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Fairfax Realty’s Long-term Success Supported by Bank of America

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By Kayla O’Brien

RISMEDIA, June 8, 2009-At Fairfax Realty, Inc., long-term success is the name of the game. David Michalski, the principal broker behind the firm, founded in 1988, believes that a downturn isn’t a time to retrench. Instead, it’s all the more reason to train and support real estate agents so they can build for the long term.

“Our business is doing well, in a relative sense,” Michalski says. “We’re maintaining volume. This is because we’ve built for the long term. Our success can be attributed to our superior broker-managers, our training coordinators and the support of service providers like Bank of America Home Loans.”

Training and Support Drives Success

With eight offices in the District of Columbia, Maryland and Virginia, Fairfax Realty has about 1,000 agents. Agents stay motivated and informed, in part thanks to the knowledge, dedication and assistance of local Bank of America Home Loans mortgage loan officer Erin Johnson and her teammate, Dolores Chavez.

Every second Wednesday of the month, Johnson gets together in the evening with Fairfax Realty agents. The meetings might feature a presentation about a specific loan program, new tax incentives for home buyers or other changes impacting the mortgage and housing industries.

“Erin always does a lengthy Q&A in these get-togethers,” says Michalski. “She is extremely knowledgeable. Erin cares and loves her work…and it shows!”

The once-a-month Bank of America Home Loans session complements Fairfax Realty’s other training and support activities, which include a biweekly seminar in marketing or basic agent education, as well as a workshop conducted by the firm’s in-house title services professionals.

In addition to serving as an educational resource for agents, Johnson offers support tools, such as flyers, which cover a broad array of home loan products and networking e-mails-all of which help agents and their home buyers and home sellers.

‘The Level of Service Makes All the Difference’

In an area that includes high-cost markets, Fairfax Realty is experiencing solid activity in the under-$1 million price range. Michalski sees buyers getting off the fence, and he believes the D.C. Metro market will see more improvement in the next six months.

“We’re doing particularly well, especially in the affordable price ranges, because of great loan programs from providers like Bank of America Home Loans,” Michalski notes. He also attributes success to the fact that Johnson is available in the firm’s Silver Springs, Maryland, office to prequalify buyers on the spot.
When she is face-to-face with potential home buyers, Johnson takes a hands-on approach-putting buyers at ease and explaining the pros and cons of each loan product.

“My agents are really impressed. With prequalified buyers, instead of spinning their wheels, they are closing deals,” says Michalski. “The level of service makes all the difference. I’ve never experienced or seen any service provider that came close to the service Erin and Dolores deliver.”

Long, Established Relationships Bolster Success

With 20 years in the marketplace, Fairfax Realty’s well-established relationships also have bolstered the firm’s commitment to building toward long-term success.

“I am proud of our agents. They were very careful in their relationships,” Michalski says. “Now, they are not just riding out hard times, they are doing well.” He expresses similar sentiments about the firm’s relationship with Bank of America Home Loans.

“I give Bank of America a lot of credit. They are extremely reliable and I am comfortable with their stability. They stepped up to the plate, took on big responsibilities and have done great things for the country as well as themselves. This speaks volumes about the type of company they are,” Michalski concludes.

For more information, please visit www.bankofamerica.com.

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