Chairman and CEO, HomeServices of America
Overall Rank: 4
Category: Corporate Execs
Category Rank: 3
Peltier and the massive real estate company he leads, HomeServices of America, had a mixed 2016. HomeServices is the nation’s second largest brokerage behind Realogy’s NRT and the owner of the franchise network HSF Affiliates, which owns and runs the Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate brands. HomeServices of America has over 26,300 agents in 479 offices who do over 250,000 annual transactions for over $79 billion in annual sales.
In the first nine months of 2016, HomeServices posted strong growth numbers: revenues increased by 10 percent from the previous year from $1.95 billion to $2.2 billion and net income jumped by 11 percent from $161 million to $179 million. Highlights of the year were driven by two major acquisitions: Denver-based Kentwood Real Estate and Jacksonville, Florida-based Berkshire Hathaway HomeServices Florida Network Realty.
However, as its parent company’s financial filing notes, the existing brokerage businesses only posted a 1.1 percent increase in transactions and a 1.9 percent increase in home sales price, and its increase in operating income was attributable mostly to higher mortgage revenues and acquisitions, partially offset by lower net revenues from its existing brokerage offices. Much like its biggest competitor, Realogy, HomeServices was not immune to market conditions in 2016.
Nonetheless, gains are gains, and Peltier remains the unquestioned leader of the second largest real estate conglomerate in America. As one of the founders of The Realty Alliance, and a director of independent brokerage network Leading Real Estate Companies of the World, Peltier has always been one of the central figures in the power struggle between. However, Project Upstream, the flagship initiative in that power struggle that Peltier and right-hand man Bob Moline had a big hand in spearheading, has not accomplished as much throughout 2016 as was expected, especially given the moves in 2015. Combined with the outstanding performance of both Zillow Group and Keller Williams in 2016, Peltier moves down slightly in the rankings this year.
Peltier has been HomeServices CEO since its inception in July 1999. He holds a Master’s in Business Administration from the College of St. Thomas and a Bachelor’s degree from the University of Minnesota where he was a hockey standout.