In a press release today, Howard Hanna and William E Wood have reached an agreement whereby Howard Hanna has purchased William E Wood. The Hanna family of companies now reaches from Michigan through Ohio, down through Pennsylvania extending into Virginia and the Carolinas. Following their successful acquisitions of the past with Smythe Cramer, Realty One, Edward Surovell Realtors and others. They do not have any plans to make changes at William E. Wood. The executive team will remain in place along with the brand. William E Wood is a great company and the Hanna’s intended to work hard to keep it that way. The first order of business will be to build a solid relationship with the consumers and agents that have trusted the William E. Wood company for decades.
With this acquisition, the combined performance of these companies in 2013 is more than $10 Billion in closed transaction volume with more than 53,000 homes sold. Howard Hanna will also increase their holdings in Mortgage though this transaction, and open new regions for their already successful insurance, home warranty, title and escrow businesses. Howard Hanna was ranked as the 4th largest real estate firm in America in the last Real Trends™ rankings.
*disclaimer – Howard Hanna is a WAV Group Client.
Press Release
PITTSBURGH, PA (January 8, 2014) – Today, at a press conference held in Virginia Beach, Virginia, Howard Hanna Real Estate Services announced the acquisition of William E. Wood and Associates, REALTORS® and its subsidiaries, Heritage Title and Towne Mortgage.
William E. Wood and Associates, REALTORS® is the #1 real estate company in Southeastern Virginia and Northeastern North Carolina with 17 offices. Locally owned and operated, William E. Wood & Associates, REALTORS® has founded nearly 42 years ago and has grown to include nearly 700 sales associates and employees. 15 offices are located in the Hampton Roads area of Virginia, which is ranked as the 9th largest metropolitan area in the Southeast United States and includes Norfolk, Virginia Beach, Chesapeake, Portsmouth, Suffolk, Williamsburg, Newport News, and Hampton. The other two offices are located in Elizabeth City and Currituck, North Carolina.
Howard Hanna Real Estate Services, the nation’s 4th largest real estate company, is entering the states of Virginia and North Carolina for the first time. Now with 167 offices and more than 5,700 sales associates and staff operating in the eight states of PA, OH, MI, MD, VA, NC, NY and WV, Howard Hanna continues to grow their well-respected brand in the Mid-Atlantic region.
“William E. Wood is a great established company, known for its quality and integrity. They are a market leader and align well with our growth strategy. They are a great fit with Howard Hanna,” said CEO Howard W. “Hoddy” Hanna, III. “There is a great future of success for everyone in the company. We are confident that together we will do great things.”
Dick Thurmond, President of William E. Wood and Associates, REALTORS® said, “We have known and admired the Howard Hanna family for many years. Their integrity, commitment to quality service and family ownership closely mirror the culture of our company.”
The combined performance of the companies in 2013 is more than $10 billion in closed sales volume, with more than 53,000 homes sold.
- The combined performance in 2013 of the title companies, Heritage Title and Barristers, is more than $2 billion.
- Howard Hanna Mortgage Services’ volume in 2013 was more than $1.2 billion.
- Howard Hanna Insurance Services closed more than 8,500 insurance units and more than 13,000 home warranties.
This is Howard Hanna’s fourth large acquisition since 2003, when they joined forces with Smythe Cramer, the then #1 company in Cleveland and Northern Ohio. In 2008, Howard Hanna acquired Realty One, the #2 company in Cleveland and Northern Ohio, and in 2012, Howard Hanna acquired with Edward Surovell Realtors, the #1 company in Ann Arbor and Southeastern Michigan.
Both companies were founded on humble beginnings by husband/wife teams. Howard Hanna Real Estate Services was established in 1957 by Howard and Anne Hanna with one office in Pittsburgh, PA. William E. Wood and Associates, REALTORS® was established in 1972 by Bill and Anne Wood & Bud with one office in Virginia Beach, VA.
“The combination of the Howard Hanna and William E. Wood organizations brings together two of the finest family run realty companies in the country. The leadership of both firms is dedicated to increasing opportunities for their sales professionals and management teams and has done so for three generations,” added Steve Murray, Editor and Founder of REAL Trends.
“The William E. Wood management team of Dick Thurmond, Gail Coleman and Ken Wecht are respected leaders in our industry, and we are pleased they will continue in their roles at the company. We will all benefit from having them as part of our Hanna team. They, along with the entire management team they have built, will help us to grow and expand in the region,” said Helen Hanna Casey, President of Howard Hanna Real Estate Services.
Howard Hanna’s innovative programs will bring added value to enhance performance and to benefit buyers and sellers. Available immediately is Howard Hanna’s 100% Money Back Guarantee, the exclusive program that stands behind the value of the homes the company sells.
Howard Hanna will also offer their Income Advantage program that enhances earnings with a steady monthly income that lets sales associates focus on what they do best – listing and selling homes, as well as Hanna Secure Advantage, which offers a variety of insurance products and financial/retirement plans.
Both companies have a long tradition of involvement in the community and giving back. Howard Hanna has donated more than $8 million to Children’s Free Care Funds at children’s hospitals and has donated thousands of warm coats through the Coats for Kids campaign. The William E. Wood and Associates Foundation is active in the community, providing assistance to students in need, aiding teens in crisis, and assisting homeless shelters and their residents.
In addition to residential sales offices, William E. Wood and Associates, REALTORS® operates New Homes, Commercial and Investment, Property Management and Relocation Divisions, as well as title and closing services through Heritage Title, and mortgage and financial services through Towne Mortgage.
Howard Hanna owns and operates Howard Hanna Mortgage Services, Barristers Title and Closing Company, Howard Hanna Insurance Services, Great Lakes Survey Company, Relocation Horizons, Howard Hanna Commercial, Hanna Chartwell Commercial Real Estate and Auction Services, and Bayard Crossings Land Development Company. The family owned and operated company has three generations and thirteen family members involved in day to day operations.
Both companies are members of Leading RE (Leading Real Estate Companies of the World) and The Realty Alliance, a network of North America’s elite real estate firms.
To learn more, please visit www.howardhanna.com or www.williamewood.com
Media contacts:
Deborah Donahue, 412-967-9000 x328, ddonahue@howardhanna.com
Rick Schoew, 757-499-9663, rick@williamewood.com
Sources:
REAL Trends Magazine, REAL Trends 500, May 2013
RISMedia Power Broker Survey, April 2013
U.S. Census Ranking, 2012
REAL Trends, Inc. is a communications and consulting company considered to be the leading source of analysis and information on the residential brokerage and housing industry
HOWARD HANNA REAL ESTATE SERVICES
Corporate Office
119 Gamma Drive
Pittsburgh, PA 15238
412-967-9000
