Anthony Lamacchia, left, and Kevin Sears, right, pose for a photo at Lamacchia Realty's Worcester office to sign closing documents for the sale of Sears Real Estate to Lamacchia on April 7, 2024. Photo courtesy of Lamacchia Realty

The state’s largest independent residential real estate brokerage now owns the home base of National Association of Realtors President Kevin Sears.

Lamacchia Realty’s purchase of Springfield-based Sears Real Estate, announced by the company Monday, also brings its brand into the Pioneer Valley for the first time. Sears Real Estate has offices in Springfield and Agawam and lists 14 agents on its website in addition to Kevin Sears, his brother and managing broker Brian and fellow broker Dan Rodriguez. Terms of the acquisition were not disclosed.

Sears Real Estate was founded in 1971 by the Sears’ late father Paul J. Sears, a former Springfield city councilor and 2006 Massachusetts Realtor of the Year.

“I would like to say from Sears Real Estate, and more importantly from the Paul Sears family, that we are thrilled to join the Lamacchia Realty family. Sears Real Estate was founded and operated for over 50 years on not only helping buyers and sellers but more importantly being an involved and responsible member of the local community. Anthony [Lamacchia] and Lamacchia Realty live that every day,” Brian Sears said in a statement. “The Lamacchia Realty way of education and providing the necessary tools for their agents are two of the main reasons we have decided to join forces with Lamacchia Realty.”

The acquisition had been mooted for “over a year” and Paul Sears gave his blessing in the fall, Lamacchia Realty said in its announcement, but Kevin Sears’ sudden elevation to the NAR presidency in January following a blackmail attempt on ex-president Tracy Kidder “accelerated the timeline for this acquisition.” Paul Sears died in March.

“Having first met Anthony in 2010, while I was president of the Massachusetts Association of Realtors, I realized how much we had in common. We both shared a passion for our families, our clients, being involved in our communities, understanding the importance of having a solid business plan and advocating for both our industry and the clients we serve,” Kevin Sears said in a statement. “Plus, we both recognized the important role that Realtors play in helping people achieve the American Dream. I am very excited to be joining the Lamacchia Realty family and welcome them to Greater Springfield and the Pioneer Valley!”

‘Aggressive’ Growth Planned

Lamacchia plans to continue using the Sears Real Estate branding “for at least a year,” the company said, due to residents’ familiarity with it. But the company also plans to use the acquisition to “dramatically” grow its presence in the Springfield area with a television ad campaign, Massachusetts Turnpike billboards, newspaper ads, postcards and social media ads. The company had $1.78 billion in transaction volume last year across 3,500 transaction sides, according to RealTrends, making it the fourth-biggest brokerage by sales volume in the state and the biggest independent brokerage brand.

“I’m so excited to be finally entering the Springfield market by joining forces with Sears Real Estate and making them a part of Lamacchia Realty. Not only am I super excited to be working with Brian and Kevin Sears, but also Dan Rodriguez, and James Cichetti along with all the Realtors at Sears Real Estate,” Lamacchia Realty broker/owner Anthony Lamacchia said in a statement. “It is an absolute honor and is comforting to me that Paul Sears was aware of this planned acquisition and that he approved of it. I take the legacy that Paul Sears started in 1971 very seriously and I plan to carry it on so that he’s looking down proud of not only his family, but also of me in the years to come.”

The acquisition is Lamacchia’s fourth in nine months, and one of several that took place across the state in the last 18 months as smaller brokerages have struggled to deal with withered sales pipelines across the state’s many housing markets – a state of affairs market-watchers say is likely to continue this year despite an uptick in new listings. While some, like Gibson Sotheby’s International Realty, have used the deals to fill in holes in their target markets, others like Lamacchia, William Raveis Real Estate and Robert Paul Properties have used acquisitions to expand to new markets.