Buffett's firm buys Prudential real estate network

Peltier said the independent local brokers that HomeServices already owns won't be forced to switch affiliation to the new franchise network, but they will begin noting they are owned by Berkshire Hathaway. For example CBS Home Real Estate in Omaha will keep its name, but add that it's a Berkshire Hathaway affiliate.

Peltier said that will help ensure that both the independent brokers it owns and Berkshire Hathaway HomeServices locations will show up in Internet searches.

Berkshire owns roughly 80 subsidiaries, including railroad, clothing, furniture and jewelry firms, but its insurance and utility businesses typically account for more than half of the company's net income. The Omaha, Neb., company also has major investments in such companies as Coca-Cola Co., IBM and Wells Fargo & Co.

Brookfield, based in Toronto, manages more than $150 billion worth of utility, infrastructure and real estate assets.

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Follow Josh Funk online at www.twitter.com/funkwrite

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Online:

Berkshire Hathaway HomeServices: http://www.berkshirehathawayhs.com

Berkshire Hathaway Inc.: www.berkshirehathaway.com

Brookfield Asset Management: http://www.brookfield.com