RESIDENTIAL AND COMMERCIAL REAL ESTATE are often thought of as two separate industries, but are they as discrete as some people think?
When Realtors® are selling a house, they are also selling a community. Prospective homebuyers want to know about the restaurants, retail, grocery stores, parks and offices that surround their potential new home. Staying informed about commercial development is an important way Realtors® can enhance their role as their clients’ go-to expert.
Members had the opportunity to learn about planned, approved and ongoing development during the Commercial and Residential Bus Tour on Sept. 14 – co-hosted by NVAR and the Dulles Area Association of Realtors® (DAAR). The tour, themed “Doors Opening,” highlighted development along the Silver Line Metro corridor.
“It was really a neat experience,” Clarry Ellis, an NVAR member, said. “What a great time getting out, seeing the different communities and expansion – not just what’s going on now but what the plans are for the future.”
Attendees kicked-off the day with breakfast and a 360-degree view at the Comstock building in Reston. After presentations and a birds-eye tour by Maggie Parker, president of communications at Comstock Companies, members boarded buses and began their trip from Reston through Falls Church, Tysons and Loudoun County. Local real estate attorney tour guides shared their insider knowledge, and the day concluded with lunch and comments from Colleen Kardasz, assistant director of Loudoun County Economic Development.
“All of this [residential and commercial real estate] is tied together; it’s all connected,” Kardasz said. “If someone’s business is here but their employees can’t afford to live here, they are going to have to decide: should I stay or go?”
At the tour’s end, attendees walked away with a new understanding of what is in store for the future of real estate in Northern Virginia. Tour organizers from both associations urged Realtors® to continue to get involved in the decision-making process and have their voices heard by staying informed and communicating directly with legislators.
To view a highlight video of the event, click here!
Kate O'Toole 