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Anthony Lamacchia was running the most successful team in Massachusetts and had been the top Realtor in the state for years — a position most people in real estate would envy. But he still wasn’t satisfied because he saw that his growth was limited by the relatively high level of agent turnover on teams.
“Agents who are on teams tend to stay on teams for two to three years,” Lamacchia explained, “and I knew a few years in that I’d never be able to build the monster I wanted to under that setup.”
Some team leaders don’t necessarily see that agent leakage as a problem; after all, there are always more real estate agents to hire. But Lamacchia realized that those agents leaving after two to three years were taking their training, their experience — and their books of business — elsewhere. He wasn’t simply losing agents. He was losing resources and leverage, too.
So Lamacchia shifted his business from team to brokerage in order to retain those more experienced agents and entice other top producers (who’d never consider leaving their current brokerage to work on a team) to join Lamacchia Realty. He’ll talk about the specifics of what he did, why he did it and how it worked at “How I Went from Team to Brokerage” at Inman Connect San Francisco, July 17 through 20 at the Hilton San Francisco Union Square.
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“Agent turnover is a huge problem for team leaders across the country,” Lamacchia contends. “People learn the business, then say, ‘Wait a second — I don’t want to be here.’ As soon as agents start doing business, competitors start picking at them.”
To build a pick-proof brokerage, Lamacchia had to rethink some tactics and strategies that had become entrenched. One of them involved his marketing — he’d been touting his no. 1 status in advertisements for years, but he didn’t want agents to think that their broker was competing with them.
Another involved his training program, which is so robust and in-depth that real estate professionals at other companies are signing up to access it. “We’re teaching agents how to go about obtaining and converting business and giving them a step-by-step playbook for how to do it,” he said.
Lamacchia will share his story about how he identified and solved his biggest real estate growth problem only at Inman Connect San Francisco.
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