Real Estate 2024: LAURA D. LAFAYETTE

Between her leadership positions with the Richmond Association of Realtors and the Central Virginia Regional Multiple Listing Service, Lafayette serves more than 6,800 Realtors in Central Virginia.

This year, she’s become an even more powerful voice in the Richmond real estate community in the wake of a landmark court settlement that’s changing how homeowners buy and sell homes.

The National Association of Realtors this year agreed to settle a $418 million lawsuit that it conspired to keep Realtors’ compensation artificially high. As a result, agents’ standard 6% commissions are expected to fall dramatically; sellers likely will save money, but buyers are expected to pay more out of pocket, creating challenges for first-time home buyers. High interest rates and prices, leading to a lack of housing stock, also has added additional hurdles to home ownership.

Lafayette continues to advocate for affordable housing through her work on the board of the Partnership for Housing Affordability, where she was previously executive director. She also is on the board of trustees for Virginia Diocesan Homes.

A William & Mary graduate, Lafayette did postgraduate work at Yale Divinity School and the University of Virginia.