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Howard Hanna Real Estate plans six
new offices in Metro Detroit.

Jackie Headapohl | Managing Editor

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2078180

Jessica Schwartz

R E A LT O R ®

 A New Generation of Superior Service 

248.321.7574

JSchwartz@HallandHunter.com

A

fter its merger in July
come,” he said.
with RealtyUSA, the larg-
Howard Hanna Mortgage is working
est real estate broker in
to make homeownership affordable
New York State, Howard Hanna Real
for first-time buyers. It has created a
Estate Services, the No. 1 broker in
mortgage program that requires only
Pennsylvania and Ohio, became the
a 3.5 percent down payment and rolls
fourth largest real estate company in
closing costs into the loan. “We also
the country.
offer a 100 percent money-back
Howard Hanna has
guarantee,” Hanna said. “If
205 office locations in
they’re unhappy about the pur-
the Pennsylvania, Ohio,
chase during the first year, we’ll
New York, Virginia, West
buy it back from them.”
Virginia, North Carolina,
Howard Hanna Real Estate
Maryland and Michigan,
first entered the Michigan mar-
where it has 12 offices. But
ket in 2012 with offices in Ann
if Howard “Hoddy” Hanna,
Arbor and Birmingham. Hanna
Howard
chairman and CEO of the
“Hoddy” Hanna said the double-whammy reces-
company, has anything to do
sion that Michigan experienced
with it, that number is about
in 2008 kept them away at first.
to climb by six.
“As tough as it was nationally, Metro
“We have lots of growing to do in
Detroit was hit that much harder with
Michigan,” Hanna said on a visit last
the downturn in the auto industry.
week with the Jewish News. “We’d
Foreclosures were really high,” he
like to open at least six new offices in
said. “Now the Metro Detroit market
Oakland County and parts of Wayne
is enjoying a comeback. For the last
County by the end of 2017, perhaps
three years, home prices have risen
in Southfield, Troy and Plymouth to
5 percent to 6 percent, a little higher
name a few communities.”
in Oakland County. That’s a healthy
Each new office will require about
rebound.”
30 sales associates, staff people and
Hanna is excited to bring more of
managers, which means a lot of new
the company’s “customer-centric”
jobs coming into the Mitten State.
offices into the state. “We believe our
“We’ve done a great job recruiting
agents do best if they are focused on
millennials as Realtors in the past five
a 5-mile radius around the office or
years,” said Hanna, a Pittsburgh native where they live,” Hanna said. “We want
who got his real estate license as a
our agents to be able to walk potential
senior in high school. “We’re focused
buyers into the local grade school to
on selling to millennials as well for our meet the principal. That’s the kind of
long-term growth.”
service we provide.”
Millennials, which overtook baby
Howard Hanna Real Estate is also
boomers as America’s largest genera-
a good member of the communities
tion, were involved in one-third of
which it serves, raising more than $1
all real estate transactions last year,
million last year for a number of chil-
according to Home Junction, a data
dren’s hospitals.
applications company. However, a
The company also strives to be inno-
report from Zillow last year showed
vative, Hanna said, citing its recent
that millennials are taking an average
achievement of making its estimated
of six years to transition from renting
10 million web pages available in 100
to owning. According to Zillow Chief
different languages “to bring listings,
Economist Svenja Gudell, young peo-
services and programs to a wider,
ple are “struggling to save for a down
more diverse audience.” The website
payment and qualify for a mortgage,”
has had visits from more than 200
especially while paying off student
countries in 2016 with an average of
loans with high interest rates.
1.4 million visitors per month.
Hanna says the housing crisis that
“Our overarching goal at Howard
hit in 2008 — “actually the worldwide
Hanna is to provide value for buy-
housing recession” — also plays a role
ers and sellers,” Hanna says. “We’re
in millennials’ reluctance to buy. “Most excited to be bringing more offices to
of them know at least one person who
Michigan.”
lost their home in the downturn, and
For more information, visit HowardHanna.com.
that’s a negative social stigma to over-

*

442 S. Old Woodward Avenue
Birmingham, Michigan

2118530

30 August 18 • 2016

Michigan Growth