DEWOLFE COMPANIES INC
SC 13G/A, 1998-02-17
REAL ESTATE AGENTS & MANAGERS (FOR OTHERS)
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G
                   Under the Securities Exchange Act of 1934
                                (Amendment No. 5)

    
                           The DeWolfe Companies, Inc.
         ---------------------------------------------------------------
                                (Name of Issuer)


                          Common Stock - $.01 Par Value
        ----------------------------------------------------------------
                        

                                    252115100
                          -----------------------------
                                 (CUSIP Number)












                                Page 1 of 5 Pages


<PAGE>


- -------------------------                           ---------------------------
| CUSIP No. 252115100   |           13G            |   Page  2  of   5  Pages |
|           ---------   |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAMES OF REPORTING PERSONS                                         |
|        |  S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS                |
|        |                                                                     |
|        |  Richard B. DeWolfe                                                 |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [ ]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |  U.S.A.                                                             |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |  1,899,962                                        |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |  119,355                                          |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |  1,899,962                                        |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |  119,355                                          |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |  2,019,317                                                          |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |  56.4%                                                              |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |  IN                                                                 |
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                                Page 2 of 5 Pages


<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                                  SCHEDULE 13G
                                AMENDMENT NO. 5


Item 1(a)        Name of Issuer: The DeWolfe Companies, Inc.
                           
      (b)        Address of Issuer's Principal Executive Offices:

                           80 Hayden Avenue
                           Lexington, Massachusetts 02173

Item 2(a)        Name of Person Filing: Richard B. DeWolfe

      (b)        Address of Principal Business Office or, if none, Residence:

                           80 Hayden Avenue
                           Lexington, Massachusetts 02173

      (c)        Citizenship: USA

      (d)        Title of Class of Securities, Common Stock, $.01 par value

      (e)        CUSIP Number: 252115100

Item 3           If this statement is filed pursuant to Rule 13d-1(b), or 
                 13d-2(b), check whether the person filing is a

                           Not Applicable

Item 4(a)        Amount Beneficially Owned:                  2,019,317

      (b)        Percent of Class:                           56.4%

      (c)        Number of Shares as to which such person has:

                     (i)   sole power to direct the vote      1,899,962


                               Page 3 of 5 Pages


<PAGE>



                     (ii)  shared power to vote or to direct the vote 119,355
                           (the reporting person disclaims beneficial ownership
                           of these shares)

                     (iii) sole power to dispose or to direct the disposition of
                           1,899,962

                     (iv)  shared power to dispose or to direct the disposition
                           of 119,355 (the reporting person disclaims beneficial
                           ownership of these shares)


Item 5           Ownership of Five Percent or Less of a Class:
                           
                 Not Applicable

Item 6           Ownership of More than Five Percent on Behalf of Another 
                 Person:
                
                 Not Applicable

Item 7           Identification and Classification of the Subsidiary Which 
                 Acquired the Security Being Reported on by the Parent Holding 
                 Company:
        
                 Not Applicable

Item 8           Identification and Classification of Members of the Group:
                 
                 Not Applicable

Item 9           Notice of Dissolution of Group:
                           
                 Not Applicable

Item 10          Certification

                 Not Applicable


                               Page 4 of 5 Pages


<PAGE>



After reasonable inquiry and to the best of my knowledge and belief, I hereby
certify that the information set forth in this statement is true,
complete and correct.

                                February 13, 1998
                                -----------------------------------------------
                                Date


                                /s/ Richard B. DeWolfe
                                -----------------------------------------------
                                Signature


                                Richard B. DeWolfe
                                -----------------------------------------------
                                Name/Title


                               Page 5 of 5 Pages

 


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