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In the last month, the Northeast and Florida-based Lamacchia Realty has made two strategic acquisitions in the state of Massachusetts, with Right Choice Real Estate in Bristol County and Foley Real Estate in Cape Cod, as the brokerage works to bolster its presence in southeastern Massachusetts and Rhode Island.
“We’re very excited to have these acquisitions,” Anthony Lamacchia, CEO and broker/owner of Lamacchia Realty, told Inman. “These two in particular are legacy companies that have been around a long time. They’re certainly well-known leaders and well-known companies in their specific regions.
“And the fact is, even though we do more marketing than any other brokerage that I know of anywhere, even if I did all of the marketing into the market, it doesn’t compare to being able to join forces and take off in a market with partners like these.”
Lamacchia Realty’s move into Bristol County was made official on Tuesday with the acquisition of Right Choice Real Estate, founded by broker-owners Ron and Dawn Rusin more than 25 years ago, according to a statement from Lamacchia Realty.
The acquisition marks the largest Lamacchia has closed to date in terms of the agent sales power it will bring to the brokerage. Right Choice Real Estate closed an average of $100 million in annual sales volume over the last several years and the Rusins brought 28 agents with them over from Right Choice Real Estate.
“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,” Ron Rusin said in a statement. “In 2022, Lamacchia Realty was No. 5 for units sold in Massachusetts and closed over $1.7 billion in real estate with over 500 agents. I realized for us and our agents, this is the office of the future. Right Choice has been my baby for over 30 years, and I am looking forward to seeing Anthony and his team grow this into the No. 1 office in Bristol County.”
Ron Rusin started his first brokerage, Ron Rusin Real Estate, in 1991. A few years later, he decided to franchise with RE/MAX and created RE/MAX Right Choice. The couple decided to go back to having an independent brokerage in 2022 when they changed their name to Right Choice Real Estate.
Over the course of his career, Ron Rusin has earned a number of industry awards, including the Massachusetts Association of Realtors (MAR) Realtor of the Year award in 2004, the MAR Private Property Rights award in 2023 and the Milton Shaw Award (an MAR award for service) in 2021, among others.
The combined brokerages will now operate out of Right Choice Real Estate’s existing office at 101 Presidents Ave. in Fall River.
At the end of June, Lamacchia Realty also announced its acquisition of Falmouth, Cape Cod-based brokerage Foley Real Estate and Foley Premier Properties. The move marked a big step forward for Lamacchia Realty, since the brokerage had previously only been able to operate in Cape Cod under a limited capacity, referring most of its business to outside brokerages.
Foley Real Estate has been in operation by the Foley family since 1970 when Jim Foley opened the company’s doors. In 2010, Jim’s daughter, Kara Foley, took over the brokerage’s operations and has been running it as managing partner since then. Prior to joining the family business, Kara gained nearly a decade of experience on Wall Street working in hedge fund international marketing and investment banking.
“We’ve done some incredible things over my time at this company, even beyond real estate,” Jim Foley, founder of Foley Real Estate, said in a statement. “We’ve sponsored little league teams and hosted charity haunted houses and those are some of my fondest memories. It has gotten to the time where I am ready to pass the baton to someone I know will honor the company’s legacy — and that person is Anthony Lamacchia.”
In addition to its residential sales business, Foley Real Estate also has a robust vacation rental business that started up in the ’70s a few years after launching the brokerage. The company now has over 130 seasonal rentals available, which Lamacchia Realty will manage going forward through the Lamacchia Property Management company.
“I knew pretty quickly when I met Anthony and his team that our business synergies would be great,” Kara Foley said in a statement. “Once I saw the genuine mutual respect between Anthony and my father, Jim Foley, I knew we found the perfect fit.”
Eight real estate agents and one staff member from Foley Real Estate will join Lamacchia Realty with the acquisition. Lamacchia also anticipates several of its existing agents local to Falmouth will join the new Cape Cod office.
Lamacchia Realty is licensed across Massachusetts, Rhode Island, New Hampshire, Maine, Connecticut and Florida and also serves clients with international needs through its membership in Leading Real Estate Companies of the World. The brokerage also recently expanded into Salem, New Hampshire; and Southington, Connecticut.