Amy Wallick
2024 President, Massachusetts Association of Realtors and Realtor, Lamacchia Realty
Age: 39
Years experience:15

Amy Wallick started her real estate career in 2008 in the depths of that year’s global financial crisis when home sales were at their lowest ebb in a generation. But despite being a new agent, she said, she “just worked my way through it” relying on her passion for real estate and for helping her clients navigate the market to achieve their goals. She’s now arrived at the top of the Massachusetts Association of Realtors at what could prove to be a pivotal moment for organized real estate across America, with numerous commission lawsuits threatening to upend not only how agents are paid but whether Realtor organizations will be able to hold onto big chunks of their membership.

Q: What were your biggest takeaways from the 2023 housing market?
A: As we roll out of 2023 and into 2024, I think that at least for the first half we’re going to continue to experience that. We just do not have the level of supply that we need to meet the demand for homes. Obviously, interest rates are playing a factor in that in more than one way, not just in terms of rate increases putting off those that are buying, but also for those who maybe refinanced or who purchased with a 3 percent interest rate. They’re in a really good position with that current mortgage. So, it doesn’t give some potential sellers cause to sell right now.

Even if rates drop this year, we’re not going to see those rates the high twos into the threes, like we were seeing before. That’s just not, that’s not realistic. But the most recent inflation report just came out, and it came out more favorable than anticipated. And typically, when that happens, rates react accordingly [by trending downward]. So, we could see better loan pricing there. But I think that with time people are seeing that this rate environment is where we’re going to be at for a while. And as they become more comfortable with it, the hope is that those that were considering moving might take that next step.

Q: Is there anything you’re advising your fellow agents to do or anything that you’re doing yourself to prepare for 2024, from a business perspective?
A: Real estate is cyclical, you know. You have your ups, you have your downs. Last year, sales were down because we just didn’t have the inventory to sell. People are going to need to go back to the basics: Make sure that you are articulating your value to buyers and sellers, that you are keeping in touch with people, that you are staying on top of prospecting and really be diligent and follow up. I think that top-of-mind awareness among potential clients is going to be really important, because there are so many practitioners compared to the number of transactions. It’s going to make the competition on the agent side strong, and people are going to have to really work hard.

Q: What’s on the agenda that MAR is trying to drive forward on Beacon Hill and elsewhere this year?
A: On the legislative front two of our kind of bigger focuses are obviously housing production – trying to get more housing, that’s obviously always our primary focus – and we have a fair housing education bill that we’re working on. And the governor has rolled out her big housing legislation and we’ll be working with her on that. Overall, making housing more affordable, increasing housing production and zoning reform are all really huge focuses for us this year.

For local priorities, I can speak to my local association [North Shore Realtors]. We are very, very involved on the advocacy side at the local level. We have town monitors for each community that are keeping in touch with what’s going on with each of our municipalities, so that we can be involved, share the information with our members and try, when we can to have a seat at the table, to be able to further our initiatives.

Q: The numerous commission lawsuits across the country are still in process, but some common themes do seem to be emerging. How are you thinking about preparing for a post-lawsuit world?
A: I think it’s really hard to think of a post-lawsuit world where everything is so in flux. So really, it’s just a matter of making sure that educational opportunities are available to our members so that they can further grow as as agents, so that their business can continue and so that they can continue to be successful within this industry, regardless of how that shakes out.

Q: And given the threat the lawsuits appear to pose to Realtor organization membership, is there anything that MAR is doing to reinforce or communicate the value that it provides to agents?
A: We are certainly facing a lot of challenges within this industry. It is no secret, everyone knows that. And we as an organization are focused on providing the best member benefits and education that we can to our members, so that they can continue to persevere and to and to be successful in selling real estate. That’s, that’s like the biggest thing right now, we just want to make sure that our members are our top priority.

Q: What makes you, personally, passionate about being part of a Realtor organization?
A: I love everything that this organization stands for, the relationships that you make, the things that you learn. It’s just something that you just can’t find elsewhere. Everything that we stand for, everything that we are advocating for, is just it’s at another level and it’s not really something that you see in a lot of in a lot of industries. And this association is like a family. You can pick up the phone anytime you can call another Realtor for advice. There’s so much value to being a part of this organization that I just love, you know, and it made my leadership path kind of take on a little life of its own. And that’s really how I ended up here today.

The Five Reason Wallick Loves Being a Realtor

1. The joy of connecting clients with communities and helping them achieve their real estate goals.
2. Constantly meeting new people, I’m a social butterfly!
3. No two transactions are ever the same, which makes for an exciting career.
4. Endless opportunities for growth, there is no limit.
5. Advocating for homeownership and private property rights, making housing available for everyone.