Above: Lamacchia Realty CEO and Broker/Owner Anthony Lamacchia
With a growing presence in six states, Lamacchia Realty is moving full speed ahead on an aggressive expansion strategy, announcing two significant acquisitions in its home state of Massachusetts.
Following the firm’s June acquisition of Cape Cod brokerage Foley Real Estate, in Falmouth, Massachusetts, Lamacchia Realty has now acquired Right Choice Real Estate in Fall River, Massachusetts, effective today. According to a press release, Right Choice Real Estate has been a leader in the Bristol County market for decades, reporting more than $100 million in annual sales volume in Massachusetts and Rhode Island for the past several years. The company has also been either the top-selling or within the top-three-selling offices in Fall River for over two decades.
According to company CEO and Broker/Owner Anthony Lamacchia, the acquisitions bring several key advantages to the eponymous brokerage.
“These are both legacy companies that have been in business for over 25 years,” Lamacchia told RISMedia. “We find that really helps in many ways. Right Choice’s sale-to-agent ratio for their office is one of the highest in the state, and it has even been ranked very high in the country back when they were with RE/MAX.”
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For much of its history, Right Choice had been a RE/MAX affiliate (RE/MAX Right Choice), joining the brand in 1997 before opting for independence again in August 2022. Founded in 1991 by brokers Ron and Dawn Rusin, the firm is strategically located in Bristol County on the Massachusetts/Rhode Island border, with reach into the Providence metro market. While Lamacchia agents have served clients in this area before, this acquisition now gives the firm an important office presence in the county.
Foley Real Estate was founded in 1970 by Jim Foley and has remained a Cape Cod-based, family-owned brokerage for decades; Foley’s daughter, Kara Foley, has helped run the company since 2010. With a prime spot on the Falmouth’s Main Street, the acquisition marks Lamacchia’s first location in the world-famous vacation town, creating an opportunity for Lamacchia Property Management to capitalize on seasonal and year-round rentals.
According to Lamacchia, the two legacy firms were drawn to Lamacchia Realty for many reasons, but primarily, “our training, marketing, systems, management structure and services that we offer agents.”
“We are excited to join forces with Lamacchia Realty; after seeing their presentation with all they have to offer in marketing, training, systems and technology, we knew it was the right fit,” said Ron Rusin.
“I know deep down that all our agents will be in good hands with Lamacchia Realty,” added Dawn Rusin. “I am completely comfortable handing over the reins to Anthony and am looking forward to working side by side with such great staff and such a great company.”
In an effort to recruit local agents and inform residents of the firm’s new presence, Lamacchia has launched a marketing campaign, from billboards to social media, throughout Bristol County. However, Lamacchia will continue using the Right Choice name in advertisements and publications for “months to come.”
The two acquisitions underscore Lamacchia’s bullish approach to expansion; “I focus 50% of my day on it,” he said. The firm’s recent expansion into Southington, Connecticut (new office opened December 2022), and Salem, New Hampshire (opened June 2023) demonstrates this strategy as well.
Why is now the time to acquire and expand?
“Sales are down market-wide by over 30%. That makes now a good time to buy and we are not missing this opportunity as it only comes every 10-15 years,” Lamacchia explained. “What does Warren Buffet say? ‘When everyone is scared, be greedy. When everyone is greedy, be scared.’ Before these last two acquisitions, the last one we closed was in the summer of 2020. In November 2020, I told our executive team that we are not buying anyone; it’s too hot and everyone is too cocky. Now our goal is one acquisition a month and it looks like we are going to achieve that for the foreseeable future.”
Lamacchia’s end goal? “To someday be the largest and best privately held brokerage in America. I will not stop until we are.”
For more information, visit https://www.lamacchiarealty.com/.