Prudential Floberg to become part of Berkshire Hathaway

2014-05-17T00:00:00Z 2014-05-19T00:00:08Z Prudential Floberg to become part of Berkshire HathawayBy ERIK OLSON eolson@billingsgazette.com The Billings Gazette

One of Billings’ oldest and largest real-estate firms is getting a new name attached to one of the biggest financial figures in the country.

Prudential Floberg Realtors, which traces its roots back to 1959, will become Berkshire Hathaway Home Services Floberg Real Estate starting July 1.

Prudential was bought by the Warren Buffett-owned Berkshire Hathaway two years ago, and Floberg is the first Montana firm to make the switch, managing partner Linda Parker said.

“It’s a very well-respected company, well-known. Not everybody has heard of Berkshire Hathaway, but they have heard of Warren Buffett,” Parker said Friday.

The highly recognizable blue Prudential signs in town will be replaced by Berkshire Hathaway’s maroon-and-white signs, Parker said.

Then-named Floberg Companies was founded as a one-man office by Don Floberg in 1959 and became affiliated with Prudential three decades later in 1990. Floberg and his wife, Marilyn, remain partners in the business. Mike Oliver is the fourth partner.

Parker said the firm’s 60 agents are excited about the change, which will give them access to more market statistics for clients and greater national exposure. Besides the name change, daily operations and management should remain the same.

Floberg’s main office is on Poly Drive in Billings.

Buffett’s Berkshire Hathaway bought Prudential in 2012 from Brookfield Asset Management, a Toronto-based capital firm that specializes in turning around struggling companies. Analysts said the vote of confidence from Buffett, known as the “Oracle of Omaha,” was a good sign for the recovering national real estate industry.

In Billings, Parker said the market is heating up just in time for the switch to Berskhire Hathaway.

“The weather has shaped up, and we’re very busy,” she said.

Copyright 2014 The Billings Gazette. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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