Impact Report 2025

THE IMPACT REPORT

PRESENTED BY

Table of Contents

T HE I MPACT R E P O RT

Communities of Opportunity....................................................................................... 2 Looking Back ......................................................................................................................... 4 Looking Forward ................................................................................................................. 5 Impact of Events.................................................................................................................. 6 Impact of Professional Development...................................................................10 Impact of DEI...................................................................................................................... 12 Outstanding Community Engagement............................................................... 13 Impact of Advocacy........................................................................................................ 14 Join the RPAC Elite .......................................................................................................... 17 Richmond as a Top Market ........................................................................................ 22 Impact of PHA .................................................................................................................. 24 Henrico Trust Fund ......................................................................................................... 26 Impact of CVR MLS ........................................................................................................ 28 Look Back at CVR MLS ................................................................................................. 32 Circle of Excellence........................................................................................................ 33 Translating “Communities of Opportunity” into Impact ........................... 35 Look Ahead at the Strategic Priorities.................................................................. 36

EDITOR-IN-CHIEF Hannah Baumer Marketing Coordinator PUBLICATION DESIGN Punch COVER PHOTO Bridget Hazel COVER PHOTO LOCATION University of Richmond Campus EVENT PHOTOGRAPHER Michelle Lefebvre Office: 804.422.5000 Web: RARealtors.com

Copyright © 2025. Richmond Association of REALTORS®. All Rights Reserved. Articles of information from the report may not be reprinted without the permission of the Richmond Association of REALTORS®.

The publisher does not endorse advertised products unless specifically stated, and reserves the right to reject any advertisements at any time.

RARealtors.com

1

RI C H MON D ASSOCIATION OF REA LTORS® 2025 R A R E X EC UTIVE COMMITTEE

2025 BOARD OF DIRECTORS Kim Atkinson Will Guza Scott McClaine Stephanie Prentice

PRESIDENT

Joan Dorsey

PRESIDENT-ELECT

Dakia Knight

John VanderSyde

VICE PRESIDENT

Daphne MacDougall

COM M I TTE E MEMBERS BY THE NUMBERS

6

6

18

BUDGET & FINANCE COMMITTEE

G O V E R N M E N TA L A F FA I R S COMMITTEE

N O M I N AT I N G & ELECTIONS COMMITTEE

C O M M U N I C AT I O N S COMMITTEE

21

15

55

16

D I V E R S I T Y, E Q U I T Y, & INCLUSION COMMITTEE

2

42

2025 IMPACT

G R I E VA N C E COMMITTEE

PROFESSIONAL S TA N D A R D S COMMITTEE

For a full list of committee volunteers, visit RARealtors.com/RARGovernance

PROGRAMS COMMITTEE

C EN TRAL VI RGI N IA REGIONA L MULTIPLE LISTING SERVICE

2025 CVR MLS EXECUTIVE COMMITTE E

PRESIDENT

Shanna Story

PRESIDENT-ELECT

Rhonda Carroll

VICE PRESIDENT

Jenn Cox

2025 BOARD OF DIRECTOR S Tondra Devarel Jim Dorsey Larry Lewis Jennifer Resnick Scott Shaheen Susan Stynes LaToya Washington

IMMEDIATE PAST PRESIDENT

Steve Overgard

S U BSCRI BE RS SERV ING BY THE NUMBERS

7

BUDGET & FINANCE COMMITTEE

19

12

MLS COMMITTEE

7

12

N O M I N AT I N G & ELECTIONS COMMITTEE

S TA N D A R D FORMS COMMITTEE

CEO named a Co-Chair of Governor-Elect Abigail Spanberger’s “United for Virginia’s Future” transition team.

CEO presentations/ speaking engagements

42

sales meeting visits by RAR & CVR MLS staff

For a full list of committee volunteers, visit RARealtors.com/MLSGovernance.

RARealtors.com

3

Looking Back J O A N D O R S E Y, 2025 PRESIDENT

I

n last year’s inaugural Impact Report, I noted: “while we cannot always control the circumstances in which we find ourselves and our industry, we can control our attitude toward those circumstances. Let us choose to be proactive, positive, and professional.” I am pleased to report that this is precisely how our Association and we, the members, have responded in 2025 to the ever-changing market and industry landscape.

While much of the country has seen a shift from a seller’s market to a buyer’s market, that trend has not yet materialized in Central Virginia. While 2025 inventory increased over past years and the pace of price appreciation slowed, demand remained quite strong. This reflects the high quality of life we enjoy in our region; understandably, many others want to experience that quality of life and put down roots in our communities. Much of the work of the Richmond Association of REALTORS® is focused on enhancing our collective quality of life. We do this by supporting the Partnership for Housing Affordability, donating $100,000 annually to nonprofits serving pre-K-12 and after-school programs that improve educational outcomes for youth, and partnering with Chamber RVA and other entities to promote “RVA Rising,” an economic mobility initiative. If we know that people will not buy a house until they have first bought into a community’s quality of life, then it’s our job to help

4

2025 IMPACT

build, maintain, and promote the attractiveness of our region and our collective quality of life.

Another significant component of our work is to provide our members with the products, programs, and services to enable them to practice real estate ethically, professionally and profitably. In 2024, we were required to shift our educational efforts into overdrive to prepare our members to practice in a world in which compensation was removed from the MLS. In 2025, new septic tank inspection legislation required changes to the ways our members must practice. Once again, RAR responded rapidly and thoroughly with town halls, FAQs, and Knowledge Base articles available 24/7. Your Association continues to do what all of us as real estate professionals must do daily — lean into the ability to adapt, it is a strength we must constantly call upon.

While we must respond quickly to changing markets and industry conditions, we must also prepare our agents for the future. An excellent example of this is the data share that CVR MLS executed with BRIGHT MLS earlier this year. Enriching the MLS database through the inclusion of data sets from other MLSs strengthens the ability of our members to meet the demands of their buyers and sellers.

Markets change and the real estate industry continues to evolve; but what will always remain the same is our commitment to our members.

Looking Forward D A K I A K N I G H T, 2026 PRESIDENT

A

In 2026, we promise to emphasize clarity, consistency, and transparency in all our communications. We will focus on our core capacities: member engagement, delivery of timely educational programming and

“

professional development support, powerful advocacy, the management of a state-of-theart MLS, and operational excellence. Working with partners in local and state government, philanthropy, as well as for-profit and nonprofit developers, RAR will continue to champion the necessity of investing in and building more housing. Safe, sustainable, attainable housing is the foundation upon which communities of opportunity are built.

The futures of this region and the real estate profession are bright; we are excited to be a part of it.

“

s we look to 2026 and beyond, we must seek to meet the needs of today’s REALTOR® and prepare for a future which may have only one characteristic in common with the present — change. While we cannot control the future, we believe we can own our path to navigate it. We can own our value by defining, delivering, and communicating our hyper-local relevance. We can own our infrastructure by building internal strength and agility to lead with curiosity and courage. And we can own our impact by amplifying RAR’s influence through policy, education, and community leadership that drives progress and growth. When we state our intention to “own” our future, we are committing to hold ourselves accountable to deliver on what we promise to our members.

Safe, sustainable, attainable housing is the foundation upon which a communities of opportunity are built.

RARealtors.com

5

Impact of Events D AY O N T H E H I L L JANUARY 23, 2025 RAR hosted our annual Day on the Hill. Attendees met at the Capitol, sat in on committee meetings, met with their legislators, and viewed the floor sessions.

A N T I T R U S T T R A I N I N G F O R V O L U N T E E R L E A D E R S | J A N U A R Y 2 9, 2 0 2 5 For the first time, all Committee Chairs and Vice Chairs for the Richmond Association of REALTORS® gathered for a training session focused on avoiding antitrust conversations in committee meetings.

DONNA PROCISE CLASSROOM D E D I C AT I O N | A P R I L 9, 2 0 2 5 The classroom at the Richmond Association of REALTORS® was dedicated in honor of Donna Procise, in recognition of her decades of service to the Association as a dedicated educator.

6

2025 IMPACT

R E A LT O R ® H E A D S H O T D AY APRIL 15, 2025 & SEPTEMBER 23, 2025 Twice per year, RAR provides our members with the opportunity to have their professional headshots taken by photographer Michelle Lefebvre of Aquatree Designs.

70+

headshots

RAR GOLF TOURNAMENT AND SPRING FLING APRIL 23, 2025 RAR’s Golf Tournament and Spring Fling Cocktail Reception at the beautiful Magnolia Green Golf Course were great successes. Tournament players competed for prizes, and all members were invited to join the Spring Fling reception to enjoy beverages, appetizers, and great music.

LOCKBOX RETURN & EARN M AY 1 – 1 6 , 2 0 2 5 & D E C E M B E R 1 – 1 1 , 2 0 2 5 From May 1-16 and December 1-11, members returned their unassigned SentriLock lockboxes to the Richmond Association of REALTORS/CVR MLS offices. CVR MLS users earned $10 for every returned lockbox.

R E T R E N D S | O C T O B E R 2 9, 2 0 2 5 RE Trends is the Richmond Association of REALTORS® biennial event focused on emerging trends and technology in real estate. This event included speakers Brandi Snowden, Director of Member and Consumer Survey Research at the National Association of REALTORS®, and Ryan Price, Chief Economist at Virginia REALTORS®.

R PA C A P P R E C I AT I O N R E C E P T I O N N O V E M B E R 1 9, 2 0 2 5 This annual reception is held in recognition of RAR’s RPAC Investors and their commitment to the Association’s advocacy work. Every year, RPAC’s Fair Share ($99+) and Major ($250+) Investors are invited to share a cocktail and break bread with area elected officials.

8

2025 IMPACT

I N S TA L L AT I O N R E C E P T I O N AT T H E J E P S O N ALUMNI CENTER | DECEMBER 11, 2025 The leadership of RAR and CVR MLS for 2025 are installed and outline their visions for the coming year.

407

new REALTOR® applications processed from January 1 to October 30, 2025

23,543 tickets received in 2025

Member Services Subscriptions Stats

18,683 lockboxes out in the market

501

new MLS subscribers in 2025 (from January 1 - October 30)

4 Fellows

from VCU’s Kornblau Real Estate Program. This successful rotation led to 2025 Fellow Alexis Hurdle joining the staff of RAR. RARealtors.com

9

Impact of Professional Development

T

he Richmond Association of REALTORS® strives to foster professional development in the real estate community by offering its members a diverse selection of programs and educational opportunities.

In 2025, these opportunities included:

180+ 550 COURSES through our Real Estate School

7

NAR training opportunities

HOURS of continuing education credit

9 designations and certifications

New course offerings focused on housing affordability

I

4

FREE Town Hall Meetings with Attorney Michael P. Lafayette, including a Town Hall focused on septic legislation updates

n May, the Richmond Association of REALTORS® hosted a town hall meeting with Attorney Michael Lafayette to review the changes in the septic system inspection requirements, which became effective on July 1. Additionally, RAR provided an extensive list of frequently asked questions, a list of system type descriptions, and a thorough summary of the changes in the CVR MLS forms necessitated by the legislative changes.

10

2025 IMPACT

8,922

3,445

CLASS registrations

230

CERTIFICATES awarded

HOURS spent onsite

4

ON-DEMAND classes offered on learning.RARealtors.com

MEMBERS WHO EARNED THE MOST CE CREDIT T H R O U G H T H E R A R R E A L E S TAT E S C H O O L Gwen Branch | Ann Lauterbach |

2,335

264

642

TOWN HALLS

968 Septic Town Hall MAY 28

Broker Town Hall JUNE 16

Nº2 Nº3

REGISTRANTS

Town Hall JUNE 23

461 Town Hall JUNE 24

HOURS spent on Zoom classes

TOP 5 MOST POPULAR CLASSES

Nº1

Eric Hughes

4

348

Nº4 Nº5

Affordable Housing Opportunities in the Region Fair Housing Asking for a Friend: Best Practices for Today’s Real Estate Market NAR Triennial Ethics Trending Real Estate Topics

W E T H A N K O U R I N S T R U C T O R S W H O H AV E TA U G H T C L A S S E S W I T H U S I N 2 0 2 5 : Rhonda Carroll

Kristin Beran Krupp

Libby Gatewood, ABR®, GRI®, RAA

Michael Lafayette

Wayne Gauthier, ABR®

Peggy Lynch, GRI®, RCE

Rick Grizzell

Scott McClaine

David Hamil

Mary Kathryn Perkinson

Dakia Knight, GREEN, SFR, SRS

Donna Procise, ABR®, ABRMsm, GRI®, SFR

Matthew Rathbun, ABR®, CIPS, CRB, CRS, ePRO®, GREEN, GRI®, MRP, SRS Keith Smith, GRI®, AHWD, PSA Shanna Story, GRI® Mark Worrilow

RARealtors.com

11

Impact of DEI I

n 2025, the Richmond Association of REALTORS® Diversity, Equity & Inclusion (DEI) Committee partnered with the Virginia Center for Inclusive Communities (VCIC) to provide a series of experiential learning sessions for the greater membership.

These highly interactive workshops allowed participants to learn more about topics such as unconscious bias, effective dialogue, and conflict resolution, while also applying these concepts to real-life situations such as real estate transactions.

These sessions furthered the committee's mission to promote education and awareness around the values of equity and inclusion in the REALTOR® community.

YEAR IN NUMBERS

3 10

workshops with Virginia Center for Inclusive Communities open to all members

125+

REALTORS® attended the Virginia Inclusion Summit to represent the Realtor community

signatures on the digital Commitment to Inclusion pledge at RARealtors.com/DEI

WORKSHOPS FOCUSED ON DEI

Nº1 Nº2 Nº3

Foundations of DEI and Unconscious Bias Teachable Moments Managing Conflict and Promoting Empathy

Outstanding Community Engagement In 2025, the members of the Broker Council encouraged their firms to participate in the Massey Challenge at the Ukrop’s Monument Ave 10K.

~$10K

raised by teams from Napier ERA & Long & Foster for the VCU Massey Comprehensive Cancer Center.

For their efforts, Napier ERA and Long & Foster were recognized by the Broker Council for their Outstanding Community Engagement.

P H I L A N T H R O P I C C O M M I T T E E / C O M M U N I T Y I N V O LV E M E N T

$100K

of interest income earned from RAR’s LION loan (Local Impact Opportunity Note)

12

NONPROFITS

5

521.5

housing related charities

HOURS of community service

by RAR/CVR MLS staff

35

NONPROFITS

BY

24

S TA F F M E M B E R S

ACTS Better Housing Coalition HomeAgain

Homeward Virginia Housing Alliance

Compiled packets in the CIS room

Painted recess activities on the blacktop

Mulched outdoor beds

OCTOBER 2025: RAR & CVR MLS BOARD SERVICE THROUGH COMMUNITIES IN S C H O O L S AT H O P K I N S E L E M E N TA R Y

Constructed new benches

Impact of Advocacy

POWER IN ACTION

2,469 BILLS were introduced

14

2025 IMPACT

22

BILLS supported & passed

22

BILLS opposed & defeated

25

BILLS successfully amended

167

BILLS were monitored

5

BILLS proposed by REALTORS® passed

ADVOCACY GRA NTS AWA RDED The Virginia Capital Trail Foundation

Atlas Zoning Webinar

City of Richmond Zoning Code Refresh Housing Poll

PLACEMAKING GRANT

SMART GROWTH GRANT

SMART GROWTH POLLING

$10,500

$3,000

$37,000

2 02 5 A DVOCACY

1.

Served on the Inclusive Housing Working Group for the Richmond City Zoning Code Refresh T H E G O A L : Assist the Zoning Advisory Council in reviewing the proposed ordinance. The goal is to ensure the new code aligns with the “Richmond 300” master plan’s vision for inclusive housing, addressing affordability and equity.

2.

Served as a member Chesterfield’s Zoning Ordinance Modernization (ZOMod) Advisory Committee Meeting T H E G O A L : Help with the rewriting of the county’s Zoning Ordinance to align it with their long-range comprehensive plan and modernize development regulations.

3.

TO P 5 W EBI NARS

Nº1

Zoning Atlas

Nº2

Learn and Live 2.0

Nº3

Introduction to Henrico Served as a member of the Program for Public Information Committee Member in Henrico County

County’s Affordable Housing Trust Fund

T H E G O A L : Develop strategies to share flood-related information with Henrico residents.

Nº4

Chesterfield ZOMod

Nº5

Richmond Public Schools Update for REALTORS® with Superintendent Kamras

RARealtors.com

15

Smart Growth Survey Data DEMOGRAPHICS Geography: Richmond City Wide Survey from all 9 city districts

55%

women

Sample: 654 Registered Richmond Voters

45% men

H A B I TAT

(contacted via phone or text)

48%

homeowner

Poll conducted: April 28 - May 2

41% renter

Street/road maintenance

8%

City taxes

SEX

Traffic

10%

live with family or friends

36%

less than 5 years

54% white

38% of respondents say housing costs and availability are the top concern facing the city

TENURE

22% 5 to 10 years

15% 11 to 20 years

RACE

40% black

27%

more than 20 years

3%

Hispanic

3%

other

47% say cost of housing is very big or fairly big problem

3%

48% say housing availability is

12%

very big or fairly big problem

72% say there is too little

Crime

18%

KEY HOUSING TAKEAWAYS

38%

housing for young people and those are who just starting in their careers

67% say there is too little housing for people with middle class incomes

20% Water and sewer

71%

strongly agree or somewhat agree that we need more housing that is affordable

16

2025 IMPACT

65% say there is too little housing for seniors or folks looking to downsize

67%

strongly agree or somewhat agree that Richmond needs more housing options

Join the RPAC Elite

Many thanks to the 2025 RPAC Major Investors.

This list reflects only RPAC contributions received before September 12, 2025.

To become a member of the RPAC Elite, invest $250 or more in Richmond RPAC. Log in to RARealtors.com and look for the Invest in RPAC link on your member profile page.

RARealtors.com

17

Golden R | $5,000

18

BETH DALTON Joyner Fine Properties

JOHN FINN LIBBY GATEWOOD United Real Estate Richmond Napier Realtors, ERA

KAREN SMITH RE/MAX Commonwealth

SHANNA STORY Parr & Abernathy Realty

2025 IMPACT

JACK TORZA Long & Foster REALTORS®

Crystal R | $2,500

JENNIE BARRETT SHAW The Steele Group

RHONDA CARROLL Samson Properties

KATHERINE HAWKS The Steele Group

NATHAN HUGHES Sperity Real Estate Ventures

DAPHNE MACDOUGALL The Steele Group

WAYNE GAUTHIER Joyner Fine Properties

NAVONA HART Century 21 Realty

CURT REICHSTETTER Two Dog Realty

Sterling R | $1,000

KIM ATKINSON Shaheen Ruth Martin & Fonville

DAWN BRADLEY Long & Foster REALTORS®

BLAKE EUDAILEY BHHS PenFed Realty

SANDY OWENS RE/MAX Commonwealth

HEATHER PLACER MULL KAREN STEPHENS Shaheen Ruth Long & Foster Martin & Fonville REALTORS®

LATOYA WASHINGTON Covenant Realty

RARealtors.com

19

Governor’s Club | $500

SARAH BICE Bice & Associates

JOAN DORSEY Long & Foster REALTORS®

MAHOOD FONVILLE Shaheen Ruth Martin & Fonville

MELANIE HERRING Shaheen Ruth Martin & Fonville

JOHN MARTIN Shaheen Ruth Martin & Fonville

MARY K MCDONALD Long & Foster REALTORS®

SCOTT RUTH Shaheen Ruth Martin & Fonville

JASON SAUNDERS SCOTT SHAHEEN Rashkind Saunders & Co Shaheen Ruth Martin & Fonville

DAKIA KNIGHT ICON Realty Group

Capitol Insider | $250

FERAS ALMOMANI Shaheen Ruth Martin Fonville

NAT CROSS Realty Richmond

PATRICE CARROLL Keller Williams Realty

TERRA DANTONA Joyner Fine Properties

PAULA LISA DAWSON Joyner Fine Properties

SANDRA FRANCISCO BHHS PenFed Realty

JUDITH FLAIG GRAFFUM Harvest Realty

KATE KELLEY Liz Moore & Associates

BETH K. ROBBINS

CLAIRE FORCIER ROWE BHHS PenFed Realty

TAKISHA RUFFIN

CYNTHIA SAADY Fathom Realty Virginia

JOHN VANDERSYDE Long & Foster REALTORS®

ALEC WHITE

Real Broker, LLC

United Real Estate Richmond

Shaheen Ruth Martin & Fonville

JAMIE YOUNGER Long & Foster REALTORS®

RARealtors.com

21

Richmond as a Top Market A P R E M I E R D E S T I N AT I O N I N 2 0 2 5 ’ S R E A L E S TAT E L A N D S C A P E

R

ichmond, Virginia has emerged as one of the nation’s most dynamic housing markets in 2025. Ranked #5 by Realtor.com and #9 by Zillow, the city offers a compelling blend of affordability, economic vitality, and cultural richness, making it a prime choice for homebuyers and investors alike.

K E Y M A R K E T H IGH LIGH TS MEDIAN HOME PRICES

As of January 2025, the median listing price in Richmond stands at $375,000, reflecting a 7.1% year-over-year increase. The median sold price is approximately $350,000, indicating a balanced market where homes are selling close to their asking prices.

I N V E N TO RY DY N A M I C S

While inventory remains limited, new construction in suburban areas like Short Pump and Midlothian is expected to provide more options for buyers, potentially easing competition.

NEIGHBORHOOD APPEAL

Richmond’s diverse neighborhoods cater to various lifestyles. The Fan, Museum District, and Byrd Park offer historic charm and walkability, while areas like River Road and Cary Street Road appeal to luxury buyers. Suburban locales like Midlothian provide family-friendly environments with newer construction.

$375,000 median listing price

22

2025 IMPACT

7.1%

year-over-year increase

RANKED

Nº5

B Y R E A LT O R . C O M

Nº9

BY Z I L LOW

WHY RICHMOND? Economic Growth: Home to major employers such as VCU Health System, CarMax, and Dominion Energy, Richmond’s robust job market continues to attract professionals, fueling housing demand.

Cultural and Lifestyle Appeal: The city’s vibrant arts scene, historic architecture, and proximity to outdoor recreational areas make it an attractive place to live.

Investment Opportunities: With rising home values and a competitive market, Richmond presents lucrative opportunities for real estate investors seeking growth potential.

N AV I GAT I NG TH E M ARKE T For REALTORS® working with prospective buyers and sellers, understanding Richmond’s market dynamics is crucial: FOR BUYERS AGENTS:

FOR LISTING AGENTS:

Expect a highly competitive environment, particularly in desirable neighborhoods. Prepare clients for multiple-offer scenarios and emphasize the importance of strong, well-timed offers. Leveraging your local market expertise—comparable data, neighborhood trends, and negotiation insights—can make all the difference in helping buyers secure their ideal home.

With inventory moving quickly and many properties selling above list price, now is a prime opportunity to engage potential sellers. Encourage clients to position their homes strategically through professional staging, standout marketing, and data-driven pricing. Your guidance in showcasing unique property features can attract qualified buyers and maximize sale outcomes.

Richmond’s real estate market in 2025 offers a wealth of opportunities for both buyers and sellers.

Richmond stands out as a city on the rise.

R E ADI NG L I ST

Nº1

Realtor.com: Top 10 Housing Markets for 2025"

Nº2

WFXR: Richmond Among Most Competitive Markets in 2025

Nº3

Axios Richmond: Richmond Real Estate Heats Up

RARealtors.com

23

Impact of PHA

I

B U I L D I N G M O M E N T U M : P H A’ S 2 0 2 5 I M PA C T A N D T H E R O A D A H E A D n 2025, the Partnership for Housing Affordability reinforced its leadership role by releasing an updated regional policy agenda and a Corporate Playbook for Affordable Housing. Together, these resources provide clear guidance for policymakers, businesses, and advocates, laying the groundwork for collective action to expand housing affordability and stability across our region.

That vision began taking shape through PHA’s administration of Henrico County’s $60 million Affordable Housing Trust Fund. Launched in 2024, the fund is producing results with hundreds of affordable units already awarded and more in the pipeline. Independent analysis by Mangum Economics projects the fund will generate 150 new affordable homes annually while also supporting 247 local jobs, $18.9 million in wages and benefits, and $55 million in economic output each year.

This momentum is reinforced by PHA’s new strategic plan, set to take effect in 2026. The plan codifies the organization’s role as the regional leader in affordable housing policy and advocacy, ensuring that PHA continues to drive solutions at the scale of the housing challenges facing Greater Richmond.

24

2025 IMPACT

HRL

BY THE NUMBERS

6,520

The Housing Resource Line offers residents a direct line to vital housing information and referrals. This service helps connect people with housing assistance programs, affordable housing options, and expert advice to support their unique needs.

11

MINUTES

HRL total number of calls

HRL average call time

773

$196,088

Partnership referrals to date

Amount of financial assistance residents were connected to (as of 10.28.2025)

SERVICES NEEDED

BY CALLERS (01.01.25 – 10.31.25)

2,722

1,428

Financial assistance

Rental options

275 Other

88

53

22

Homebuying support Pre-Homelessness

Financial education

14

6

3

2

1

Foreclosure Housing prevention discrimination Ramp Repair Lending Needed needed support

12%

Security deposit

10%

2,294

Utilities

74% Rent

1.62% 0.94% Mortgage

Richmond City

5

Other

Charles City

17

7

New Kent

Powhatan

T O TA L N U M B E R O F C A L L S

BY LOCALITY RESIDENTS

8

108

Goochland

Hanover

(01.01.25 - 10.31.25)

1,284 Henrico

887

Chesterfield

pharva.com

25

Henrico Trust Fund AFFORDABLE HOMEOWNERSHIP O P P O R T U N I T I E S F O R F I R S T-T I M E B U Y E R S

H

enrico County’s Affordable Housing Trust Fund provides development incentives and grants to builders to create affordable homeownership opportunities for households earning 60–120 percent of the Area Median Income (AMI).

By reducing home sales prices, the program expands access to ownership and supports wealth building across multiple neighborhoods and magisterial districts. The Partnership for Housing Affordability administers the program, overseeing application review, funding allocation, and compliance. In 2025, over 140 units were awarded through the Fund.

141

T O TA L AWA R D E D U N I T S

$11.1M+ EXPENDED

ECO N OM I C I M PACT RE PO RT PHA collaborated with Mangum Economics to assess the program’s fiscal impact. Household expenditures by new homeowners and the construction of 750 housing units are projected to yield:

1,700+

$6.3M

$365M

$125M

local job growth

local tax revenue

economic output

associated wages

H E N R I CO TRUST F U N D BU Y E R PROFILE

median family size

2

county employee purchasers

25%

$84,230

90%

745

60%

average household AMI

average credit score

annual average household income

current Henrico renters

M E D I AN SA LE S PRI C E : N E W CONSTRUCTION

2024 HENRICO TRUST FUND

600,000 500,000 400,000 300,000 200,000 100,000 0

VA R I N A

FA I R F I E L D

TUCKAHOE

THREE CHOPT

BROOKLAND

COUNTY (ALL) RARealtors.com

27

Impact of O

ver the past year, CVR MLS has engaged with a broad spectrum of agents and industry professionals across multiple regions, reinforcing our role as a trusted resource in the real estate ecosystem.

Through consistent support and data oversight, CVR MLS touched thousands of listings and facilitated meaningful improvements in accuracy and efficiency. Our strong footprint—reflected in both the volume of interactions and the diversity of markets served—underscores our commitment to excellence and delivering value to our users.

25TH ANNIVERSARY We have had the pleasure of serving our central Virginia community for 25 years.

S T R AT E G I C D ATA S H A R I N G

D ATA A C C U R A C Y & C O M P L I A N C E

CVR MLS advanced its data strategy through key partnerships, including the launch of the Bright MLS data share. Alongside existing collaborations with REIN MLS (Virginia Beach/ Hampton Roads) and CBRAR Property Services (Middle Peninsula), these integrations extend CVR MLS listing visibility across the Commonwealth and beyond—all within the native Matrix platform. We continue to pursue strategic relationships that empower agents and serve their clients.

Accurate, verifiable data remains the foundation of our compliance efforts.

CVR MLS continuously evaluates rules, regulations, and technology to ensure listing data integrity. This commitment supports agent success and maintains the reliability of our MLS ecosystem.

$8,021,860,158

IN TOTAL SALES (YEAR TO DATE)

3.1%

of households were represented in a CVR MLS sale in the last 12 months.

This is based on a total of 16,638 MLS sales with a total of 536,542 households in the Richmond VA CBSA.

28

2025 IMPACT

Population date is based on the ACS 2023 survey.

M AT R I X M L S S Y S T E M VISITS

313,697 82,160 45,351 12,443 10,001 TransactionDesk

Realist

ShowingTime

MarketStats

SentriLock

8,455

4,947

1,875

1,555

1,475

RPR

FastStats

ListTrac

C V R + A L L D ATA S H A R E SERVICE MAP

DepositLink

TRAFFIC

BY MON TRENDS TH

2025

AV E SHOWIN RAGE GS PER LISTING

BY MON TH

JANUAR

6.3 M AY

SEPTEM

88,841 registered users

SINCE LAUNCH

FEBRUA

7.2

RY

O C TO B E

4.7

R

MARCH

7.5 J U LY

5.6

BER

4.7

RETURNED LO C K B OX E S

Y

JUNE

6.4

413

C O TA L I T Y C O N S U M E R E N G A G E M E N T R AT E S (O C TO B E R 2 02 5 )

CubiCasa

5.4 NOVEMB

L A S T 3 0 D AY S

ER

APRIL

7.3

AUGUST

4.8 DECEMB

ER

626,135

302,805

34,000

4,462

500

15,820

total listing views

agents with active users

monhly visits

tour requests

unique users

listing likes

CVRMLS.com

29

$390,210

HOW MANY USERS DID C V R M L S H AV E I N . . .

6,342

6,503 5,266

$195K

2024

2013

2002

W H AT W A S THE MEDIAN PRICE OF A HOME IN...

2026

2016

2006

$142K

Years of Fun Facts Nº1

HISTORIC SNAPSHOT

An MLS Book was delivered to all the offices every Friday. It included black and white photos of the exterior of a listing.

Nº2

A CVR MLS photographer used to travel to each listing and snap a single photo of the home. They would then drop off physical prints of the photos to the office, and MLS staff would scan them into the system for use in the MLS Book. Once CD-ROMs were commonly used, the photographer switched to delivering photos via CD.

Nº3

There used to be only one photo per listing.

Now, CVR MLS subscribers can upload 50 photos (and more soon) at once.

30

2025 IMPACT

Nº4 Agents used to stop by the office to pick up packets of physical contracts.

In 2003 CVR MLS contract had

6

pages only

Nº5 A Map Book was used to show the different areas and zones within them.

Nº6 Listing Information used to be provided via a dial-up connection.

SIGNIFICANT PRODUCT LAUNCHES

17

MLS outreach visits in 2025 LAUNCHED IN 2013

LAUNCHED IN 2019

LAUNCHED IN 2017

FIRST AI PRODUCT

The Dashboard LAUNCHED IN OCTOBER 2019

ROAD RULES CLASS MOVED TO ON-DEMAND IN 2020

RECEIVED LAUNCHED IN APRIL 2023 C E R T I F I C AT I O N I N DECEMBER 2018

6

Full-time staff AT C V R M L S

C V R M L S D ATA S H A R E S WITH CBRAR, REIN AND VIRGINIA BRIGHT MLS

New user training became mandatory in 2024

WAV Group's 2024 Winner BEST MLS IN T E C H N O L O G Y, D ATA Q U A L I T Y & TRAINING

RARealtors.com

31

Looking back at 2025 KEY ACCOMPLISHMENTS

Nº1

Nº 2

Nº 3

B R I G H T D ATA SHARE LAUNCH

ONEHOME ENHANCEMENTS

S Q U A R E F O O TA G E RESTRUCTURE

We rolled out our data share with Bright on May 14, marking a major milestone in our strategic relationships.

We introduced photo search to improve client portal usability.

We redesigned our square footage input fields for more accurate data delivery and flexible searching capabilities.

Nº4

Nº 5

N A R ’ S M U LT I P L E L I S T I N G OPTIONS FOR SELLERS

COMING SOON E X PA N S I O N

We successfully navigated NAR’s MLS mandates, affirming that our existing structure continues to support agents and clients with a wide range of listing and marketing options.

We extended our Coming Soon listing window from 21 to 45 days to support our changing market.

Nº6

Nº7

FORMS LICENSING SHARE

SENTRILOCK RETURN & EARN

Nº 8

We shared forms with neighboring Associations and MLSs to increase contract familiarity in our region.

We ran a successful incentive program to encourage lockbox returns.

We delivered updated forms, education, and resources for new inspection requirements.

Nº9

Nº10

We enhanced our resources for 24/7 access to need-to-know information.

As of November 12, 2025, we partnered with Williamsburg Multiple Listing Service (WMLS) to allow users access to SentriLock lockboxes in each jurisdiction without needing separate credentials.

KNOWLEDGEBASE

32

2025 IMPACT

S E P T I C L AW S U P P O R T

WILLIAMSBURG MLS LOCKBOX RECIPROCITY

Circle of Excellence HONOREES

TARA ADAMS Keller Williams Realty

SCOTT ANDREWS Nest Realty Group

KIM ATKINSON Shaheen, Ruth, Martin & Fonville

KHALIYAH BARAKHYAHU EXP Realty

JEMMA BLISS Liz Moore & Associates

AMANDA BRENNAN Coldwell Banker Prime

ANN BRINKLEY Honey Tree Realty

JENN COX Jenn Cox Realty

TONDRA DEVAREL Shaheen, Ruth, Martin & Fonville

JOHN FINN United Real Estate Richmond

JUDITH FLAIG GRAFFUM Harvest Realty

CLAIRE FORCIER-ROWE BHHS PenFed Realty

LIBBY GATEWOOD Parr & Abernathy Realty, Inc.

KEOSHOA GORDON Shaheen, Ruth, Martin & Fonville

MELANIE HERRING EXP Realty

LAURA JARRETT RE/MAX Commonwealth

EMJAY JOHNSON ICON Realty Group

MELINDA JOHNSON Resource Realty Services

RARealtors.com

33

34

TSHIKA JONES ICON Realty Group

LACEY KEARNEY Providence Hill Real Estate

LADONNA LEWIS ICON Realty Group

BETH LANE Metropolitan Real Estate

KRYSTYL LEONARD Encompass Realty

ANGELA SCOTT BECKY MCNEER MCCLAINE MCCLAINE Shaheen, Ruth, Lifelong Realty, Inc. Lifelong Realty, Inc. Martin & Fonville

MAYA MESSER Long & Foster REALTORS®

JANET NOWLIN NextHome Integrity Realty

SAM PLOTT BHHS PenFed Realty

PAM POPE Long & Foster REALTORS®

BETH K. ROBBINS United Real Estate Richmond

CONNIE G. RODRIGUEZ ERA Woody Hogg & Associates

ALICIA SHIELDS NextHome Advantage

ALEXANDRIA SMITH Long & Foster REALTORS®

KAREN SMITH RE/MAX Commonwealth

DARE TULLOCH Long & Foster REALTORS®

TINA WINN Shaheen, Ruth, Martin & Fonville

DENNETTA WRIGHT Fathom Realty Virginia

JAMIE YOUNGER Long & Foster REALTORS®

DAUNE ZOOK Samson Properties

2025 IMPACT

DANIELLE KENNY Wind Chime Properties

DAKIA KNIGHT ICON Realty Group

Translating Communities of Opportunity into Impact

A

t the Richmond Association of REALTORS® (RAR), we have a mantra: “People will not buy a house, until they have first bought into a community’s quality of life.” Our collective quality of life will not be what it can and should be until each person in RVA has the opportunity to flourish. A “community of opportunity” is a regional ecosystem in which people have a chance to experience positive health, educational, and vocational outcomes. Safe, sustainable, attainable housing is the foundation upon which a community of opportunity is built. This philosophy of creating “communities of opportunity” is now being realized in a regional initiative five years in the making, “RVA Rising.” RAR has been one of the key organizations driving the creation and execution of RVA Rising which seeks to make upward economic mobility the primary focus of our public, private, nonprofit, and philanthropic efforts.

for the development of 126 homes affordable to

In the Richmond region, RAR has been and will continue to be a driving force in advocating for and advancing the cause of housing. In 2024, RAR established the Partnership for Housing Affordability (PHA)—a 501c3 dedicated to pursuing partnerships with local policy makers to create more affordable housing and undergird our regional real estate market. Last year Henrico county tapped PHA to administer its one of a kind $60 million Affordable Housing Trust Fund. In 2025 PHA awarded $9,855,000

repository of listing data that enables participants to

$11,100,000 PHA EXPENDED IN 2025

households earning between 80 – 115% of the Area Median Income. This is a remarkable public, private, nonprofit partnership.

Within RAR itself, we provide members with the education, advocacy, and risk management services they need for the opportunity to build professional, ethical and profitable careers. For example, before legislation establishing new rules regarding septic inspections went into effect on July 1 of this year, RAR prepared the membership for these changes with informative town halls, video tutorials, and Knowledge Base articles available 24-7 via RARealtors.com.

At the Central Virginia Regional Multiple Listing Service (CVR MLS), the staff and leadership recognize that maintaining a timely and accurate database of residential listing data makes an orderly real estate market possible. The MLS database is the essential meet the needs of their clients. In 2025 we enriched this database through a datashare with BRIGHT MLS. We will seek to continue to grow strategic partnerships with additional MLS through ongoing datashare efforts. In addition, CVR MLS supports a state-of-the-art portfolio of technology products— Showing Time, SentriLock lockboxes, Transaction Desk, etc.—vital tools that increase the opportunities for our participants to succeed.

141

AWARDED UNITS RARealtors.com

35

Looking Ahead to 2026-28 Strategic Priorities STRATEGIC I N TEN TI ON OWN T H E FUT U RE: A roadmap to strengthen relevance and resilience in an evolving industry landscape.

When strategy meets agility, we will own our future.

Nº1 OW N OUR VA LUE Define, deliver, and communicate our hyper‑local relevance, reinforcing our unique role as a trusted, mission‑driven voice for members and the communities we serve.

36

HYPER‑LOCAL RELEVANCE

TRUSTED VOICE

MISSION‑DRIVEN

Establishing our unique position in the local real estate landscape

Serving as the trusted resource for members and communities

Guided by purpose in all initiatives and communications

2025 IMPACT

Nº2 OW N OUR I N FRASTRUCT UR E Build internal strength and agility to lead with courage by establishing a stable foundation across leadership, systems, and financial strategy.

LEA D ERSHIP

SYSTE M S

Developing and supporting courageous leaders ready to navigate industry challenges

Implementing agile technology and processes that support systems thinking

FINANCIAL STRATEGY Maintaining sustainable financial models for long‑term health and opportunity

Nº3 OW N OUR IM PAC T Show up where it matters and lead with purpose by amplifying influence through policy, education, and community leadership that drives progress.

RARealtors.com

37

Core Functions of the Association Nº1 M E M B E R E N GAGE M E N T Fostering active participation and strong relationships within our community of members.

•

Develop value‑driven member services informed by data analytics

•

Prioritize personalization of touchpoints at scale

•

Host membership meetings, events, and forums that meet the moment, including diversity, equity, and inclusion initiatives

Nº2

L E ARNIN G A N D P ROF ES SIO N A L D EV ELOPMEN T Providing cutting‑edge education and growth opportunities for industry professionals.

Foster leadership in the real estate profession through leadership development and risk management education Manage content dynamically for microlearning opportunities through modern channels

Offer accredited education, foundational real estate practices education, and broker policy education through live, virtual, and in‑person facilitation based on demand metrics

DVOCACY A N D Nº3 AGOV E R N M E N TA L A F FA IR S Representing member interests and influencing policies that shape the real estate landscape.

Lead local advocacy on land use, housing, and private property rights

38

2025 IMPACT

Strengthen local government affairs and industry visibility at the General Assembly

Mobilize members for REALTOR® Party initiatives and RPAC fundraising

Nº4

Nº5

M LS COMPA N Y M A N AG EMEN T

Efficiently managing and evolving our Multiple Listing Service to serve subscribers’ needs.

•

Maintain strategic ownership and operation of Central Virginia Regional Multiple Listing Service (CVR MLS) and resource the company’s strategic plan

•

Ensure robust and proactive management of MLS technology systems

•

Support training on MLS systems to increase fluency among members

OPE R AT IO N AL E XC E L L E NC E

Ensuring streamlined processes and peak performance capability across all defined organizational functions.

GOVERNANCE — sustain comprehensive governance ensuring effective board function, compliance, and strategic alignment FINANCIAL STABILITY — maintain financial stability, regulatory compliance, and appropriate financial reserves EOS IMPLEMENTATION — run on EOS (Entrepreneurial Operating System) to encourage agility and internal alignment with our entrepreneurial membership

I N N OVAT ION A R E AS MEMBER OF THE FUTURE ENGAGEMENT GROUNDWORK Laying the essential groundwork to engage our members effectively in a rapidly evolving future

BRAND AND IDENTITY DEVELOPMENT Cultivating a strong and cohesive brand image to clearly communicate our unique value

AGILE ORGANIZATIONAL DEVELOPMENT AND MODEL Developing a flexible, adaptive organizational model to foster agility and responsiveness Strategic Funds: • Innovation Opportunity Fund — establish and capitalize a fund for investment in resources for members • Strategic Impact Fund — formalize a fund for community impact advancement

TRAINING AND KNOWLEDGE TRANSFER Harnessing institutional knowledge, modern technology, and extending capacity while reinforcing our community brand

RARealtors.com

39

MEMBER EN GAG EMENT

L EA RN IN G A N D P RO F ESSIO N A L DEVELO PMEN T

A DVO CACY A ND GOVERN M E NTA L A F FA I R S

M LS COMPANY MAN AG EMENT

O P ERATIO N A L EXCEL L EN CE

MEMB E R OF TH E F UT UR E EN GAG E M E NT GRO U N DWOR K

AGIL E ORGA N IZ ATIO N A L DEVELO PMEN T A N D MO DEL

TRA IN IN G A ND KN OW LE D G E TRA N S FE R

R BR AN D AN D I DENT I T Y D EVELO PMENT