April 9, 2009

"Things are moving!" Every time I see a member I ask, "How's business?" Recently, the response has been encouraging. Members are scheduling more showings, writing contracts, and going to settlement. On Friday, April 3, the Government Affairs Committee conveyed to local legislators the message about the value and importance of real estate to the local economy. Yes, we even explained the term "short sale" to elected officials who did not know what a short sale is in real estate!

Did you know that in our state of Delaware in 2007 the real estate industry accounted for 15.5% of gross state product?

When a home is sold in Delaware:

	Income generated for related industries is $21,024
	Additional expenditures on consumer items is $5,331
	The sale generates an economic multiplier impact that translates to dollars spent in local restaurants, sports games, etc. to the amount of $12,650
	The sale generates new home production which translates to $29,200 for each home
	The total income derived from the sale of a home in Delaware is $68,205

This clearly indicates how important your contribution is to the local economy. Clearly, when you are not making money, neither do so many supported businesses. Now, this may not help your wallet but it makes your position stronger and demonstrates the significance of what you accomplish.