MINNEAPOLIS--(BUSINESS WIRE)--HomeServices of America, a Berkshire Hathaway affiliate, today announced the acquisition of Gloria Nilson & Co. Real Estate, a recognized leader in the New Jersey residential real estate market. Financial terms of the transaction were not disclosed.
Headquartered in Monmouth County, New Jersey, Gloria Nilson & Co. serves Central New Jersey and Eastern Pennsylvania with more than 730 sales associates in 25 offices located in Monmouth, Ocean, Mercer, Middlesex, Bucks and Morris counties. In 2016, the brokerage company closed more than 3,700 units and nearly $1.5 billion in sales volume.
Established in 1977, Gloria Nilson & Co. is one of New Jersey’s leading real estate companies, well known for its luxury representation and commitment to providing its agents and clients with the highest level of personalized customer service, local expertise, and resources. Dick Schlott, chairman, is among real estate’s most recognized leaders, and is known for his industry experience as well as his extensive community involvement and contributions. Schlott, together with president Pat Bell, will continue to lead Gloria Nilson & Co.’s strategic planning and growth initiatives, as well as manage the company’s day-to-day operations.
“Gloria Nilson & Co. is a premier company with excellent brand recognition, dedicated sales leadership, and talented agents,” said Ron Peltier, HomeServices’ chairman and CEO. “Their culture of service, integrity and community involvement closely aligns with our corporate vision and our emphasis on customer value and results.”
“We are proud to be part of the HomeServices of America family,” said Schlott. “We are joining an outstanding organization not only known for its exceptional strength and stability but one that shares our commitment to delivering the highest levels of personalized service and support, making this transaction a win/win for our clients, agents, and employees.”
“This is an important transaction for HomeServices and we are looking forward to having Dick, Pat, and their team join the HomeServices family,” Peltier said.
Gloria Nilson & Co. joins Houlihan Lawrence Real Estate and Berkshire Hathaway HomeServices New York Properties as the third company in the Tri State region to join the HomeServices family of companies this year. HomeServices’ Northeast regional footprint also includes Berkshire Hathaway HomeServices New England and Westchester Properties and Berkshire Hathaway HomeServices Fox & Roach, Realtors®.
Nationally, with this transaction, HomeServices has nearly 30,000 real estate professionals operating in nearly 600 offices across 28 states. In 2016, the company’s associates facilitated more than $94 billion in residential real estate sales.
About HomeServices of America
HomeServices of America is the country’s second-largest residential real estate brokerage company and, through its operating companies, is one of the largest providers of integrated real estate services. HomeServices of America is the majority owner of the Berkshire Hathaway HomeServices, Prudential Real Estate, and Real Living Real Estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. HomeServices’ operating companies offer integrated real estate services, including brokerage services, mortgage originations, title and closing services, property and casualty insurance, home warranties, and other homeownership services. HomeServices Relocation, LLC, is the full-service relocation arm of HomeServices of America, which provides every aspect of domestic and international relocation to corporations around the world.
Information about HomeServices is available at www.homeservices.com.
Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, and are used under license with no other affiliation with Prudential.
About Gloria Nilson & Co. Real Estate
Gloria Nilson & Co. Real Estate has serviced the most discerning buyers and sellers of residential real estate in New Jersey for more than 40 years with more than 700 sales associates within our offices throughout New Jersey and in Bucks County, Pa. As an exclusive affiliate of Christie’s International Real Estate in Mercer, Monmouth, Ocean, Southern Hunterdon and Southern Middlesex Counties, along with our luxury lifestyle magazine, we offer our clients and associates the most cutting edge marketing services globally and locally. For additional information, please visit www.glorianilson.com.