HomeServices of America, Inc.™, a Berkshire Hathaway affiliate, announced that Oregon-based Prudential Northwest Properties, a leading residential real estate firm based in Portland, is joining the HomeServices of America family of companies. Prudential Northwest Properties is one of Portland’s largest and most-respected residential real estate brokerage firms.
HomeServices is the nation’s second-largest, full-service independent residential real estate brokerage firm and the largest brokerage-owned settlement services provider—mortgage, title, escrow and insurance. HomeServices is owned by MidAmerican Energy Holdings Company, a consolidated subsidiary of Berkshire Hathaway Inc. In the Portland area, MidAmerican is the parent company of PacifiCorp, one of the West’s leading utilities.
Founded in 1948, Prudential Northwest has nearly 500 sales associates in 21 offices serving the Portland metropolitan area; Southwest Washington, including Vancouver and Longview; Central Oregon; and the Oregon coast. In 2011, the company had nearly $900 million in sales. Under the new structure, Prudential Northwest Properties retains its name and remains a flagship franchisee of Prudential’s U.S. real estate network.
Its chairman, Bert Waugh, Jr., is a lifelong resident of Portland who is widely recognized for his community involvement and leadership. Waugh will continue in his role as chairman, and his son, Jason Waugh, will continue as president and CEO, running the day-to-day operations along with their leadership team.
“Prudential Northwest Properties is a respected company with an excellent reputation and long-term ties to the community,” says Ron Peltier, chairman and CEO of HomeServices. “This transaction exemplifies our vision of expanding our family of brands with distinguished companies that share our core values, strengthening those brands through our affiliation, and giving the people who built them the freedom to operate in the local markets they know best.”