P. Wesley Foster Jr.
Founder and Chairman Emeritus, The Long & Foster Companies
CEO and President, The Long & Foster Companies
The company was founded in 1968 by Wes Foster and Hank Long, and it has grown into one of the largest independent residential real estate brands in America in sales volume. Over 10,000 agents and 1,800 employees work in more than 220 offices spread throughout the Mid-Atlantic and Northeast, from North Carolina to New Jersey (including over 4,500 in the D.C. metro area). In 2017, Long & Foster Real Estate had $31.1 billion in sales volume and sold nearly 85,000 homes. Likewise, Long & Foster’s affiliated businesses of mortgage, insurance, settlement and property management achieved significant results in the last year. Prosperity Home Mortgage financed nearly 10,900 loans for a total of $3.06 billion in volume. Long & Foster Settlement Services closed over 20,500 transactions and Long & Foster Insurance wrote over 9,800 new policies, bringing its total policies in force to nearly 49,50 0. The company accomplished these results while being acquired by the Minneapolis-based HomeServices of America, an affiliate of Warren Buffett’s Berkshire Hathaway, a partnership announced in September 2017 that created an even bigger combined company and stronger financial status for the firm and its agents.