Anthony Lamacchia with Lamacchia Property Management, Lamacchia Realty, and REAL Training and Systems shares how to succeed as a broker by helping your agents build strong businesses.
Anthony Lamacchia started at a ReMax brokerage in 2009, he quickly noticed that they were some of the only agents aggressively marketing. He wondered why brokers weren’t using their resources to help their agents get off the ground. Today, he focuses his brokerage around building his agent’s businesses for success.
“My brokerage is a value based brokerage, we are providing legitimate things to help people grow their business, and then once they grow them, we support them,” says Lamacchia.
In turn, Lamacchia Realty is justified in keeping more commission and using that commission to continue investing in the realtors and their growth. Work out a commission structure that works for you. If you are providing agents with leads they wouldn’t be able to afford on their own, you cannot take a typical commission split.
As of 2018, Lamacchia is accruing roughly 400 million dollars in sales per year with a goal to be at the billion mark by the end of 2021.
Lay the Ground Rules
As a broker, if you’re providing leads, set the expectation. If you want agents in the office for training, require it.
“Part of leadership is putting your foot down and keeping it down. Stay consistent so your agents always know what to expect. There is a painful period you have to go through at the beginning as people get used to the expectation, so prepare for that,” Lamacchia says.
Lamacchia also believes that if an agent is not performing on the leads you are providing, stop giving them leads. Measure your agents progress overtime, keep track and work with them in the areas they’re struggling. Lamacchia suggests you assign an admin to be the “goalie of the leads”.
Training
The more he trains his agents, the more sales Lamacchia notices his brokerage getting. There’s a weekly training that gets broken down piece by piece, so it’s easily understood and implemented. If you’re unsure where to start with training, write down the processes that have been helpful for you, step by step. When you get a lead, what do you do with it?
It’s important to also be flexible in your training, Lamacchia sometimes doesn’t know what they’re going to train on until he does an assessment of his agents to verify where they are struggling.
Grow with the Flow
Lamacchia Realty has learned to grow with their realtors. Realtors should transition off leads and build a repeat referral business. As new agents got better, Lamacchia realized he needed a system to properly transition agents from being handed leads. He worked with them more individually to help them create their own client processes that leads to more repeat business.
“The broker owners make a mistake, they talk to agents like they can’t do things. They do it on purpose and want to keep people under their thumb. No one wants to be handed leads, if it means taking orders from their broker forever,” states Lamacchia.
Don’t be afraid to rebuild. Help new agents get off the ground, but teach them quickly how to run their own businesses where they rely on their own prospecting skills. Once this group is self sufficient, you can then work on bringing more new agents in. Stay focused on growth on all levels of your business.
