Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
Rand Realty Forms Partnership with Howard Hanna Realty
NANUET—One of the largest residential brokerage firms in the Hudson Valley region has formed a new partnership with Howard Hanna Real Estate Services that significantly expands Howard Hanna Real Estate’s presence in Downstate New York State.
The deal was announced today by Marsha Rand, founder and President of Rand Realty, and Helen Hanna Casey, CEO of Howard Hanna Real Estate Services, during a joint virtual meeting with their employees.
Joseph Rand, chief creative officer of the newly formed Howard Hanna | Rand Realty, tells Real Estate In-Depth that the partnership involved Howard Hanna Real Estate Services making an investment in Rand Realty. He stressed, however, that the Rand family maintains ownership in the company and will continue to operate the residential brokerage firm that has more than 1,000 residential real estate sales associates and operates 28 offices. The brokerage firm serves Bergen County, Passaic County, Hudson County, Morris County, and Essex County in New Jersey; as well as Rockland County, Orange County, Westchester County, Bronx, Sullivan County, Ulster County and Putnam County in New York. No further financial details on the partnership were released.
Rand Realty had been affiliated with Better Homes and Gardens. Howard Hanna Real Estate Services is headquartered in Pittsburgh. The full-service real estate company has 325 real estate, mortgage, insurance, title and escrow service offices across 10 states, including Allen Tate Realtors in the Carolinas, with more than 11,000 sales associates and staff.
“When I opened Rand Realty in 1984, my vision was to build a brokerage devoted to agents and homeowners alike,” said Rand. “Howard Hanna is a company that shares that mission. Because of that, and because of our shared experiences as family-owned businesses and industry innovators, I am very excited about the future of Rand Realty, now Howard Hanna | Rand Realty. By combining our expertise, we can create an even more exceptional real estate experience.”
Casey added, “This union brings together leading real estate industry professionals from two of the most respected and trusted family-owned companies in the business and blends them into one unified industry leader.”
Howard Hanna became the largest New York State brokerage after merging with Nothnagle Realtors and RealtyUSA in 2017.
“Howard Hanna is very excited to partner with Rand Realty and for our teams to work together to continue to do great things in New York,” said Howard W. “Hoby” Hanna, IV, president of Howard Hanna Real Estate Services. “At Howard Hanna, we’ve been on a focused growth strategy since the early 2000s. Our plan has always been to partner with like-minded brokerage firms where we believe two cultures and philosophies can mesh and blend together.”
He added, “As ambitious as we have been in New York State, we knew we would only enter the downstate market if we could create a partnership with the Rand company family and agents, who we have trusted and admired. This partnership will allow us to continue to expand and grow in the New York housing market, and we are very excited to welcome the Rand team and offices into the Howard Hanna family.”
The companies reported that Rand Realty finished 2019 with a closed sales volume of more than $2 billion and more than 6,000 homes sold in total, according to a research report produced by REAL Trends in March 2020. In New York State, Howard Hanna finished 2019 with a closed sales volume of more than $5 billion and over 29,000 homes sold in total. Howard Hanna’s total sales volume across its multiple regions totaled more than $22 billion, as well as a total of more than 100,000 houses sold, according to a research report produced by REAL Trends in March 2020.