Berkshire Hathaway real estate office in Venice

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VENICE, FL - The fourth richest person in the world is investing in Florida real estate. Warren Buffett's run company Berkshire Hathaway taking over Prudential Florida Realty.

The impacts are reaching places like Venice, where there are 38 agents. As you might imagine they are excited about the changes and excited about what it means for real estate here locally.

The company is still owned by WCI Communities but partnering with Buffett's group. The local branch located on Venice avenue already visually transformed into the new branding. Realtors there like Charryl Youman say the new name is bringing more than a lot of buzz. Helping with resources both foreign and domestic. Also saying it's a good sign of things to come because Buffett has a way of knowing when to strike. "Warren Buffett has a good feel for good business and I think that is a vote of confidence for our market. Particularly Southwest Florida. It's a known brand and it's a game changer in the real estate industry. We are so excited to be apart of it."

As far as the local real estate market goes the group says right now their biggest challenge is getting more homes to sell. That goes for all realtors. Healthy markets have around a six month supply of homes for sale. In Venice right now they say it's under three months and possibly only two.