Allen Tate Companies Celebrates Banner Year
Real estate leader closed $5.75 billion in sales volume in 2019
Allen Tate Realtors® ended 2019 with $5.75 billion in closed sales volume, repeating its 2018 results – the best year in the company’s history. The Carolinas’ leading real estate company reported 20,071 closed transaction sides in 2019.
“The market continues to be challenged by lack of inventory, which results in greater appreciation of home prices,” said Allen Tate Companies President and CEO Pat Riley.
“It’s a great time to sell a home that’s been updated and in good condition. And while it may take a bit more time to find the right home to purchase, buyers will continue to be blessed with low interest rates.”
The Allen Tate Family of Companies also reported strong results for 2019:
- Allen Tate Mortgage closed 1,324 loans totaling $297 million.
- Allen Tate Insurance provided insurance coverage to 17,637 customers, with nearly 35,000 policies in force.
- Allen Tate Relocation generated 6,838 referrals through its Relocation connections around the world.
- Master Title Agency wrote 6,400 title commitments, totaling more than $2 billion in property value.
More than 700 Allen Tate Realtors achieved top performance levels during 2019, based on closed sales volume of $2 million to more than $100 million. Allen Tate will celebrate these achievements at regional awards events beginning later this month.
Realtors are recognized each year by Allen Tate for their achievements in categories including company-wide closed sales volume, closed units, listing volume, listing units, and referrals, and for legendary service provided. Realtors are also recognized for their achievements within their region and at the branch level, including top individual agent, top team and rookie of the year.
In 2019, Allen Tate expanded its footprint into the High Country region, adding a new office in Blowing Rock/Boone (NC) with the acquisition of Blowing Rock Investment Properties. The company also expanded in the Triad (NC) region, adding a new office, Winston-Salem Vest Mill Road, with the acquisition of Realty One.
Allen Tate also opened new offices in Pittsboro (NC) and Summerfield (NC); relocated offices in Gastonia (NC) and Greenville/Simpsonville (SC); expanded the Charlotte-Ballantyne (NC) office to two locations; and renovated the Raleigh-Glenwood (NC) and Lake Norman (NC) offices.
In 2018, the company formed a joint venture with Howard Hanna Real Estate, the third-largest real estate company in the United States and the largest home seller in Pennsylvania, Ohio and New York. This partnership created the #1 privately owned real estate company in the nation, with more than 11,000 agents and employees in more than 300 offices in 10 states, including 47 Allen Tate offices across its five-region footprint in North and South Carolina.
“We closed more than 20,000 transaction sides last year and helped thousands of families achieve their goals of buying or selling a home. It’s a privilege to work in a profession where we can make such an impact, and we thank you for your trust and loyalty,” said Riley.
“Even with great new technology, buying or selling a home will always be a highly personal experience. Allen Tate Realtors will continue to provide exceptional, professional and personal service to each and every customer as they continue on their homeownership journey.”