The Amazon Effect: What Their Headquarters Announcement Means for Northern Virginia

By Tara L. Christianson on Nov 21, 2018 10:39:34 AM

It’s being called “The Amazon Effect,” and it has everyone in the Northern Virginia, Southern Maryland, and Washington, DC areas speculating on what’s going to happen next. If you’re unaware of what the Amazon Effect is – Amazon has recently announced that it’ll be building headquarters in two new locations: New York City and Crystal City in Arlington, Virginia. Whether you’re a homeowner, investor, renter, or someone who’s a potential buyer in these areas, you know that there will be some residual effect on transportation, traffic, school availability, and home prices. We asked some of our in-house real estate experts what they think about the Amazon Effect and, as expected, reactions were varied. Here’s what they had to say.

The Hype Alone Will Have an Effect

C21 Redwood Frederick agent, Bo Clevenger, notes, “Northern Virginia is full of high-tech companies already. Realistically this is just a drop in the bucket, and it should have only a minimal impact to the area, BUT there is so much hype associated with Amazon and the HQ East that there will be unfathomed results blamed/tied to the move.”

Russ Conners, Executive Vice President and Managing Broker of our Reston office, agrees with Bo:

“The impact will be mostly on residual real estate speculation and the hype over the Amazon name. We have a job surplus locally, so it will not make as big a splash as it would in other areas where tech jobs are in shorter supply. For example, ExxonMobil left Northern Virginia with the same number of employees and the impact was not directly noticeable.

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The Question You're Probably Not Asking of Your Next Potential Brokerage

By Tara L. Christianson on Oct 1, 2018 1:22:32 PM

When it comes to choosing your next potential brokerage, many people focus on monetary offerings – commission splits, bonuses, and more – or on other enticements that might make them choose a brokerage as their next brokerage. There’s one question, though, that many agents don’t ask, and that’s about your potential next brokerage’s agent retention rate.

Why is that important?

There are many reasons real estate agents may think it’s time to make a change in their brokerage, including lack of support, high or incomprehensible fee structures, insufficient education, a lag in keeping up with innovation, and isolation from their wider community. But it’s harder to pin down why real estate agents choose to stay with their brokerages.

One reason many agents stay with their brokerage is that they’ve found a brokerage who isn’t afraid to work on expanding their agents’ brand instead of their own. For example, many long-term agents at CENTURY 21 Redwood Realty admire our focus on enhancing our agents’ brands and letting them fly.

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