There are no more half measures at Lamacchia Realty, which has offices in the Northeast and Florida. Now in effect is a new Commitment to Success agreement that is a requirement for all new and newer licensed agents who join. It was announced by Chief Operating Officer Jackie Louh at the monthly companywide updates meeting in August.
The agreement outlines what the expectations are for new(er) licensees who join the firm.
“It’s a commitment to putting in the time and effort to be successful in this business,” Louh told RISMedia. “And by that I mean attending a certain amount of training per month and coming into the office and working here instead of from home. Also, meeting with success guides who are mentors for our agents, and committing to this as a full-time career, not just doing it part-time.”
Anthony Lamacchia, broker/owner of the company, further explained that the strategy is necessary due to the real estate market tightening, with home sales slowing and mortgage interest rates rising.
“As the market turns the page into a new era, we too as a company are doing the same,” he says. “We have to tighten our expectations of new agents’ commitment who are joining, as the easy years of a market upswing are behind us. Those that get in now need to be ready to work harder. As long as they are willing to do that, we are willing to continue to do all we can to guide them to their success as our mission statement proclaims.
“Agents must be willing to agree to these terms in order to stay with the company. This will initially lower our agent count but that’s not a concern.”
Lamacchia’s Commitment to Success is also required from existing agents who joined in the last two years and haven’t had more than a few sales.
Covid-19 has affected Lamacchia’s business, as it has for many other brokerages as well.
“What we found was that during Covid-19 a lot of people who lost their jobs decided to give real estate a try,” says Louh. “Now that jobs are coming back some are putting real estate on the back burner and going for other full-time positions and not focusing on real estate.
“Obviously we’re in a market shift across the country and it’s a difficult time for new agents to be successful. It’s harder for seasoned agents too. You have to be committed and give it your all.”
Lamacchia has a very specific formula for new agents that has worked for several years. It’s a combination of training, leads, support, services, technology and more. “We have raised the bar with this new requirement, and we are excited about it,” says Louh. “Those who agree and work hard will be successful. Our training systems are nationally known, recognized and purchased by many companies across North America. It’s here for our agents but they have to follow it for it to work.”
For more information, see the full announcement on their site here.