HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Guarantee Real Estate, one of central California’s largest and most respected residential real estate brokerage firms.
Guarantee Real Estate serves central California with more than 400 sales associates in 13 offices located in Fresno, Clovis, Prather, Shaver Lake, Reedley, Kingsburg, Dinuba, and Visalia. Guarantee has held the number one market share for over 20 years and in 2011 closed over 3,700 units and $634 million of volume.
J. Scott Leonard will continue in his role as president and CEO, and co-chairmen, Joan Eaton and Paul Gibson will remain in their current roles leading strategic planning and growth initiatives. Together, they will continue running the day-to-day operations along with their sales management and leadership teams. Originally founded in 1919, Guarantee has a long-standing reputation for providing clients with the highest level of customer service, expertise and resources.
HomeServices is the second-largest, full-service independent residential real estate brokerage firm and the largest brokerage-owned settlement services provider in the U.S. The acquisition represents HomeServices’ expansion of their presence in California and their entry into the Fresno market. With this transaction, HomeServices has 27 brands and more than 16,000 real estate professionals operating in 21 states. HomeServices’ growth strategy focuses on identifying market-leading companies that have established deep and enduring reputations within their community and long-standing traditions for excellence.
“Guarantee has been a valued partner to HomeServices within the Realty Alliance and through the years we have shared many ideas and successes. They are a strong company with an excellent reputation in a growth market,” said Ron Peltier, chairman and CEO of HomeServices. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”
“This transaction makes one of the premier firms in central California an even stronger organization,” adds Leonard. “By joining forces with HomeServices, we will be unmatched in our ability to serve the real estate needs of new and existing clients the Fresno area.”
“We are proud to be a part of HomeServices of America,” noted Eaton. “We are joining an organization known for its strength and stability; one that is consistent with our high standards of service, integrity, and community involvement making this a win/win for our customers and our brokers.”
“We are excited to be in Fresno and are looking forward to having Scott, Joan and Paul and their teams join the HomeServices family,” concluded Peltier.