Nearly two years after Warren Buffett’s company acquired the Prudential and Real Living real estate franchise to launch Berkshire Hathaway HomeServices, Prudential Dinning-Beard said it will join the Berkshire HomeServices network and take on a new name that won’t include Dinning or Beard.
Dinning-Beard, one of the area’s largest residential real estate firms, announced Friday that it will be known as Berkshire Hathaway HomeServices PenFed Realty, effective in December.
The new name also reflects the December 2012 acquisition of Dinning-Beard by PenFed Realty, a Washington, D.C.-based subsidiary of Pentagon Federal Credit Union.
Willie Kihle, Dinning-Beard’s managing broker, said that PenFed Realty’s affiliation with Berkshire HomeServices will benefit the agents and clients of the firm’s Wichita operations.
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“When you look at the franchise, they bring a great deal to the table for the company and the agents, which obviously trickles down to our buyers and sellers,” Kihle said in an interview.
He said there is untold value in “just the brand awareness” of the Berkshire name. Berkshire Hathaway, in making the decision to get in the (real estate) business … they don’t do anything halfway. They are a very powerful company.”
Kihle also said real estate firms that already have taken on the Berkshire affiliation seem to have seen benefits.
“It’s been well received,” he said. “It brings a great deal of excitement to the business.”
The Berkshire HomeServices network comprises more than 31,000 real estate professionals working from 905 offices in 42 states.
Dinning-Beard, founded in 1948, has 275 agents and operates offices in Augusta, Newton and east and west Wichita.