Howard Hanna Real Estate Services, the largest real estate broker in Pennsylvania and Ohio, is merging with RealtyUSA, the largest real estate broker in New York, to form what the companies are calling the “3rd largest real estate company in the United States.”
According to information provided by the companies, RealtyUSA is the “#1 broker” in the state of New York and has 65 office locations throughout the state. RealtyUSA is also the parent company of 1st Priority Mortgage.
The company currently has more than 2,200 sales associates and employees and is ranked the 9th largest real estate company in the country with 23,023 closed transactions last year, per the latest REAL Trends 500 report, which ranks the 500 largest real estate brokers in the country by 2015 closed transactions.
Per those same rankings, Howard Hanna Real Estate Services is the “#1 broker” is Pennsylvania and Ohio and has 205 office locations in Pennsylvania, Ohio, New York, Virginia, Michigan, West Virginia, North Carolina and Maryland.
According to the companies, the latest REAL Trends 500 report showed that Howard Hanna has more than 7,100 agents and employees and ranked as the 4th largest real estate company in the country with 66,714 closed transactions last year.
The companies say that merger will position Howard Hanna as the 3rd largest real estate company in the United States.
The companies say that the combined performance of the joint company is $16.2 billion in closed sales volume in 2015 on 89,737 closed transactions.
The combined company will have 9,000 sales associates and employees in 270 offices.
As part of the merger, Merle Whitehead, president and CEO of RealtyUSA, will become chairman of the combined company in New York.
“RealtyUSA is truly one of America’s great real estate companies, led by Merle Whitehead, who is recognized as a national leader in real estate,” said Howard Hanna, IV, president of Howard Hanna Real Estate Brokerage. “Our business philosophy is very similar, and operationally they know what it takes to create the American dream of home ownership for New Yorkers.”
In a release, the companies say they “have known and worked with each other for decades through relationships in the real estate business” and began discussions about a possible merger about six months ago.
“I have known and respected the Hanna family for years,” Whitehead said. “Their growth in the last decade has been amazing. A common theme of commitment to our agents by developing the best in products and services for customers and clients will assure our combined success.”
As the combined company moves forward, it plans to expand in Buffalo and enter into the metropolitan areas of Syracuse and Albany.
Hanna also said that company plans to expand its insurance company, adding approximately 15-20 new positions, as well as increasing marketing and technology systems with another 20 positions throughout the company.
According to the companies, RealtyUSA’s logo will now feature the tagline “A Howard Hanna Company.” Additionally, the companies said there will not be a change to the company name or to local leadership.
“RealtyUSA and Howard Hanna agents will benefit from each other’s markets for referrals in areas they do not serve,” said Helen Hanna Casey, president and CEO of Howard Hanna Real Estate Services.
“We always look to move forward,” Casey said. “And when you find a prominent company that is run with the utmost integrity and is so like-minded with complementary management styles and great managers, it makes sense to come together. When we expand our reach, everybody within the Howard Hanna family of companies benefits.”