Bill and Barbara Eudailey started a residential real estate firm in 1973.
They grew the Eudailey Real Estate business, located in Henrico County, over the years. Their sons, Billy and Blake, joined them in the business.
But Bill Eudailey died in 2013. Son Billy Eudailey retired in February 2018.
Barbara Eudailey, the owner and principal broker, decided it was time to sell the business.
After two years since first talking to Berkshire Hathaway HomeServices PenFed Realty, she sold her business to the Alexandria-based brokerage.
The transaction is expected to be completed on Sunday. Terms of the deal were not disclosed.
"I'm just ready to retire," the 85-year-old Barbara Eudailey said.
Selling to Berkshire Hathaway HomeServices PenFed Realty was the right move, she said. "Everybody I have met seems to be the nicest people," she said.
"We quickly recognized PenFed Realty was not just another brokerage looking to amass agents," said Blake Eudailey, who joined the family real estate business in 1986 and was the firm's managing broker.
"PenFed Realty is truly committed to our agents, investing in the training, tools and technology necessary to provide first class service to our clients."
Eudailey Real Estate eventually will change its name to Berkshire Hathaway HomeServices PenFed Realty.
The Eudailey location at 9012 Three Chopt Road will remain and becomes PenFed Realty's fourth office in the Richmond region. The firm's has an office in Chesterfield County and two in Henrico County.
Eudailey Real Estate has 18 agents. Blake Eudailey will remain as an associate broker concentrating on sales. His mother becomes an associate broker to keep her real estate license active, but she said she is looking forward to not having a lot of work related plans.
"We think they are great match and a great family and a great family name," Ray Ferguson, regional vice president of Berkshire Hathaway HomeServices PenFed Realty in Richmond.
"We are very happy to be working with them," said Ferguson, who has been in the real estate business since 1989 and joined PenFed Realty last October. "When the time came for them to make a family decision of what to do, we felt like we would be a great match."
As part of the deal, Berkshire Hathaway HomeServices PenFed Realty picks up the small property management business that Eudailey Real Estate had. The combined firm now oversees nearly 300 property management accounts in the Richmond region.
Meanwhile, Berkshire Hathaway HomeServices PenFed Realty is making a number of its changes to its Richmond-area operations.
It acquired its office at 2737 McRae Road in Chesterfield for $1.07 million on Aug. 19, county property tax records show. The firm's predecessor companies had operated from there since 1974.
Plans call for a major renovation of the building, Ferguson said.
The brokerage also is relocating its office at 910 North Parham Road, which is just south of Patterson Avenue, to an outparcel building at Regency mall in October. It will be along Parham Road in between the Bettermed Urgent Care and a Panera Bread restaurant.
Alexandria-based Prudential PenFed Realty joined the Berkshire Hathaway HomeServices family of real estate brokerage franchise networks in late 2014 and formally became Berkshire Hathaway HomeServices PenFed Realty.
A couple of months later, the company entered the Richmond market when Prudential Slater James River Realtors, a leading brokerage firm in the Richmond area, became part of Berkshire Hathaway HomeServices PenFed Realty.