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Long & Foster Names New President

By
Services for Real Estate Pros with Creative Read, Inc.

David H. StevensToday it was announced that David H. Stevens, the President of Affiliated Businesses for The Long & Foster Companies would be stepping into the role of President and Chief Operating Officer.  The announcement was made this morning by Founder and CEO Wes Foster in a company wide managers meeting at Long & Foster's new corporate headquarters in Chantilly, VA.

The move was a surprise to some of the company's managers, and will likely be received with equal surprise by some of the other leading brokerage firms around the country.  Long & Foster Real Estate, Inc. is the largest privately held real estate company in the country, founded in 1968 by P. Wesley Foster, Jr. and his partner at that time, Henry A. Long.  The company has offices throughout the greater Mid-Atlantic region of the United States from New Jersey to North Carolina and has upwards of 15,000 real estate agents.

David H. Stevens is only the third person to hold the title of President in the company's 40 year history.  The fact that his background is not general brokerage but mortgage and finance may cause some to wonder if this signals a greater shift in the real estate industry as a whole.  Since arriving at the company in July of 2006, Stevens has demonstrated his grasp of the real estate industry on numerous occasions.  And he has been active in working directly with Long & Foster managers and agents out in the field on initiatives to generate more real estate business  - even while overseeing the management of the company's affiliated business units: Prosperity Mortgage Company, Long & Foster Insurance Agency, Inc., Long & Foster Settlement Services and the Home Service Connections program.LNF Companies

A shift to more fully integrate ancillary business units, which can create substantial revenue, into the core business model of real estate is not unique to Long & Foster.  Many other brokerages have adopted this model as well.  As the industry contracts and consolidates during this down cycle, these ancillary business units take on a greater importance to the health of real estate companies both large and small.

In a recent Inman News article, columnist and Realtor® Kris Berg lamented on the future of existing brokerage models in her column "Big brokerage model is 'on the roof'" giving voice to what many agents are feeling about the value of large brokerage firms to their business.  The appointment of David H. Stevens to this critically important post at Long & Foster might very well indicate that at least one big brokerage firm is willing to step outside the box to look for new ways of doing business that benefit both the agents and the company.  It will be interesting to see how it is received by those inside the company who are being asked to open their minds to change.

Nancy Pav
Century 21 Redwood Realty - Ashburn, VA
Nancy Pav, Your "GottaHave" Realtor

I think it will be interesting and exciting to see what direction Dave takes this company.  I'm looking forward to seeing what the future holds.

Oct 23, 2008 11:44 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Nancy, I'm sure Dave hopes your sentiments are echoed about 15,000 times over!  It's easier to make changes when people are working with you!

Oct 23, 2008 12:03 PM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

I was very excited to receive Wes' email yesterday (twice! LOL) as I have total confidence Dave will take this company in exactly the right direction.  I have admired his attitude from the beginning and look forward to great things from him. 

Oct 24, 2008 01:03 AM
Justin Williams
Independent - Virginia Beach, VA
Loan Officer

I have high respect for David Stevens, every time he talks about the industry and the market it shows that he is very knowledgeable in his field.  I am very excited for his promotion, great showcase Catherine!

Oct 24, 2008 01:53 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Susan - I'm sure Dave is glad to know he has the support of agents in the field like yourself!

Justin - Very encouraging words as Dave makes the transition to a leadership position overseeing the entire family of L&F businesses!

Oct 24, 2008 02:07 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Val - Those words carry a lot of weight coming from one of Long & Foster's top managers in Northern Virginia!  I'm sure Dave is glad to have the support of managers like yourself who are ready to embrace some change. 

Oct 24, 2008 02:53 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Catherine:  I was glad Wes' email yesterday was about this.  There have been rumors circulated lately, probably for the benefit of recruiting, that L&F is for sale.  Either that, or the big change was simply this.  I will look forward to hearing some fresh perspectives from Dave. 

Oct 24, 2008 10:10 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Chris Ann - Thanks so much for bringing that out in the open.  I think rumors of a potential sale of the company have been out there for weeks and nothing could be further from the truth.  L&F is positioning itself for the future, which I think this choice of leader clearly signals.

Oct 24, 2008 10:31 AM
Jean Groesbeck
Compass - Anacortes, WA
Broker, CRS, e-PRO, ABR, ASP, CNE, IMS

Very informative.  Thank you for the post!

Oct 24, 2008 06:06 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Thanks for posting this, Catherine.  I had to chuckle about comment regarding rumors that L&F is for sale, because we heard those same rumors when I was with the company in the 70's and 80's.  I suspect that ALL real estate companies today are rumored to be either for sale or folding.  Glad to be back at L&F, where I learned the business during the first 10 years of my career.

Oct 24, 2008 11:56 PM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Catherine,  New leadership is great in a challenging time for our industry.  I'm sure all LNF agents will welcome Dave as the new President, and look forward to innovative thinking and changes ahead.

Oct 25, 2008 01:04 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Jean - Thanks for stopping by.  There is  long history between Windermere and Long & Foster going back many years.  There is a very strong core group of privately held independent real estate firms that are still going strong in this country - and will continue to . . .

Margaret - I enjoy reading your posts and I pass them along.  Blogging has turned out to be a great thing for you and it only goes to show that "veteran" agents can learn new ways of doing business.  I'm sure L&F is glad to have you back.  I've come and gone a few times myself since the '80's.

Richard - The support of people throughout the company will be critical to Dave's ability to lead in an era of major changes - in the real estate industry, in our country, and in the global economy.  He's only asking that folks keep an open mind.

Oct 25, 2008 01:21 AM
David H. Stevens
HUD - Fairfax, VA

I just stumbled onto this post. Thank you all for your feedback and support.We have so much opportunity here. I love this business as do all of you and wiith everyone working together we will keep Long & Foster strong for years to come.

The market wil recover. While we still have turmoil left, we are far closer to bottom of this correction and I still believe that 2009 will turn out to be better than expected.

Please send me any ideas or suggestions to my private e-mail at "dave - at - davidhsteven.com"

Have a great day

Oct 25, 2008 03:24 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

I'm glad to see brand new company presidents work Saturdays . . .

Oct 25, 2008 03:47 AM
Audrey June-Forshey
RE/MAX Realty Services - Darnestown, MD
GRI, Gaithersburg, MD

Catherine, I have never worked for Long and Foster but many of my friends have and I have always had a long respect for them.  Whenever I have had people ask me about becoming a new agent I think Long and Foster has one of the best training programs for their new agents.  I am sure David Stevens will do great. 

Oct 25, 2008 09:27 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Audrey,  one of the things that has always impressed me about ActiveRain is the generosity, professionalism and respectfulness of the people in this community.  You are very gracious to offer your support for a new leader at Long & Foster, and to commend the company on something it has always prided itself on - the level of training provided to every single Long & Foster agent.  Thanks so much for that!

Oct 25, 2008 09:43 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Audrey, I think your outlook is a great one!  In every crisis there are also opportunities.  Some people choose to focus on the negative when they should be looking for how they can build for the future.  I agree that Long & Foster's future is a bright one, and it's terrific that you have chosen to be a part of it!

Oct 27, 2008 05:30 AM
Glenda and Steven McDaniel
Long and Foster Smith Mountain Lake Office - Smith Mountain Lake, VA

As we find our way through this "PERFECT STORM" Crisis which now includes Stock Market, Real Estate, Politics and the Financial Industry, I find it is comforting to have a Great Captain at the Wheel.  Welcome Dave Stevens, who will  be our New Captain.    

Oct 30, 2008 12:24 AM
Catherine S. Read
Creative Read, Inc. - Fairfax, VA

Glenda & Steven, I like your metaphor!  Long & Foster is a very big ship with thousands of people on board who rely on the company to help them make a living.  It's an awesome responsibility to know that thousand of families will be affected by the direction and the course the company takes through these challenging times.  I'm glad to know you feel the selection of this Captain was a sound one.  Thanks for sharing that.

Oct 30, 2008 12:57 AM
Aklile Mariam
Long and Foster Real Estate - CAPITOL HILL - Washington, DC
e-PRO Realtor (Lic. DC, MD & VA)

Mr. Stevens is genius, I already seen the excitement and change he brings to L & F and especially to the Capitol Hill office. Of course, in addition to our new manager Mr. Bruce.

Catherine, before our training this coming Thursday. I am determined to double my Activerain points. Please, go to my post and comment a tip or two.  

Mar 14, 2009 06:11 PM