Berkshire Hathaway HomeServices Commonwealth Real Estate has acquired Cambridge’s largest independent brokerage.
The company announced yesterday that it will buy ePlace Real Estate, a transaction that comes with the veteran leadership team of Bill Scott and Denise Price and 35 skilled agents, which in 2017 generated nearly $75 million in sales volume.
Berkshire Hathaway HomeServices Commonwealth Real Estate will merge its existing Cambridge office with the ePlace Real Estate team and the group will operate as Berkshire Hathaway HomeServices Commonwealth Real Estate from offices at 830 Massachusetts Ave., in the heart of Central Square between Harvard University and MIT.
“Cambridge is such an important market for us and now we have a dream team in the market,” George Patsio, a founding partner at Berkshire Hathaway HomeServices Commonwealth Real Estate, said in a statement. “Bill Scott and Denise Price are terrific operators and we’re delighted they will lead the expanded team. We are eager to continue growing this team beyond its current reach in Cambridge, Somerville and Boston’s western suburbs.”
“After a decade in business as an independent, ePlace as an organization is healthy, unique and primed for growth,” Scott, founder and president of ePlace Real Estate, said in a statement. “In Berkshire Hathaway HomeServices Commonwealth Real Estate we gain an alliance with the same values and commitments we nurtured in our own organization over the past decade. We’re excited for the future as part of this company and exciting brand.”
Price said in a statement that she is proud to connect her team to Berkshire Hathaway HomeServices, an iconic brand whose namesake is Berkshire Hathaway Inc., one of the world’s most trusted and respected corporations.
“We believe the brand will provide us even more distinction in the marketplace,” she said. “Bostonians will understand the marketing appeal, reputation and financial stability of Berkshire Hathaway HomeServices. We’re eager to represent the brand in greater Cambridge.”
Over the past decade, ePlace Realty sold nearly a billion dollars in real estate sales volume and rented more than 2,500 apartments.
Gino Blefari, CEO of Berkshire Hathaway HomeServices, applauded the transaction and welcomed Scott, Price and their team to the network.
“ePlace Realty has been a terrific and respected operator in Cambridge for years,” he said in a statement. “The team is strong, talented and will continue to grow as a part of Berkshire Hathaway HomeServices Commonwealth Real Estate.”
