Long & Foster affiliate moving team of real estate agents to Willow Lawn
Given the growing competition in the Richmond property sales scene, one of the area’s larger residential real estate agents is solidifying its local presence with a new outpost in the Willow Lawn area.
Long & Foster Real Estate gets new business with the opening of a brick and mortar office for the Cabell Childress Group, a team of agents currently based in the broker’s Innsbrook / Glen Allen office.
The office, slated to open in mid-June, is located at 4904 W. Clay St., a 3800 square foot building adjacent to the West End Antiques Mall and Verve Home Furnishings, a few blocks from Willow Lawn.
Group leader Cabell Childress bought the building in March through a company called Spider Properties Trust, which paid $ 580,000 for the 4-acre property. The sellers were Craig and Linda Peyton, who bought it for $ 235,000 in 1995.
The county last valued the property at $ 375,900.
Childress, a Henrico native who has been selling homes on-site for 20 years, said he bought the building as a real estate investment as well as a home for his group he founded in the late 2000s.
“This was an opportunity for me to own the building and it only made sense from an investment perspective,” said Childress. “During COVID it was obviously very unique that a lot of people didn’t even use the bricks and mortar. Our team is like a small family, so we like the idea of having our own room. “
The office carries signs for Long & Foster and Cabell Childress Group. It is administered by David Gragnani, a Long & Foster broker of the Innsbrook / Glen Allen office.
The Willow Lawn Spot brings Long & Foster’s office count on Metro Richmond to 17. The nearest outposts are in the Libbie-Grove area.
“It’s an emerging marketplace for us,” said Brian Haug, senior vice president who oversees Long & Foster’s operations in the area.
“Growing his team is the next step for him,” said Haug of Childress, noting that his team had exceeded $ 100 million in annual sales last year. “It’s a way for agents to have their own individual space, but still be under our roof.”
Childress said his team consisted of eight agents as it closed 2020 with 250 closings for total revenue of $ 101 million. The team now has 10 agents and three support staff. Revenue so far this year has been $ 65 million.
“We’re having the best year we’ve ever had,” said Childress.
The group’s new home includes a 1,100 square meter warehouse / flex building that Childress says it will transform into a lounge and social area for agents and customers. The building will also house an office for Long & Foster subsidiary Prosperity Home Mortgage, and Childress said other agents with the broker will be able to work from the room.
He said the building gives his team room to grow and is attractive for its location near Willow Lawn and Libbie Mill-Midtown. The area has attracted the interest of other real estate agents as well, as a new competitor – Chantilly-based real estate agent Sampson Properties – recently opened an outpost at Libbie Mill.
The location is the newest addition to Long & Foster’s presence in recent years. Two satellite offices were added in 2019, including one in Chesdin Landing, Chesterfield County.