REAL ESTATE Howard Hanna looks to expand again

The ninth-largest real estate company looks to grow.
By DON SHILLING
VINDICATOR BUSINESS EDITOR
Howard Hanna Real Estate Services is eyeing other places in Ohio now that it has moved into the Cleveland and Akron areas.
The Pittsburgh-based company announced recently that it has merged with Smythe, Cramer Co. to become the ninth-largest real estate company in the country.
The addition of Smythe, Cramer's 35 offices in northeast Ohio gives Howard Hanna 105 offices in four states.
Once the two companies get comfortable with the merger, Howard Hanna will look at opportunities to move into areas such as Columbus, Cincinnati, Toledo and Dayton, said Howard Hanna, known as Hoby, company executive vice president.
The company will continue to grow as it has in the Mahoning Valley, with acquisitions and openings of new offices, he said.
Howard Hanna entered Ohio in 1996 by acquiring Del Realty, which had offices in Poland, Howland and Columbiana. Howard Hanna has since acquired other local agencies and opened new offices. Hoby Hanna said a Liberty office that was opened last year has been doing well and now has 15 to 20 sales agents.
The company also will try to fill in the area between the Smythe, Cramer offices and the Howard Hanna offices in the Mahoning Valley, he said. It is looking to add offices in Geauga, Portage and Ashtabula counties.
Getting the word out
Company officials have spoken with other real estate brokers to let them know Howard Hanna is looking to expand. Some brokers are looking to retire and sell their businesses, while others want to partner with a larger organization, he said.
Besides offices in Ohio and Pennsylvania, Howard Hanna expanded into New York four months ago with an office in Chautauqua, which is just east of Erie, Pa. Hoby Hanna said western New York is a natural expansion area.
It also has two offices in the Harrisburg area and will look to expand there and other central Pennsylvania areas such as State College, he said.
He said it's hard to say how big the company will get, but for now company officials are focusing on Midwestern areas that are similar to cities that it now covers.
He said the deal involving Smythe, Cramer allows owners of the Cleveland area company to remain shareholders, with Howard Hanna becoming a partner.
L.B. McKelvey, the brother of Youngstown Mayor George McKelvey, will remain chairman of Smythe, Cramer, and other senior executives will remain in place.
Moving to Cleveland area
Hoby Hanna, who also oversees the Mahoning Valley operations, will be moving to the Cleveland area to join that management team, as will one other senior Howard Hanna executive.
He said the Smythe, Cramer offices will keep that name for at least two years, though the Howard Hanna name could be attached in some way. Howard Hanna officials want to continue to use the name recognition that Smythe, Cramer has built up in its 100 years of business, he said.
He said combining the two companies will help reduce costs for such services as mortgages and title work. Both companies have subsidiaries that handle such work.
The two companies are a good fit because of their similar corporate philosophies and focus on quality service, he said.
shilling@vindy.com