Right now there is a lack of good inventory, which keeps demand high for the special offerings. We are also in the nation’s capital, which has a constant movement of purchasers into our market. The sub-prime debt debacle has primarily affected buyers without liquidity, and these are less often our buyers.     WL: People generally associate Washington Fine Properties with the very high end of the market, but not as much with the mid-range, or lower range. Is this fair? TOM ANDERSON: Not really. While we are known for the high end, over 50 percent of our sales are under $1 million. “Fine properties” are not defi ned by price; they exist in all price ranges, from small homes to magnifi cent estates. What defi nes a “fi ne property” in the market are the unique qualities that it offers compared to other similar listings in the same price range. Our focus is on offering these fi ne properties, while providing the highest degree of service to our sellers and purchasers that they each deserve. WL: What’s the most important advice you would give someone who wants to sell their property today? BILL MOODY: Right now pricing should be key to all buyers, and for sellers, an agent’s strength and credibility should be foremost in their minds. The market has changed today, and a seller has to be careful. Select the best brokerage fi rm who can provide you with the most powerful marketing platform and the strongest agent to effectively take your property into the market, and guide you on price. Be careful not to listen to hollow promises from agents who tell you what you want to hear… Remember, they will be representing you in the marketplace, and their strength or weakness will be the difference between a successful or disappointing sale WL: A number of other real estate fi rms in this market have grown and consolidated signifi cantly over the past few years, while WFP has stayed small and catered to the “carriage trade.” What impacted your decision to remain a boutique firm? MARC SCHAPPELL: To have the intimacy of a “carriage trade” firm, where knowledge sharing is paramount, you must impose “limits to growth.” Our model is underpinned by the most experienced, high performing agents in the markets we serve, and it’s a delicate balance, but we have no aspiration or interest in moving “WHAT DEFINES A ‘fine property’ are the unique qualities it offers compared to other similar listings in the same price range.” towards the volume driven or franchise driven models that are so prevalent today. That’s more about “corporate growth” than it’s about client satisfaction      WL: As a carriage trade fi rm, how do you match the national and international reach of the larger franchise fi rms? TOM ANDERSON: We are members of the most established international networks, and we personally know the fi nest local fi rms in all the luxury markets worldwide. We once belonged to a single network, but with the advent of so many more powerful networks, publications, and websites, we felt we owed it to our clients to join a handful of the best networks, and not limit our reach with just one. WL: A number of the area’s most successful realtors are all members of Washington Fine Properties. As the founders of the fi rm, how do you maintain collegiality and competitiveness among your colleagues, many of whom have been in real estate for their entire careers? DANA LANDRY: Our agents are the key to the success of our fi rm. They’re terrifi c. But as good as any one agent may be, they all benefi t from the power they have as a group. I like to reinforce the importance of teamwork and the leverage it gives each agent with their buyers and sellers. One of the key factors that differentiates WFP from other fi rms is that we run our company like a business. We have fewer, more experienced agents, and all of our people are required to attend weekly sales meetings and property tours. This strengthens the fi rm with teamwork and camaraderie, creating a powerful network. Agents share information regarding their new listings, purchasers’ desires in the market, market trends and success stories. This keeps all of our agents “ahead of the market” and working for our clients in a common direction as a team. It’s like having 80 agents on your listing team, and our clients appreciate the feeling of having an entire team behind their listing. National statistics show that 17 percent of all listings are sold by the fi rm with which they are listed; because of our team approach, WFP sells over 40 percent of its listings in-house.     WL: The four of you are a partnership of equals, which is an accomplishment in itself. What have been some of the keys to making this work over the long term? MARC SCHAPPELL: From the outset, the four of us were blessed with complementary, not competing, talents. Bill brings to the partnership an “agent’s perspective” because that is what he does everyday. He is not involved in the day to day running of the business. I focus on the strategic issues, corporate development and recruiting. Dana is our principal broker, and runs the company operationally. Tom works with all of our agents on agent development opportunities, keeps our marketing on-point, and runs our Fine Properties International Program. We each know what we are responsible for, and respectfully hold each other accountable. WL: What was the highest sale your company achieved this past year? TOM ANDERSON:The sale of a magnifi cent home in Georgetown that sold north of $25 million. To honor the owner’s privacy, I can’t say more