Houlihan Lawrence, one of the largest and oldest residential real estate firms in Westchester County, has been acquired by HomeServices of America Inc., a Berkshire Hathaway affiliate. Terms of the transaction were not disclosed.
Nancy Seaman will step aside as chairman while her brothers Stephen Meyers, president and CEO, and Chris Meyers, managing principal, will continue to lead the firm”™s strategic growth initiatives and manage day-to-day operations, according to a press release. Houlihan Lawrence will retain its name. The brokerage has 1,300 sales associates and 30 suburban sales offices in Westchester, Putnam, Dutchess, Orange and Ulster counties, as well Connecticut’s Fairfield County. Last year, Houlihan Lawrence closed $6.7 billion of sales volume.
“We are joining an organization known for its strength and stability,” Stephen Meyers said in a statement. “Our partnership secures the future of the firm without changing the exceptional culture that is core to our storied brand. We are thrilled with this announcement and the many benefits it brings to our clients and agents.”
“When you combine the incredible strength of our people and the remarkable history of our success with the unsurpassed financial stability of HomeServices, there is no limit to what we can accomplish,” Chris Meyers said.
“Nancy, Stephen and Chris, together with their team of sales managers and agents, have built an extraordinary organization and exemplify a level of expertise and leadership that is second-to-none in the real estate business today,” said Ron Peltier, chairman and CEO of HomeServices. “Their culture of integrity and innovation closely aligns with our corporate vision and our emphasis on customer value and results.”
With this transaction, HomeServices has nearly 29,500 real estate professionals operating in 570 offices across 28 states. In 2016, the company”™s associates facilitated more than $93 billion in residential real estate sales.
Houlihan Lawrence was established in 1888 when the Bronxville estate of James Minot Prescott was bought by William Van Duzer Lawrence as the future site of his Lawrence Park homes. Lawrence converted the gatehouse on the property into a sales office for the new development, which would be modeled on the artist colonies of France”™s Fontainebleau Forest. This past summer, the Rye Brook-based brokerage reopened the historically restored original office at 4 Valley Road in Bronxville.
In spring 2015, Houlihan Lawrence acquired Shore & Country Properties in Greenwich. The acquisition followed news that Kelly Associates’ offices in Darien and Rowayton had joined the Houlihan Lawrence network. Houlihan Lawrence first entered the Fairfield County market in September 2013 with an office on West Putnam Avenue in Greenwich.
Opening a Greenwich office had been a longtime strategic goal for the company since its chairman Nancy Seaman, and her brother, Chris Meyers, are both longtime Greenwich residents.
In addition to growing business in the New York metropolitan area, the brokerage made inroads with the large influx of Chinese homebuyers in Westchester and Fairfield counties. Early in 2016, it launched a Chinese-language version of its website.
Even Warren Buffet can make a mistake. I regard Houlihan Lawrence as an inferior operation. Perhaps its long tenure in the industry is the reason for becoming rather slovenly in its ethics and integrity. I speak as a recent customer.