The nation’s second-largest real estate brokerage company has acquired Madison-based First Weber Realtors. HomeServices of America, a Berkshire Hathaway affiliate, made the announcement July 28. The terms were not disclosed.
First Weber Realtors and its subsidiary Priority Title Corporation and ownership interests in eight regional operations were included in the acquisition.
Founded in 1971, First Weber serves all Wisconsin markets with nearly 1,200 sales associates in 58 offices throughout the state. In 2014, the company closed $2.5 billion in sales and ranked in the top 20 U.S. brokers based on closed units. Through Priority Title Corporation, the company provides title insurance and escrow services.
James Imhoff, president and CEO, together with the executive management team will continue to direct First Weber’s strategic planning and will manage day-to-day operations along with the sales management teams. HomeServices is the nation’s second-largest, full-service residential real estate brokerage firm and, through its operating companies, is one of the largest brokerage-owned settlement service providers in the U.S. The acquisition further expands HomeServices’ presence in Wisconsin along with another of its companies, Minneapolis-based Edina Realty, which serves western Wisconsin. With this transaction, HomeServices has nearly 26,000 real estate professionals operating in 26 states. In 2014, HomeServices’ associates closed $67 billion in sales, nearly 200,000 real estate transactions, and approximately $3.5 billion in home mortgage loans.