In a stunning development today, it was announced that two of the largest and most long-standing, well-known independent real estate firms – a Carolinas regional giant as well as an East Coast/Mid-Atlantic/Midwest giant – are joining forces. This new alliance creates an organization with more than 326 offices and 11,000 sales associates across nine states. The two firms aligning are renowned regional giant Howard Hanna Real Estate Services and leading Carolinas firm Allen Tate Companies, both established in 1957. Howard Hanna’s market reach spans eight states including Pennsylvania, Ohio, New York, North Carolina, Virginia, West Virginia, Maryland and Michigan. The news was announced today by Pat Riley, president and CEO of the Allen Tate Companies, to agents and employees gathered for their convention, Momentum 2018, at the Charlotte Convention Center.
Helen Hanna Casey and Howard W. “Hoddy” Hanna, III, released a special announcement on the partnership to their agents:
The move is the first of its kind for the market-leading, privately owned real estate companies in the Carolinas, and creates an East Coast/Mid-Atlantic/Midwest giant with more than 11,000 agents and employees in 326 offices across nine states.
“This union brings together first-rate real estate professionals from two of the most respected and trusted companies in the business and blends them into one unified organization,” said Riley. “The similarities of our two great companies are amazing and are the reason we have been successful individually. They serve as a road map to the combined success we intend to create via joint ownership.
“Both companies are full-service, offering mortgage, title, relocation and insurance products to buyers and sellers, in addition to brokerage services,” Riley said. “Our mottos are ‘We Are Home’ at Allen Tate and ‘Home Happens Here’ at Howard Hanna, and we are both members of Leading Real Estate Companies of the World®, the most powerful connection in the world of real estate. This partnership speaks volumes as far as ensuring our clients will continue to receive all the services and homeownership products they have been accustomed to, and so much more.”
Allen Tate and Howard Hanna represented the No. 10 and No. 3 top-ranked real estate firms in the U.S. by transaction volume, according to RISMedia’s 2018 Power Broker Report. Combined, the two firms facilitated more than 112,000 home-sale transactions in 2017, with a closed sales volume of more than $23 billion, according to RISMedia. The partnership makes the two companies the top residential real estate producer in Pennsylvania, Ohio, New York and the Carolinas, according to the companies.
“Howard Hanna and Allen Tate have grown up together in the industry, and together, we will continue to do great things,” said Hanna Holdings, Inc. Chairman Howard W. “Hoddy” Hanna, III. “This partnership will allow us to continue our dominance as the largest privately owned real estate organization in the country. We are combining not only real estate brokerages, but also mortgage banking divisions, with combined annual volume of over $2 billion, as well as our insurance companies, making us the largest property and casualty real estate insurance agency on the East Coast.
“We look forward to working with the Tate Companies, adding new technologies and innovative programs, such as our 100% Money Back Guarantee, and our special mortgage finance programs, such as Physicians Plus and Buy Before You Sell. Together, we will continue to provide best-in- class service, local expertise, innovative technologies, and a client-first philosophy,” Hanna said.
These two strong, family-operated companies, both established in 1957—Allen Tate in Charlotte and Howard Hanna in Pittsburgh—have long-established ties to their regions.
“We always look to move forward, and we made a decision in the 1980s to remain independent,” said Howard Hanna CEO Helen Hanna Casey. “This collaboration will provide the best products and services in the real estate industry, along with shared marketing and promotion of properties. We see this as a benefit to both our clients and our agents.”
“Allen Tate and Howard Hanna share a common theme of commitment to their agents and clients. By uniting our strengths, talents and resources, the combined company and our real estate professionals have an automatic advantage in the marketplace that translates into greater opportunities and enhanced services for people buying and selling homes with us,” said Howard W. “Hoby” Hanna, IV, President of Howard Hanna.
Stay tuned for RISMedia for more developments.
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