HomeServices of America announced Tuesday that company President and CEO Gino Blefari is leaving his role, to be replaced with Chris Kelly.
In a statement, the company said Blefari — who became CEO of the brand over five years ago — will continue on as an advisor and with the title “chairman emeritus.” Kelly had been serving as executive vice president of HomeServices of America before the promotion. The changes are effective immediately, the statement notes.
Blefari said in the statement that it was “the honor of a lifetime to serve as president and CEO of HomeServices of America.”
Gino Blefari
“I am incredibly proud of what we have accomplished together and the exceptional team we have built,” Blefari continued. “I look forward to supporting our new leadership team as they lead HomeServices into its next chapter of growth, innovation and continued industry leadership.”
HomeServices of America owns the Berkshire Hathaway HomeServices franchise network and is itself owned by Berkshire Hathaway Energy. The latter firm is a subsidiary of Warren Buffett’s Berkshire Hathaway.
The leadership shakeup comes during a period of intense change for the real estate industry. In the case of HomeServices, specifically, the company settled antitrust litigation almost exactly one year ago, agreeing to pay $250 million. The company was also the subject of rumors that it was a potential acquisition target for rival Compass — rumors that Blefari denied and which Compass wouldn’t comment on.
More broadly, however, consolidation has been intense in recent months with both Rocket and Compass making major plays for large companies. And that consolidation comes as the industry has grappled for years with high mortgage rates and resultantly lower sales.
An email to Inman announcing the leadership change at HomeServices describes the present moment as a “transitional time” in the industry.
Chris Kelly
Tuesday’s statement paints an optimistic picture of the future under Kelly’s leadership. The statement notes that Kelly has worked in real estate for more than 25 years, beginning as an attorney. He joined HomeServices in 2007, working as general counsel for ReeceNichols, a subsidiary based in Kansas City.
“Since then, he has held a variety of senior leadership positions across the organization, including serving as president and CEO of the Ebby Halliday Companies in North Texas,” the statement adds.
Kelly himself said in the statement that he is “humbled to step into this role following Gino Blefari, an industry icon, and to partner with our team to continue driving what makes HomeServices so unique.”
“Across brokerage, mortgage, title, insurance and franchise, our professionals are the very best in the business,” Kelly added. “Our mission is simple: to support them in every way possible as they serve their clients and communities. We have no doubts about having the most professional, focused team in the industry, and we look forward to working together to shape the future of real estate.”
