This veteran real estate agent with a legal and luxury background is growing the Agency brand in Massachusetts.
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Coming from a family of real estate professionals, including a father, Vince, and twin brother, Aubrey, who work in the commercial space, Michael Cannuscio has taken an unconventional approach to real estate, including a focus on corporate law, real estate investing and development.
During his career, Cannuscio has mentored hundreds of agents, guiding them in growing their businesses and helping them learn how to navigate a business to a successful conclusion. “This experience allows me to guide strategies and support my colleagues in developing successful residential businesses,” he said.
Find out how this RE/MAX and Sotheby’s International Real Estate veteran is growing the Agency brand in Massachusetts.
Name: Michael Cannuscio
Title: Managing partner
Experience: 23 years
Location: Marblehead, Massachusetts
Brokerage name: Agency Marblehead
Group size: 10
How did you get started in real estate?
I grew up in real estate. My father, Vince, was a “kitchen salesman” on Long Island, New York, making deals over the home phone. He had no colleagues. Just alone.
I would listen to him talk on the phone and visit buildings with him as a child. He was also a single-family home builder and inspector. Some of my favorite memories were going to construction sites with him and being able to clean the sites and paint the interior.
I considered becoming a real estate agent straight out of college but took a path to law school and a career in law before starting my first brokerage.
How did you choose your brokerage?
I chose the Agency because I focus on many organizations and businesses and I respect those who are not afraid to disrupt industries. I have watched the amazing work done by Mauricio Umansky and his colleagues over the last decade growing the brand and network of partner offices around the world and I knew I wanted to be a part of it.
What do you know now that you wish you knew when you started?
Before entering the industry, I viewed other real estate professionals as only my competitors. I didn’t realize the importance of building relationships with partners and the need to work together to collaborate and navigate obstacles in sales to reach both sides of the work line.
Tell us about a high point in your sales career
Six years ago, my business partner and I merged our Sutu company with a local private company. The two brokerages were similar in size both in terms of number of agents and sales volume. The two organizations, however, were very different in terms of culture and the way they were both run.
While the initial post-merger transition was difficult, my five partners and I were able to navigate the challenges to create a thriving new company that became the leading brush in the two main markets we serve.
Tell us about the most epic failure you’ve experienced since becoming a marketer
When I was a newly minted realtor 20+ years ago, I was given the opportunity to list a very unique, architectural style, home for a friend who was flipping a property. I knew the property might have a higher price but I was more than happy to market the home.
I thought I had achieved success by finding this fabulous list. I spent thousands of dollars placing ads in local newspapers and magazines to market this home, but it never sold. The listing expired and another seller took the listing and eventually sold it for a much lower price than my original listing price.
From this experience, I learned the importance of pricing structures correctly, setting reasonable expectations for customers and being direct with customers about the need to reduce the price when the market gives a response.
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