The Northern Virginia real estate market, which for the past decade has experienced significant churn among the main players, took another turn Sept. 7, when Long & Foster Cos. announced it would be acquired by HomeServices of America, an affiliate of Berkshire Hathaway.
The ownership change will impact 11,000 Long & Foster agents spread across 230 offices throughout the local area and broader region, who in 2016 combined for more than 81,000 home sales.
The sale to HomeServices also includes Long & Foster’s affiliated Prosperity Mortgage and firms focused on settlement services and insurance.
Wes Foster Jr., who in 1968 cofounded the firm with Henry Long, said in a statement that HomeServices of America was “the right partner to maintain the legacy, culture and integrity” of his firm.
