BrokerageIPO / M&A

Allen Tate acquires Asheville, N.C.-based independent Beverly-Hanks

The acquisition marks Allen Tate’s entry into the Asheville/Mountain region

RealTrends 500 company Allen Tate Realtors, in partnership with Howard Hanna Real Estate Services, has acquired Asheville, N.C.-based independent brokerage Beverly-Hanks Realtors.

The acquisition marks Allen Tate’s entry into the Asheville/Mountain region. Beverly-Hanks Realtors ranked No. 200 by sides and No. 205 by sales volume in the 2022 RealTrends 500 brokerage rankings. Hanna Holdings, of which Allen Tate Realtors is a part, is the third-largest independent brokerage in the rankings.

Allen Tate, a 65-year-old company, will now operate a total of 70 local real estate offices spanning the Charlotte, Triad, Research Triangle, High Country, Highlands/Cashiers and Asheville/Mountain regions of North Carolina and the Upstate of South Carolina.

Beverly-Hanks was founded in 1976 with the merger of Beverly Realty and W. Neal Hanks & Associates. The acquisition brings to Allen Tate more than 460 real estate agents and 18 residential real estate offices serving clients in Western North Carolina, as well as a commercial division, NAI Beverly-Hanks.

“For more than three decades, I’ve had the privilege to collaborate with leaders from Allen Tate and have immense respect for the independent real estate organization that they have built,” said Neal Hanks, president of Beverly-Hanks Realtors, in a statement.

“Real estate decisions are a significant milestone in life. In an age where transactions have lost the human touch and local connectivity, Beverly-Hanks has always taken a more personal approach in support of our clients’ dreams and investments. Part of that is doing business as an independent brokerage with an authentic connection to the mountain home we hold dear,” Hanks added.

Beverly-Hanks will now use the combined name, Allen Tate/Beverly-Hanks Realtors. Clients will continue to have access to in-house mortgage services and will now have access to in-house insurance services via Allen Tate Insurance.

Neal Hanks, president of Beverly-Hanks since 1999, will continue in his role as president of Allen Tate/Beverly-Hanks Realtors. Amy Hanks will continue as president of Allen Tate/Beverly-Hanks Mortgage Services, and the Beverly-Hanks leadership team will remain in place.

“We are proud to welcome Beverly-Hanks Realtors to the Howard Hanna Family of Companies,” said Howard W. “Hoby” Hanna IV, president, Howard Hanna Real Estate Services.

In September 2018, Allen Tate Realtors entered into a partnership with Pittsburgh-based Howard Hanna Real Estate Services, creating the No. 1 privately owned real estate firm in the nation, with more than 14,000 agents and employees in nearly 500 offices across 13 states.

All three firms are members of Leading Real Estate Companies of the World, a global network of top independent real estate firms, with 550 companies and 136,000 sales associates in over 70 countries.(Visited 753 times,

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