In The News: Brokerages Surpass Own Sales Records for 2020

In The News: Brokerages Surpass Own Sales Records for 2020 – Banker & Tradesmen, Jan, 13, 2021

Brokerages Surpass Own Sales Records for 2020

Three prominent local brokerages have announced their breaking of internal sales records during 2020, thanks in large part to the record housing market.

Lamacchia Realty and Robert Paul Properties both announced they hit $1 billion in total sales volume for the first time, while Greater Boston and Cape Cod titan Gibson Sotheby’s International Realty declared it hit a record $2.9 billion in sales.

Despite a significant year-over-year drop in real estate sales in the spring thanks to the COVID-19 pandemic, Massachusetts may well have beaten last year’s total numbers of single-family homes sold.

Year-to-date through Nov. 30, the most recent data available, there have been 55,034 single-family home sales – a 1.5 percent increase from the first eleven months of 2019, according to The Warren Group, publisher of Banker & Tradesman. Over the same time period there have been 21,644 condo sales – a 3.5 percent decrease from the first eleven months of 2019. The year-to-date statewide median single-family sale price hit $445,000 in November – an 11.3 percent increase on the same basis – while the year-to-date statewide median condo sale price hit $415,000, a 9.2 percent increase over last November’s figure.

However, new listings hitting the market in November had dropped precipitously, suggesting that December’s tallies may yet fall short of 2019’s totals.

Gibson Sotheby’s credited its success to investments in virtual marketing tools, digital sales processes and coaching sessions for its associates as the pandemic dramatically transformed the way real estate agents sold homes. The company also bought several brokerages in the last year, which dramatically increased its presence in several markets, most notably in MetroWest with its acquisition of Benoit Mizner Simon.

Likewise, Lamacchia Realty pointed to its technology tools and training programs for agents, its Offer Now iBuyer-like program and “hard work” by all within the organization. The 11-year-old company now has offices throughout Massachusetts, two satellite locations in New Hampshire and Fort Lauderdale and over 350 Realtors across five states.

“I am truly grateful to each and every member of our organization, from our Realtors – both top agents and new – to our staff, and our incredibly hard-working leadership team,” Lamacchia Realty Broker/Owner Anthony Lamacchia said in a statement. “Each and every person contributed to this milestone on our journey to be No. 1 and I want everyone to know how grateful I am for all their hard work. The hardest part about a business journey is getting things off the ground, and this is an example of that.  It took us eleven years to arrive at $1 billion in sales in a single year, but it will only take us two more to get to $2 billion. I know I speak for everyone when I say I’m more motivated than ever to continue on our mission.”

Robert Paul Properties, which focuses its work on Cape Cod and the Islands, plus offices in Greater Boston and the South Coast, said its year-over-year sales volume grew 47 percent in 2020. The 110-agent brokerage credited its focus on the luxury market, where it outsold many competitors on sales above $1 million, and with the establishment of a new office on the South Shore.

“Our agents have adapted to a challenging year by investing in new technologies and strategies and continuing to always put their clients first,” Robert Paul Properties President Emily Clark said in a statement. “We are excited for the future and working with buyers and sellers across our marketplace as we continue to grow and expand.”