July 26, 2014 5:47 AM ET

Real Estate Management and Development

Company Overview of Long & Foster Real Estate, Inc.

Company Overview

Long & Foster Real Estate, Inc. operates as a real estate agent. It manages a portfolio of real estate, homes, townhouses, and condominium units, and engages in buying and selling, renting, and financing. The company serves customer in Maryland, Virginia, West Virginia, New Jersey, Pennsylvania, Delaware, and North Carolina; and Washington, District of Columbia. The company was founded in 1968 and is based in Chantilly, Virginia. It has additional offices in Lutherville, Baltimore, and College Park, Maryland; and VA Beach and Richmond, Virginia. It also has operations in Pennsylvania, New Jersey, West Virginia, Delaware, and North Carolina; and Washington, District of Columbia.

14501 George Carter Way

Chantilly, VA 20151

United States

Founded in 1968

Phone:

703-653-8500

Fax:

703-591-6978

Key Executives for Long & Foster Real Estate, Inc.

President and Chief Operating Officer
Age: 52
President and President of General Brokerage
Chief Financial Officer and Senior Vice President
Chief Executive Officer of Prosperity Home Mortgage and President of Long & Foster® Companies Affiliated Businesses
Compensation as of Fiscal Year 2014.

Long & Foster Real Estate, Inc. Key Developments

Wells Fargo to End Mortgage Joint Ventures with HomeServices Lending and Long & Foster

Wells Fargo (WFC) announced that it will terminate eight mortgage joint ventures including a partnership with HomeServices Lending. Wells said its decision to end the affiliated business arrangements was based on recent regulatory actions, including changes in state and federal oversight that have increased the complexity and difficulty of operating mortgage joint ventures. The eight joint ventures fund and close loans and typically have their own sales and processing teams. Wells provides product and support and typically buys the majority of home loans from the ventures. The eight ventures are Bankers Funding; Colorado Mortgage Alliance, DE Capital Mortgage; Home Services Lending; Military Family Home Loans; Prosperity Mortgage, a joint venture with Long & Foster; Premia Mortgage and Private Mortgage Advisors. Roughly 300 employees will be affected as the eight joint ventures are wound down over the next 12 to 18 months.

Long & Foster Real Estate, Inc. to Opens Baltimore Metro Office on May 16, 2013

The Creig Northrop Team of Long & Foster Real Estate, Inc. has expanded their business area with the addition of a new Baltimore Metro office at The Galleria in Lutherville-Timonium. The new office is situated at the intersection of York Road and Seminary Avenue. This will be the Team's fifth office location and will serve Baltimore County, Baltimore City, Cecil County and Harford County. The new office will be open on May 16, 2013 to tour the office and meet Creig Northrop.

Market Leader, Inc. Expands Relationship with Long & Foster Real Estate

Market Leader, Inc. announced that Long & Foster Real Estate, Inc. has made its My CMS marketing platform, a private-labeled version of the SharperAgent by Market Leader marketing system, available for free to all Long & Foster agents through May 31 and all managers through December 31. This program gives more than 10,000 agents and 160 managers across seven states complete access to the nation's most comprehensive marketing platform, including custom and customizable templates for email, Web and direct mail marketing. Created to help Long & Foster sales associates build strong, positive connections with consumers, the My CMS system is already successfully used by hundreds of agents, and includes more than 2,000 professionally designed, customizable and demographically targeted marketing pieces. Sales associates can select the most relevant pieces to engage both their existing contacts and new prospects. In addition, all Long & Foster managers will be able to leverage powerful recruiting campaigns to quickly and easily communicate with prospective new Long & Foster agents. After the free introductory period, My CMS can be purchased at a preferred discount.

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