Park City Blog

BHHS Utah Listings Now on Wall Street Journal

By Berkshire Hathaway HomeServices Utah Properties
Feb 11, 2015

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All BHHS Utah are now featured on the Wall Street Journal. 

As part of a new partnership between Berkshire Hathaway HomeServices and Wall Street Journal, all of our firm listings now appear in the Wall Street Journal's online Real Estate search section. Search under Utah to view all relevant listings.

We are thrilled with the robust marketing efforts championed by Berkshire Hathaway HomeServices. As one of the most respected brands in the world, BHHS has the gravitas and powerhouse network to ensure every BHHS client benefits from utilizing our services.

As more and more consumers move their property searches online, you can be sure that as a BHHS client your listing is given every advantage in the digital sphere.WSJ Screen shot

The Wall Street Journal is a perfect match for the Berkshire Hathaway HomeServices brand. Accordingly, the brand has negotiated for affiliates to capitalize on all that the Journal has to offer. “We are excited to roll out this program,” said HSF Affiliates VP of Marketing Kerry Donovan. “From online, to print, to listing syndication, The Wall Street Journal reaches the affluent market we target through our brand.”  

In addition to being among the digital listing feed, BHHS has secured long term advertising for the brand in both the print and online edition of WSJ.

Our Market Share

By Berkshire Hathaway HomeServices Utah Properties
Feb 09, 2015

We're the most successful brokerage in Utah.

With $1.875 billion in sales in 2014, we are Utah's largest brokerage.

We are the leading representative of developments, luxury properties, and clients who value trust and results. It is an honor to represent the community we love--our results indicate more than success; they illustrate how passionate we are about providing the best real estate service in Utah.

In Park City, we hold healthy margins in all key market areas. Our market share supports firm clients by increasing their reach and removing complexity from the intricate process of buying and selling property. Buyers and sellers can be assured that they are dealing with established professionals who are supported by Park City's most recognized and experienced real estate company.

Here's how we stand in Park City:

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A Year in Review

By Berkshire Hathaway HomeServices Utah Properties
Jan 05, 2015

Reflecting on 2014.

2014 was momentous for our company.

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Our June transition to Berkshire Hathaway HomeServices was a success and has already contributed substantively to our growth throughout northern Utah. Adopting the most respected brand in the world (according to Barron's famed annual poll) has provided us with the latest in sophisticated market watching and marketing tools. From proprietary digital e-mail systems, advanced market statistic reports, and cutting edge social media monitoring, our clients are given every advantage needed to position themselves successfully and make informed decisions in today's market. 

In 2014, we were also named the largest brokerage in Utah in terms of sales volume, with over $1.8 billion in sales.* It is an honor to be Utah's choice real estate firm, and we look forward to building on our stronghold. Locally, the arrival of Vail with its newsworthy purchase of Park City Mountain Resort and its announced intention to combine Canyons Resort with PCMR has energized the town and the real estate community. As the largest development brokerage in Park City, we look forward to contributing to the responsible growth of our town and market.  

*2014 announcement reflects sales volume achieved in 2013 according to MLS statistics. 

2014 Market Recap.
  • Our marketplace remains highly segmented. 2014 illustrated the complexity of our local market place. Given the variety of product and price points in our real estate community, it is not surprising that certain areas such as Old Town and Heber Valley saw intense activity and growth, while other areas like Park Meadows saw erratic price variation. As ever, the assistance of an informed professional remains critical. 
  • Median sale price increased. While vacant land and certain neighborhoods saw stunning price increases, most areas saw a gradual and measured increase of median price. 
  • Inventory remains low. We witnessed limited inventory, particularly in Q2 and Q3 but predict that given the excellent climate for selling, we will see a return of more options in 2015. 
  • The development market has returned. BHHS Utah represents more developments than any other Park City brokerage and can say with authority: the development market is healthy and heating up. From large acreage ranch properties to contemporary luxury builds in Deer Valley, Summit and Wasatch counties are entering a period of intense growth. Investment opportunities abound.  
  • Consumers found their confidence. Consumer confidence returned to pre-recession levels, which had a hugely positive and stabilizing effect on the domestic real estate market. 
  • The market as a whole has normalized. Distressed sales and failed developments are a thing of the past. In 2014, the market returned to pre-2008 levels.

What we expect from the market in 2015.

  • Our market will remain segmented. Park City offers real estate options for every buyer, which makes our jobs here a bit easier. It also means that each neighborhood operates as its own market.
  • Inventory will return. Inventory remained relatively low in 2014 (there was a slight increase from 2013), but it seems likely that sellers will capitalize on the current climate, which will increase inventory gradually over the course of 2015.
  • Vail's purchase will have a positive effect on Park City's market. Vail's creation of the largest ski resort in America is sure to have a positive impact on our market place. We have already seen price increases in and around Canyons Resort and Old Town. 
  • Foreign buyers and visitors will increase. While foreign buyers have historically accounted for less than 1% of local buyers, Vail's arrival and its roster of foreign Epic Pass holders along with Salt Lake's ever growing economy will result in an increase in international visitors and potential foreign buyers. As a global brokerage, we are equipped to meet the needs of and reach a global client base.
  • More development. Summit and Wasatch counties will continue to garner interest from developers, meaning new and different product for buyers to select from. 

January Events:

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12/31 Canyons New Year's Eve Celebration and Fireworks

12/31-1/3 The WHO Show performing "Tommy-the Rock Opera"

1/2-1/4 Park City Film Series - Antarctica: A Year on Ice

1/1/-1/4 The Interview premiers at the Park City Film Series

1/7-1/10 FIS Freestyle Ski World Cup at Deer Valley Resort

1/10 Winter Trails Day at Soldier Hollow

1/17 Park City Institute presents Aiofe O'Donovan at Eccles Center

1/22-2/1 Sundance Film Festival

Our Brand Extends Your Reach

By Berkshire Hathaway HomeServices Utah Properties
Jun 18, 2014

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As you have hopefully seen, the Press Release announcing our conversion to the powerhouse Berkshire Hathaway brand has traveled far and wide.

In addition to the Park Record, Salt Lake Tribune, and Deseret News, our Press Release was picked by numerous leading national and international venues including Wall Street Journal’s Marketwatch, Bloomberg.com, Yahoo Finance, and Business Wire. Over 600 international sites in 27 countries, ranging from France, to China, to India, posted our release. Already, more than 5,000 internationals have viewed news of our conversion.

After just two weeks under our new brand, our agency has seen the tangible results of being part of the world’s most-respected brand. The global recognition that Warren Buffett and Berkshire Hathaway command has translated into increased traffic to our website and online listings.

We are also thrilled to have made the cover of the first edition of Berkshire Hathaway HomeServices' Prestige Magazine, which has a distribution that spans the globe and goes to the mailboxes of Berkshire Hathaway's illustrious clientele. It also graces the lounges of the most high-end airlines in the world, including Aeroflot, British Airways, Cathay Pacific Airlines, Emirates Airlines, as well as many significant Asian and European companies.

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Between the buzz surrounding our conversion, the launch of Prestige Magazine, BHHS’ national ad campaign, and our agency-wide marketing push, our brand guarantees that Berkshire Hathaway Utah Properties agents and listings are seen on every relevant channel...from Utah to Korea.

In addition to our robust marketing platform, we have also gained access to Berkshire Hathaway’s unique market analytics. As a longtime industry investor, Berkshire Hathaway aggregates data from several proprietary sources to provide our industry professionals with fresh and comprehensive real estate statistics that no other competitor can provide. We believe strongly that agents should be given all the tools and information needed to help clients make informed decisions in the marketplace.  

Looking for a taste of the tools BHHS has produced to keep our buyers and sellers informed?

Find out how much your home is worth. Explore community demographics and information.

Then, reach out to your BHHS Utah agent.

A New Residential Real Estate Franchise Brand - Berkshire Hathaway HomeServices®

By Berkshire Hathaway HomeServices Utah Properties
Oct 31, 2012

MINNEAPOLIS, MINN. (Oct. 30, 2012) HomeServices of America, Inc., a Berkshire Hathaway affiliate, and Brookfield Asset Management, announced today that they have partnered to introduce Berkshire Hathaway HomeServices® a new franchise brand that joins the existing brands and affiliate networks of Prudential Real Estate and Real Living Real Estate.

Berkshire Hathaway HomeServices® combines the financial strength of both organizations coupled with the operational excellence of HomeServices and superior real estate franchising experience of Brookfield.

The combined networks of more than 53,000 Prudential Real Estate and Real Living Real Estate agents generated in excess of $72 billion in residential real estate sales volume in 2011, and operate across more than 1,700 U.S. locations.

“Berkshire Hathaway HomeServices is a new franchise brand built upon the financial strength and leadership of Brookfield and HomeServices,” said Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. “I am confident that these partners will deliever value to the residential real estate industry, and I am pleased to have Berkshire Hathaway be a part of the new brand.”

“We are honored and proud to be entrusted with the use of the Berkshire Hathaway name as our new real estate franchise brand,” said Ron Peltier, chairman and CEO of HomeServices. “We will convey the strength of Berkshire Hathaway’s reputation and its associated principles of integrity and financial stability in everything we do.”

Berkshire Hathaway HomeServices® unites proven operational excellence, demonstrated integrity and the reputation of Berkshire Hathaway – among the world’s most admired companies, according to Fortune’s 2012 ranking – to deliver its real estate franchise offering in the market. This combination enables brokers and affiliates to attract and retain the best agents to provide superior customer service and to drive performance and profitable growth. Berkshire Hathaway HomeServices® will be available in 2013.

“The strength of the Berkshire Hathaway name, coupled with the operational excellence of HomeServices and the franchising experience of Brookfield, positions Berkshire Hathaway HomeServices® as a leading real estate franchise in the U.S., building on our traditions of exceptional client service and innovation. Brookfield is excited to be a partner in creating a home for the best real estate brokers and agents in the country,” said Bruce Flatt, Brookfield Asset Management CEO.

Berkshire Hathaway HomeServices® will be led by an experienced management team including Earl Lee, Chief Executive Officer; Stephen Phillips, Chief Operating Officer; Brian Peterson, Chief Financial Officer and Aleya Chattopadhyay, Chief Marketing Officer.

Information about Berkshire Hathaway HomeServices® is available at: www.berkshirehathawayhs.com

About HomeServices of America, Inc.

HomeServices of America, Inc. is the nation;s second largest, full-service residential brokerage firm and one of the largest U.S. providers of integrated real estate services. HomeServices is owned by MidAmerican Energy Holdings Company, a consolidated subsidiary of Berkshire Hathaway Inc. Since it became a MidAmerican affiliate in 1998, HomeServices has grown from 4,000 agents in three markets to more than 16,000 agents in 21 states. HomeServices is comprised of some of the industry’s most respected real estate firms, specializing in brokerage, mortgage, title and escrow services, insurance and relocation. Each of the HomeServices’ companies has been serving clients for an average of more than 60 years and is regarded for unparalleled service.

During 2011, the company’s associated facilitated nearly $32 billion in residential real estate sales and closed over $3.0 billion in home mortgages. From 1998–2011, HomeServices transacted nearly 1.9 million brokerage units with a total sales volume of more than $506 billion.

For more information, visit www.homeservices.com

About Brookfield Brookfield Asset Management Inc. is a global alternative asset manager with over $150 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. It has a range of public and private investment products and services. Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAMA, respectively, and on NYSE Euronext under the symbol BAMA.

Brookfield Residential Property Services is a leading global provider of real estate and relocation services, technology and knowledge, and a division of Brookfield Asset Management. Through its North American real estate and relocation operations, it has more than 75,000 real estate professionals in more than 2,800 locations, transacting over $150 billion in 2011.

Prudential Real Estate and Real Living franchisees are independently owned and operated. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities and are used under license, with no other affiliation with Prudential.

For more information, visit www.brookfield.com

Marisa Mulqueen Office: 212-704-8112 Mobile: 646-351-2309

 
 
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