Growth Report 2017: Northwood Realty Plans Ohio Corporate Office
Editor’s Note: The following story is from Growth Report 2017, published by The Business Journal.
By Tom Hosack, President & CEO
PITTSBURGH — Northwood Realty Services started 2016 on steady footing, saw gains throughout the year and looks toward expansion in 2017.
An improving economy and steady job growth has given more households the financial incentive to buy. Northwood experienced a significant increase over the year as buyers came back to the housing market in force. The demand for homes, combined with concern over higher interest rates, brought a vibrancy back to the housing market that it has not seen in the region for a number of years.
Northwood increased its commercial real estate presence in 2016 with the acquisition in September of Sebastian Real Estate in Hermitage, Pa. We look for expanded opportunities for our agents and clients by combining a strong regional residential real estate brokerage with the personnel and expertise of a leading commercial real estate brokerage.
Like the growth in the housing market, Northwood looks to expand its operations in Greater Cleveland in 2017 with the opening of an Ohio corporate office in downtown Cleveland. Beginning with dominant market share in northwestern Pennsylvania to the expansion into Eastern Ohio, Northwood has grown to 13 offices across 11 counties.
We are continuously finding ways to integrate innovations and technology with state-of-the art education to benefit our real estate agents and clients. From cloud-based client software to a real-time mobile app, agents and clients can stay in touch and foster relationships anytime, anywhere. Back-end data management and software applications allow Northwood agents to take advantage of more real-time, pertinent information than ever before, which translates into better service and insights for our customers.
Northwood Realty Services has been named the official realtor of the Pittsburgh Penguins. We are thrilled to kick off this partnership. The Pittsburgh Penguins and youth hockey are vibrant elements of the culture in western Pennsylvania and eastern Ohio neighborhoods where 1,000-plus of our agents live and work. We have always been proud supporters of the team, and now it is official.
Looking forward to 2017, Northwood Realty Services is optimistic for the future. There are new challenges in the industry with new mortgage disclosure rules, stringent credit standards and lack of viable inventory. But there is hope for continued economic resurgence, new commercial developments and steady job growth.
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