"At Long & Foster, it's about more than buying and selling homes —
it's
about the total homeownership experience."
The Annual Report for The Long & Foster® Companies is featured below. You can
also
download the full color report as a
PDF. (Portable Document Format, 2mb)
Report Highlights
The Total Homeownership Experience
When you do business with Long & Foster, you not only get our commitment to integrity,
innovation, honesty and world-class customer service, but you’re also offered everything
you need as it relates to buying, selling or owning real estate—all from one source.
At Long & Foster, it’s about more than buying and selling homes—it’s about the total
homeownership experience.
By the Numbers
As the largest independently-owned residential real estate company in the United
States, Long & Foster is backed by financial security and stability like no other.
Sales figures for 2010 (
total sales volume and equivalents)
- All of The Long & Foster Companies: $47.2 billion
- Long & Foster Real Estate, Inc.: $24.0 billion
- Prosperity Mortgage Company: $5.1 billion
- Long & Foster Insurance Agency, Inc.: $5.5 billion
- Long & Foster Settlement Services: $11.5 billion
- Walker Jackson Mortgage Corporation: $1.6 billion
Home Search
With more than 11,000 sales associates serving seven states and the District of
Columbia, Long & Foster is the largest independently-held real estate company in
the United States. With an extensive branch network of over 170 offices, Long
& Foster helped more than 72,000 people buy and sell homes in 2010. At LongandFoster.com,
users conducted more than 80 million property searches in 2010, making it one of
the most popular real estate destinations on the web.
Financing
For more than 15 years, Prosperity Mortgage has partnered with Wells Fargo to bring
Long & Foster customers purchase financing and refinancing solutions. In 2010, Prosperity
assisted nearly 19,000 customers, which represents $5.1 billion in mortgage applications.
Prosperity’s customer satisfaction scores outpace the industry with more than 90
percent indicating they would refer family and friends to the company’s expert loan
officers. Also part of The Long & Foster Companies, Walker Jackson Mortgage Corporation
is a full-service mortgage lender focused on providing residential mortgage services
in 18 states throughout the Mid-Atlantic, Northeast and Southeast regions of the
United States. With an industry-leading level of customer service, Walker Jackson
wrote more than $1.6 billion in new mortgages in 2010. Walker Jackson partners with
some of the top brokers in the industry, and continues to expand its direct lending
retail capabilities through organic growth and acquisition activities.
Insurance
Representing many of the nation’s top rated insurance companies, Long & Foster Insurance
aims to help customers find the highest quality insurance protection at the best
possible price. With more than $5.5 billion in sales volume equivalents in 2010,
Long & Foster Insurance focuses on personal and commercial insurance solutions for
Long & Foster customers, employees and Realtors. As one of the largest real estate
insurance agencies in the region, customers benefit from the very best insurance
carriers and products that mirror Long & Foster’s core values of excellence in customer
service and product strength. In 2010, Long & Foster Insurance added new leadership
and doubled the size of its field sales team to bring even more service and value
to residential real estate customers.
Settlement Services
As the industry has changed in the last couple of years, Long & Foster Settlement
Services has remained nimble and forward-thinking, ensuring that its title and settlement
professionals are equipped to offer Long & Foster agents and their clients speed
and efficiency during a critical part of the home buying and selling process. In
addition to aligning its operations more closely with the needs and locations of
Long & Foster sales offices, Long & Foster Settlement Services also finished in
2010 the deployment of RamQuest, a soft ware rolled-out companywide to streamline
the settlement process. Long & Foster’s families of settlement companies assisted
more than 28,000 buyers and sellers get to the settlement table in 2010.
Short Sales
As the market continues to work through the inventory of distressed properties,
Long & Foster launched in 2010 the Platinum Group Services program to assist agents
and consumers navigating the complex and time-consuming short sale process. With
dedicated short sale experts at the ready to manage Long & Foster cases, Platinum
helped bring hundreds of cases to the closing table in 2010. By using Platinum to
handle negotiations with banks, ensure deadlines are met and manage other cumbersome
details of a short sale, Long & Foster sales associates are freed up to pursue additional
business opportunities, and buyers can rest easy knowing their case is being handled
as efficiently as possible with a better chance of reaching settlement.
Home Service Connections
At Long & Foster, we know that homeownership goes far beyond the sale. Through its
extensive network of high-quality vendors, Home Service Connections puts agents
and their clients in touch with everything from home inspection companies to home
improvement companies via HomeServiceConnections.com. With hundreds of licensed
and insured vendors, Home Service Connections makes the process of buying, selling
and owning a home less stressful. A highlight in 2010 was Home Service Connections’
premier partnership with Terminix, the nation’s largest pest control company, to
offer to all Long & Foster buyers a complimentary pest report that is necessary
for closing residential purchases. With long-standing relationships and value-added
offers, Home Service Connections covers the entire homeownership experience.
Property Management
As one of the largest single-family property management and rental service divisions
in the country, Long & Foster’s team managed nearly 4,000 homes for investors and
owners in 2010. Dedicated to offering a full suite of services to landlords, the
Property Management and Rental Services Division handles the details of marketing,
tenant screening, maintenance oversight, and accounting, helping owners maximize
their return on investment. Working in partnership with Long & Foster sales associates,
the division participated in more than 14,500 transactions in 2010. The property
management team also referred more than $26 million in listings back to our sales
agents to help property owners when they decided it was the right time for them
to sell their investment properties. With a portfolio of more than $1 billion in
homes currently under management, the division’s leadership looks forward to continued
growth and expansion of its services in 2011.
Commercial Real Estate
Having recruited a number of industry-leading agents in 2010, Long & Foster’s Commercial
Division posted one of its best years ever. The group handled a number of significant
lease transactions in the booming Tyson’s Corner area of Virginia with 35 full-time
agents dedicated to the commercial market. Vice President Ken Ulsaker was elected
to the board of The Commercial Network (TCN) Worldwide, an international independent
real estate consortium, and continues to be recognized for his leadership in industry
venues.
Relocation
The Long & Foster Corporate Real Estate Services Division, also known as Relocation,
actively participates in industry-leading networks and organizations to bring corporate
customers service and reach that extends worldwide. The Relocation team is focused
on making relocation and corporate transitions as hassle-free as possible, reducing
stress for transferees. Leading Real Estate Companies of the World®, a global network
of 600 premier real estate firms, recognized Long & Foster with its coveted Diamond
Award— honoring Long & Foster as the top-performing real estate firm in its extensive
membership based on a well-rounded set of criteria. Division head Pandra Richie
was also recognized by another global mobility organization, the Worldwide Employee
Relocation Council, being inducted into its Hall of Leaders in 2010. The Relocation
division continues to look beyond traditional real estate business to grow in market
segments such as Real Estate Owned (REO) foreclosures, military relocations, and
technology driven consumers who shop for real estate online and with their mobile
devices.
Experts Working for You
In today’s swiftly-moving marketplace, you deserve a true real estate expert to
assist you in your homeownership goals. Long & Foster’s sales associates are the
best-trained and best-equipped in the industry, bringing buyers and sellers service
and knowledge that is second to none.
Market Information
Buying and selling real estate is a local transaction, which is why Long & Foster
is dedicated to providing the most comprehensive market information that’s available
on a regional and local level. Empowered with current market data presented in an
easy-to-read format, buyers and sellers can see the market trends in their own back
yards with The Long & Foster Market Minute and Long & Foster Market Conditions reports.
At Long & Foster, we believe that better market information and the most knowledgeable
agents lead to better buying and selling decisions.
Tools & Technology
Having the best-equipped agents in the marketplace comes with a commitment to staying
on the cutting edge of tools and technology. In 2010, Long & Foster continued to
meet the needs of mobile consumers and agents by launching OPENLink, complimentary
Wi-Fi access at all of the company’s sales offices, and releasing an iPhone/iPad
app for consumers searching for real estate from their mobile devices. The company
also leveraged the power of video, not only for reaching consumers with important
real estate-related topics, but also for educating sales associates. With a single
goal to make agents’ lives easier and give them more time to spend with their clients,
Long & Foster upgraded systems and processes to ensure that transactions go as smoothly
as possible, and the company continues to offer an extensive in-house technology
support team to help agents stay on top of technological changes and challenges
that pop up. With a robust social media community, Long & Foster maintains an active
presence on Facebook, YouTube and Twitter to communicate with agents and their clients
online. Every Long & Foster agent has a customizable website, allowing them to bring
their clients the latest housing and property information available.
Unsurpassed Reach
Millions of consumers are exposed to Long & Foster advertising and marketing messages
each year in print, online and mobile sites. Those who list properties with Long
& Foster receive broad reach and exposure, helping to ensure their homes are positioned
in front of the right buyers. In addition to marketing partnerships with publications
like The Washington Post, The Wall Street Journal, The Baltimore Sun, The Philadelphia
Inquirer, Richmond Times and more, Long & Foster also leverages its exclusive affiliations
with organizations like The Leading Real Estate Companies of the World, Luxury Portfolio
and Christie’s International Real Estate, providing global exposure and reach for
our clients.e
In 2010, the Long & Foster brand was showcased in many new and innovative ways,
aligning the company’s marketing efforts with how consumers gather information today.
In addition to print advertising, Long & Foster enhanced its presence, to reach
millions of consumers via online campaigns, video, mobile sites, interactive online
chats with executives, and through extensive growth in social media.
Long & Foster is the #1 seller of luxury properties in the Mid-Atlantic, and 2010
was a year of unprecedented enhancements to the Extraordinary Properties brand and
the Long & Foster Extraordinary Properties magazine. These improvements included
a new distribution partnership with The Wall Street Journal, the launch of a new
electronic version of the magazine that can easily be viewed online and shared in
social media, and much more.
Education
To allow agents the most flexible and comprehensive educational program possible,
Long & Foster designed and launched in 2010 the all-new Star Builders training program.
With 17 stand-alone modules to appeal to agents of all production and experience
levels, Long & Foster offers the Star Builders program to keep agents consistently
and conveniently up-to-speed on a swiftly-evolving industry. Blending traditional
classroom education with online and video formats, the Long & Foster educational
platform includes more than 500 offerings. With an educational offering like no
other, more than half of all real estate agents in the Mid-Atlantic region turn
to Long & Foster University for their continuing education needs.
The Long & Foster® Companies, Inc.
14501 George Carter Way
Chantilly, Virginia 20151
800-237-8800