In October 2019, magnate Warren Buffet and Berkshire Hathaway HomeServices, his network of real estate mediation offices, began operating in Spain, thanks to their alliance with Larvia, one of the main real estate agencies in the country. Both companies have started to operate under the name of Berkshire Hathaway HomeServices Larvia.
This merger has (at the moment) three offices in Madrid and one in Barcelona. Although the objective is to grow in the number of offices and in turnover and its immediate strategy would be not only to double its size in the two main cities of the country, but also to grow in those cities where there is a stable demand. And among them Mallorca. It is expected that 40 offices will be opened in the next ten years.
This agreement is a big step for Larvia, joining a network of agencies that has grown to more than 50,000 agents and 1,500 offices in the United States, Europe and Dubai in just six years of existence, generating, in 2018, 114,500 million dollars in sales volume. For its part, Berkshire Hathaway HomeServices has seen Spain as a point of attraction for all international clients (not just investors)
Berkshire Hathaway HomeServices Larvia will focus on the sale of luxury homes from 700,000 euros. In Madrid there are more than 200 references for sale, all of them second-hand, and around 70 in Barcelona city. However, the new group recognizes contacts with developers for the sale of new luxury construction.
With regard to turnover, Rabassa, CEO of Berkshire Hathaway HomeServices Larvia, admits that next year they plan to increase the figure by 2.5 points and thus reach five million euros with this new alliance. “For the next ten years we have to multiply the figure by 12”, he adds.
The open-mindedness of Berkshire Hathaway HomeServices also means that the new agency does not close itself off from managing other types of commercial or hotel assets.