Howard Hanna Acquires Allen Tate
September 21, 2018
Howard Hanna Real Estate Services has acquired one of the largest real estate companies in the Carolinas: Allen Tate. The two companies look to create a larger stake in the Mid-Atlantic and Midwest regions. Combined, the two brokerages will boast more than 11,000 real estate associates in 326 offices across nine states.
Howard Hanna’s market spans across eight states (Pennsylvania, Ohio, New York, North Carolina, Virginia, West Virginia, Maryland, and Michigan). The brokerage ranked third on the 2017 REAL Trends 500 list, with 90,468 transaction sides. On that same list, the Allen Tate Company, based in Charlotte, N.C., ranked 10th in transactions in 2017 and closed 22,273 transaction sides last year.
“Howard Hanna and Allen Tate have grown up together in the industry, and together, we will continue to do great things,” says Howard W. Hanna III, chairman of Hanna Holdings Inc. Both brokerages were first established in 1957. “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.”
Hanna says the companies will work together to add new technologies and innovative programs, such as a 100 percent money back guarantee and special mortgage finance programs.
Allen Tate will retain its brokerage name in the Carolinas where it operates. “The similarities of our two great companies are amazing and are the reason we have been successful individually,” says Pat Riley, president and CEO of the Allen Tate Companies. “Both companies are full-service, offering mortgage, title, relocation, and insurance products to buyers and sellers, in addition to brokerage services.”
Updated: June 27, 2019