A month after gathering to protest the lack of opportunities for real estate agents around National Harbor, several Prince George's County agents are organized and prepared with a plan to beef up their business.
Prince George's Real Estate Agents for Change's purpose is to monitor, support and encourage legislation pertaining to the real estate industry, ensure brokers are certified and ready to build, and keep businesses informed about real estate interests. The 18-member group met last week before a crowd of about 100 at Prince George's Community College in Largo.
"We need to start physically supporting legislation and become proactive. Our legislators can't be alone anymore," said Ruth C. Wright, the organization's founder and president of The Wright Realtor in Mitchellville. She pledged no more vacant legislative hearing rooms.
The group's goals include improving the system to convert people living in subsidized Section 8 rental housing into homeowners; establishing equity investment programs that allow the county to provide down-payment assistance in exchange for a percentage of the homeowner's later profits for selling; eliminating recordation and transfer taxes for home-buying teachers who have master's degrees; providing housing benefits to county police officers; educating people on the foreclosure process; instituting a moderately priced dwelling unit program; and having the county launch the state's House Keys 4 Employees program in which government employers and the state match a portion of home costs for first-time buyers.
"We're not reinventing the wheel here. The wheel is already working; it's just not working in Prince George's," said Carl Allen of Murrell Inc., who created the plan with the help of five Howard University business graduate students. Allen emphasized that many of the programs listed in the plan are already running in Montgomery County.
He said improving the Section 8 conversion system will be a significant help, as only 19 of the 1,400 families in the program in the county become homeowners each year.
Allen emphasized that the plan calls for a broad approach to the housing situation, taking into account elements that lure people to move into particular counties, such as school systems. The group's plan also involves seeking out churches with well-developed private schools and helping other churches mimic their success. Allen said more education options will make Prince George's more welcoming to homeowners, adding that more homeowners means more business for the community.
"Our job is to sell Prince George's to the public," Allen said.
The group has created several committees, including a political action group, a group to identify and list local real estate opportunities, and a group concentrating on foreclosures and short sales.
Dianne Turner Edmonds of Carteret Mortgage Corp. and leader of the foreclosure committee, said the foreclosure issue is particularly important in Prince George's, which has the highest rate in the state. She listed the year's foreclosure rates through the second quarter in several communities, including areas in Capitol Heights, Upper Marlboro, Fort Washington, Clinton and Hyattsville.
Brian Austin, owner of Royal Realty and chairman of the listing properties committee, reminded attendees that real estate agents must now balance their competitiveness with support. He said they must help brokers with significant contracts prove that Prince George's businesses are capable of handling their needs.
An essential step in winning these contracts is becoming certified as a Minority Business Enterprise through the county or state, said Del. Aisha N. Braveboy (D-Dist. 25) of Mitchellville.
Braveboy is also working with the group and other legislators on a bill requiring at least 25 percent minority business participation for any project receiving public financing subject to state approval.
"We're changing the paradigm," she said. "We need you to support us."