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Northwood Acquires PA based BHHS The Preferred Realty

In a video announcement released yesterday, Tom Hosack, President and CEO and Broker of Record of Northwood Realty announced the acquisition of Berkshire Hathaway HomeServices The Preferred Realty, creating what may be the largest real estate company in the greater Pittsburgh marketplace. The combined company forecasts more listings, more closings and more sales volume than any other competitor.  For years, Howard Hanna has been in the first position followed by Northwood, Coldwell Banker and BHHS The Preferred Realty.

Beyond the real estate franchise brokerage, Northwood also acquired the affiliated service businesses including The Preferred Insurance Company, The Preferred Property Management, Preferred Settlement, Real Estate Educators, and Real Estate Referral Associates of Pennsylvania. The merger consolidation of all of the businesses is expected to be complete by August 16th, according to the announcement.

Through the acquisition, the Northwood Realty brand will be retired in favor of the Berkshire Hathaway HomeServices brand. To be clear, the new combined company will remain a franchise and has not been acquired by Home Services of America. Hosack mentions in the announcement video that he believes that the BHHS brand will support their continued expansion geographically, and shore up the company’s positioning in the luxury market.

Tom Hosack will continue to lead the consolidated company as President, CEO, and broker of record for the firm. Hosack reinforces that the commission plan will stay the same and the company will retain its core values. Hosack has long held that real estate agents need Continue reading