a collaborative framework that brings together their experience with leading technology innovators we expect to deliver applications and tools that will benefit and create competitive advantage for all members of our affiliate Network.”
Tools and resources announced today to the Prudential Real Estate Network include:
- Prudential Real Estate Media Center – a centralized, online repository for presentations, videos, photos, graphics and more enabling sales professionals to customize or create listing presentations in minutes by clicking, dragging and dropping components. Sales professionals can then send those presentations to any combination of clients via the Prudential Real Estate Network’s robust eCard platform.
- Rent-to-Own Calculator – a handy website tool enabling consumers to see how much home their rent payments would buy. Consumers simply key in their rent payments and zip codes for the areas in which they are interested. The calculator displays Prudential listings in those areas whose estimated mortgage payments match their payments.
- Upgrades to the company’s proprietary Online Seller AdvantageSM customer-contact platform, including direct interface with more than 200 social media sites – enabling Network professionals to instantly share and display listings with customers, friends, family and followers – and the ability to upload and manage video files for display on listings pages.
- The company’s brand-new mobile solution provides Prudential Real Estate listings to consumers on the go via PruRE.com, a website customized for today’s smartphones such as iPhone, BlackBerry and Android.
“We will continue leveraging technology and innovation to help our affiliate companies and sales professionals maximize their service and stature in the marketplace,” said Earl Lee, president of Prudential Real Estate and Relocation Services.
PRERS has appointed Steve Van Anden, a long-time advisor and consultant to the firm, as PRECIP’s interim director. Van Anden is a 13-year veteran of IBM who, before starting his own firm, served as Chief Marketing Officer for electronic trading platform, BondBook. Previously, he was director of Strategic Market Development at Merrill Lynch. Van Anden will be responsible for defining and implementing PRECIP’s research and development agenda, including oversight of component research initiatives and the recruitment of additional participating technology partners.
Prudential Real Estate and Relocation Services, Inc. is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated. Companies are selected based upon outstanding performance records, high levels of customer service and shared business values with those of Prudential. Prudential Real Estate provides franchises with business strategies using Operation Reviews as well as numerous benefits, including access to Prudential Real Estate’s Online Seller AdvantageSM program designed to provide real-time information to sellers with the touch of a keystroke; and Online Buyer AdvantageSM, which enables consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with nearly 1,700 franchise offices and approximately 60,000 sales professionals in the franchise Network as of Dec. 31, 2009.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $667 billion of assets under management as of Dec. 31, 2009, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6206500&lang=en
March 30, 2009
PRUDENTIAL COMMUNITY REALTY
REAL ESTATE ASSOCIATES
RECEIVE PRESTIGIOUS AWARDS
FROM PRUDENTIAL REAL ESTATE & RELOCATION
(Madison/Sun Prairie) ¾ LeRoy Abplanalp of Prudential Community Realty has been named to the prestigious Honor Society for 2008 by Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. [NYSE:PRU] company. The award recognizes residential sales professionals who exemplified great performance in closed residential GCI, commercial GCI or closed 25 residential units for the year.
Ryan Esser of Prudential Community Realty has been named to prestigious Leading Edge Society for 2008. The award recognizes residential sales professionals who exemplified great sales measures in closed residential GCI, commercial GCI or closed 35 residential units for the year.
David Baehr/Baehr Inc. of Prudential Community Realty has been named to prestigious President’s Circle for 2008. The award recognizes residential sales professionals who exemplified great sales measures in closed residential GCI, commercial GCI or closed 50 residential units for the year.
Kathy Walch of Prudential Community Realty has been named to prestigious Chairman’s Circle-Gold for 2008. The award recognizes residential sales professionals who exemplified great sales measures in closed residential GCI or closed 70 residential units for the year.
September 21, 2008 Prudential Real Estate Ranked Highest for Seller Satisfaction in J.D. Power and Associates’ 2008 Home Seller StudySM, Prudential Community Realty Announces
(Madison/Sun Prairie, WI – Prudential Real Estate Affiliates, Inc., a Prudential Financial, Inc. [NYSE: PRU] company, and Prudential Community Realty announced that Prudential Real Estate ranks “Highest Satisfaction for Home Sellers Among National Full Service Real Estate Firms” in J.D. Power and Associates’ 2008 Home Seller StudySM.