A real estate agency platform under the wing of Warren Buffett – the world’s best known business guru – comes to Spain.
Berkshire Hathaway HomeServices has announced its expansion into Spain with an agreement with a Madrid-based agency called LARVIA, who also have an operation in Barcelona.
Who are Berkshire Hathaway HomeServices? They describe themselves as “a real estate brokerage franchise network designed for today’s real estate market.” So it’s a type of platform for a network of brokers and agents who get to use the brand, technology, methods and ethics of Berkshire Hathaway HomeServices.
“When people are making the decision of the magnitude of buying a house, it’s the biggest decision a great many families will ever make,” explains the ‘Sage of Omaha’ Warren Buffett himself. “They want to know who they’re working with and we think that Berkshire Hathaway name will be reassuring to many of those people.” This is especially true of Spain, where high transaction costs, zero market transparency, and low levels of professionalism in the business make buying a home in Spain a riskier endeavour than it should be.
First established in the US, it seems that with Berkshire Hathaway HomeServices you can now buy and sell property in four European countries – the UK, Germany, Italy and now Spain.
“Spain has always been a primary target of our global expansion,” explains Gino Blefari, chairman of Berkshire Hathaway HomeServices. “The country is welcoming with incredible people, a rich history and culture, and it’s a vital hub for global trade, tourism and commerce. LARVIA will connect our network to the region and beyond, as Spain is a center for many European and Latin American clients.”
LARVIA is part of Petrus Grupo Inmobiliario, and is run by CEO Bruno Rabassa. “We are proud to represent Berkshire Hathaway HomeServices in Spain,” says Rabassa. “The brand’s namesake is Berkshire Hathaway Inc., one of the world’s most trusted and respected corporations. As important, we join a network of strong and thriving companies, and we look forward to exchanging client referrals and best practices with those companies.”
Rabassa says he plans to grow LARVIA in Madrid, Barcelona and other key markets in Spain, and will launch an aggressive recruiting campaign seeking more of the best agents in the market.
“We hope to double our current size in Madrid and Barcelona within a year,” he explains. “After that, we will expand to other strategic markets. The message is clear for local estate agents: If you want to take your career to new heights with a respected Spanish estate agency, and also connect with a thriving global real estate network, we want to talk to you.”