Today we’d like to introduce you to Michael Tecci.
Michael, can you briefly walk us through your story – how you started and how you got to where you are today.
It all started with a Boston based event company I started with friends during college which taught me how to manage people, deal with multiple vendor transactions, excel in marketing/advertising/graphic design, and most importantly helped grow a vast network. I bought my first piece of cash flow investment property at 23 years old, a large 3 family that needed some work.
We used the listing agent as our agent on the buy side as well. This is called dual-agency and means he lucked out and doubled his commission. I love business and always wanted to get my real estate license. Going through what seemed like an easy transaction lit a fire under my butt. Shortly after getting my license I joined a top team where I learned the ins and outs of being a successful agent.
After learning everything I could from where I partnered with a friend who had her own brokerage to get a great commission split deal. She gave me an offer I couldn’t refuse and since I am an independent contractor anyway I figured it was worth making an extra 16% commission on my deals. I brought on a few solid agents partners and started the Tecci|Morano Team.
At the same time, my partnership with a Johnson Construction grew from small flips to new construction development projects. This relationship has been key to my success in real estate giving me greater knowledge on key components to look out for with my buyer, seller, and investor clients as well as the whole construction process such as approvals, variances, building materials, building codes, etc..
I work with savvy investors so I constantly need to be able to keep up to earn and maintain their business. Our team is has been very busy while approaching this competitive spring market. We just closed up 2 duplexes which sold as 4 condo units all for at least asking price. Wrapping up construction shortly on 2 large single family homes that I have several buyers interested in pre-market.
Just closed on a 7 condo unit subdivision land project on a beautiful marsh. Another duplex variance was just approved for a land deal we have under an agreement that we will close after the neighbor 30-day appeal timeframe. As an investor myself next goal is to invest in some of these near-future subdivision projects.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
In business, nothing ever goes smoothly and in real estate, it almost never goes according to plan. You have to be agile and quick-witted to hold all the pieces of a real estate transaction together. There are a million variables that cripple a deal. My main struggle starting out was gaining credibility and experience.
Even friends and family members were reluctant to hire me even though I go above and beyond for my clients. It’s hard getting started when no one will give you a shot. I quote myself as “not your average Realtor” and there’s a reason for it. I’ll never forget when I first started I introduced an agent to a client and got cut out of my first deal.
This subsequently leads to the next big struggle which is what a cut-throat industry this is. Business is always cutthroat but real estate is its own beast. It’s saturated with part-time agents plus everyone and their mother is a real estate agent, or at least knows the one that’s a friend of a friend of a friend.
I’ve been cut out of deals behind my back by other agents and by clients. To this day I have other brokers trying to steal my investor clients after closings. It can be very discouraging so I try my best to turn these lessons into fuel for the fire. The struggles help thicken the skin and build character.
Tecci / Morano Team – One Realty Boston – what should we know? What do you guys do best? What sets you apart from the competition?
Tecci/Morano Team – One Realty Boston specializes in selling new construction homes. Since we work with investors and builders this has become our niche. We love working with buyers and sellers as well. We go above and beyond for our clients and are not your average realtors.
Helping our clients find the next big deal is exciting. Each deal requires an extensive three-step process. Acquire the land, build, and sell. We research all on market and off-market deals to present to investors. There needs to be a large profit margin left after land and construction costs. These deals can take 6-12 months from an accepted offer on land to closing the complete construction sale. Putting all the work in to find our clients successful deals is something we are most proud of.
We invest our own money up front for the highest quality marketing and advertising materials to ensure we do best by our clients. We do all graphic design work in-house which gives us a professional image and also allows us to put together marketing material quickly.
Whether it’s online advertising material or printed flyers/mailers we make sure potential buyers are seeing our subject property at it’s best. Our professional photographer, Jennifer Willis Photography, is also a key member of my team. Photos are the first judgment of a property to buyers so we make sure we hire the best of the best.
What moment in your career do you look back most fondly on?
The proudest moment of my career was my first successful flip with an investor. He made a good start in real estate and we have developed a great relationship that is growing and growing. This lead to my first $1 Million Dollar deal.
Contact Info:
- Address: 105 Central Street Stoneham, MA 02180 Suite #1100
- Website: www.SellingMA.com
- Phone: 781-983-5657
- Email: miketecci@onerealtyboston.com
- Instagram: teccimoranoteam
- Facebook: www.facebook.com/miketeccirealtor
Image Credit:
Jennifer Willis Photography
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