LaMacchia had been negotiating with the Sears family for years as it continued to expand its business throughout New England. The deal was announced this week.
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Anthony LaMacchia announced this week that he will expand his brokerage operations throughout Massachusetts after acquiring a company owned by Kevin Sears, president of the National Association of Realtors.
After years of pursuing the business, LaMacchia Realty was welcomed into the Sears family and acquired Springfield-based Sears Realty, LaMacchia said.
“For us, it’s more territory, more market share, and closing more gaps on the map,” Lamacchia told Inman. “We are the fourth largest company in Massachusetts by total sales. There are still gaps on the map. [Springfield] It was a big gap. ”
Sears Realty was founded in 1971 by Paul Sears, father of Kevin Sears, who passed away last month at the age of 86. Sears and LaMacchia said the company has deep roots in the region, and the two companies plan to co-brand for about a year. in a transitional period.
Paul Sears founded the business during his eight-year stint as a Springfield City Councilman. Kevin Sears later joined.
LaMacchia and the Sears family had been discussing a possible merger for years, as LaMacchia Realty expanded throughout New England but noticed a gap between its offices in Worcester and Southington, Conn. Negotiations made progress last year.
“We started talking about this last summer. They went to tell their father in early September,” Lamacchia said. “They didn’t need his approval. They’re the owners. But I felt like they wanted him to accept it. They gave him his OK.”
The merger gives LaMacchia Realty a foothold in New England’s third largest market.
The sale is another monumental milestone in a whirlwind year for Mr. Sears, who took over nearly a year earlier than expected after former President Tracy Kasper abruptly resigned in January.
The early rise means Mr. Sears will head the nation’s largest industry group for nearly two full years. This rise allowed him to cross the finish line and seal the deal.
“In the fall, when I was at the 1-yard line, I couldn’t cross the goal line,” Sears said.
The situation changed on January 8, when Sears, who was NAR’s next president and was aiming to take office in November 2024, suddenly took office 10 months early.
“We would have done this at some point whether Kevin became president or not,” LaMacchia said. “But obviously, the fact that he’s the president, the fact that he’s a famous person, that makes it more appealing as well.”
LaMacchia Realty is currently home to Massachusetts Association of Realtors President Amy Warwick, MLS PIN Treasurer Ronald Rushin Jr., and Sears.
“We have some high-profile people, and that’s good for the company,” Lamacchia said. “That’s a feather in our cap.”
Mr. Sears joined his father’s securities firm in 1994, right after graduating from college. He will remain at La Macchia Realty with his brother Brian.
“Brian and I will be brokers with LaMacchia Realty. We will continue to be there and be a resource for our existing agents as well as any new agents we hire,” said Sears. said. “Anthony will be our record broker.”
Sears said the time was right to sell his family’s store.
“Anthony’s work, the way he runs the store, the education, training and support he provides to his staff was a perfect fit for us,” Sears said.
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