Warren Buffett, the world’s most famous investor, got some mud kicked in his face this week. His real estate brokerage, Berkshire Hathaway HomeServices, lost one of its top producers to rival Keller Williams in Buffett’s own backyard: Omaha, Nebraska.
Jeff Cohn and his 35-person team, Omaha’s Elite Real Estate Group, will be moving to a new technology-driven Keller Williams “Market Center” in West Omaha, the company said this week. The new office is a 15-minute drive from Buffett’s five-bedroom home on Farnam Street, on the west side of the city.
Buffett bought his Omaha home for $31,500 in 1958. It’s now valued by Zillow at about $1 million. Buffett often refers to it as the “third-best investment” he’s ever made, after the wedding rings he purchased for his first wife, who died in 2004, and for his second wife, for their 2006 marriage. Forbes puts Buffett’s net worth this month at about $88 billion.
“We’re excited to announce that we’re going to be officially launching a Keller Williams franchise in West Omaha on Jan. 1,” Cohn said in a Facebook video he posted on Tuesday. “We believe having a one-stop solution for the consumer is the future, and going into this next decade, it’s imperative that we’re serving our clients at the highest level.”
The new office will have mortgage, title, insurance and other services, Cohn said.
Cohn’s team was No. 1 at Berkshire Hathaway HomeServices in 2018, according to RealTrends. For the last four years, his team has been No. 1 in Nebraska, according to Berkshire Hathaway.