Sep
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HomeServices of America Purchase Chicago’s Koenig & Strey Brokerage

September 01, 2009

HomeServices of America, a Berkshire Hathaway affiliate, announced the acquisition of  the Chicago based Koenig & Strey one of largest residential real estate brokerage firms. Under the new ownership structure, Koenig & Strey (officially Koenig & Strey GMAC Real Estate) will retain its name and become a franchisee within Brookfield Residential Property Services’ North American real estate network of almost 30,000 real estate professionals.  HomeServices is the nation’s second largest full-service independent residential real estate brokerage firm, and the largest brokerage-owned settlement services provider.

Founded in 1961, Koenig & Strey Real Living has approximately 900 agents throughout 21 offices serving Chicago, the North Shore, Lake County and the western suburbs, and is a leader in sales of luxury homes among the top general brokerage firms in the Chicago area. In 2008, the company’s sales were $2.6 billion.

The acquisition is the 21st for HomeServices, which now has more than 15,000 real estate professionals and 21 companies operating in 20 states. The HomeServices acquisition model focuses on market-leaders such as Koenig & Strey, with long-standing traditions for excellence.

“Koenig & Strey is a respected company, with an excellent reputation and long-term ties to the community,” said Ron Peltier, chairman & CEO of HomeServices. “This transaction exemplifies our vision of acquiring 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.”

“This transaction makes one of the premier firms within the Chicago area into an even stronger organization” adds Doug Ayers, president and CEO of Koenig & Strey. “By joining forces with HomeServices, we will be unmatched in our ability to serve the real estate and corporate relocation needs of new and existing clients in the Chicago area.”

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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