Thank you so much for joining us! Can you tell us a story about what brought you to this specific career path?
I started in the early 1980s. Believe it or not, I had a landlord, a real estate developer who had an extraordinary car collection. I was a young kid at the time, and one day he said to me, “Hey, get your real estate license and sell some of my real estates.”
After I got licensed, I went to work for a brand new Century 21 office, but I didn’t sell a damn thing for three months. I finally got my first actual client, who was in from Manhattan and wanted to spend a half-million dollars. That’s like, 5 million dollars today. I took him to a brand new development, which had been on the market for about a week. I put a deal together that Saturday and tried to negotiate an agreement with the sales attendant on duty. She told me the marketing manager had a policy that no one could accept offers while he was not there. It was the first Saturday they launched, and he was off playing golf. Luckily, the developer-architect was in the building, and the sales associate called her and said, “There’s an agent here who won’t leave until he speaks to someone.” Half an hour later, we had a deal, and the developer asked me to call her the next day. When I did, she offered me a job. I took it on the spot. She had fired the marketing director who was out golfing and hired me to take his career. I had three full-time licensed assistants under me, and I hadn’t had a single closing yet. I sold that project out in 17 months and never looked back.
Can you share the most exciting story that happened to you since you started doing this?
Since I have started real estate, I have created so many exciting memories. What is most interesting are the relationships I have built. My clientele list is made up of the top 1% Americans: everyone from professional athletes (the Boston Red Sox, Boston Celtics, Boston Bruins), notable celebrities such as Celine Dion and Ernie Boch Jr, doctors at Massachusetts General/ Beth Israel Hospital, to CEOs and hedge-fund managers. The cumulation of all the relationships I have built has been the most exciting aspect of my career.
Which tips would you recommend to your colleagues in your industry to help them thrive and not “burn out”?
You have to love what you do. I always talk about the Ps: passion, persistence, patience, and perseverance. You better have all of those things, or you will burn out. Real Estate is a long-term game; too many agents quit too early.
None of us can achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?
Arthur Winn has been my mentor for decades; I am very thankful for all he taught me throughout my life. Mr. Winn is an entrepreneur, leader, and real estate powerhouse. He runs an award-winning national company (Winn Companies) with more than 2,600 employees and 97,000 housing units. He has owned and managed $5+ Billion of real estate. Mr. Winn is also the nation’s largest manager of affordable housing and privatized military housing,
One moment that had a lasting impact on me was when I visited some of the affordable housing communities with Arthur Winn. The residents came out to greet him, and even little kids came out to say hello to Mr. Winn. People appreciated that he treated them as human beings — as residents, not tenants. That moment helped me realize that my business model should be based on relationships and not transactions. Once I developed this mindset, my business grew tenfold.
How have you used your success to bring goodness to the world?
Growing up in the projects of Somerville, MA, I had faced a lot of adversity. I was lucky enough to benefit from some fantastic youth organizations as a kid. Many of Boston’s urban organizations helped me stay out of trouble and helped guide me to where I am today.
I have made it a focal point to give back to programs similar to the ones that helped me many years ago. I am most proud of my time as a board member of the Somerville Boys and Girls Club and my advisor role in BASE Boston. Giving back to the youth in our community is one of the many ways to thanks to those before me.
Do you have a favorite “Life Lesson Quote”? Can you share a story of how that was relevant to you in your life?
The quote “show me who your friends are, and I will show you who you are” is something I believe in and even tell my kids. It is such an important quote because of who you respect and who you want to say to you around your goals, morals, and who you aspire to be.
In the 1970s, back when I was a kid living in Somerville, our role models at the public school and in town were the punks, the drug dealers, and the wise guys. All the kids wanted to be like them. However, when I was fortunate enough to go to an all Jesuit high school down in Boston, I immediately noticed that the role models at school were the excellent students and the athletes. So in effect, because everyone wants to be accepted by their classmates and their group of friends, the kids matched that behavior. I think this shift in my environment and who my friends have changed the course of my life. So that is why I am very fond of the quote, “show me who your friends are, and I will show you who you are.”
How can our readers follow you on social media?
My Instagram is @michaelcarucci
My Facebook Page is @TheCarucciGroup
My Twitter handle is @mcarucci, and you can always reach me at [email protected] (617.901.7600)
Anything specific you’d like to have mentioned in the article?
I (Michael) am a Top 200 Broker worldwide ranked by the Wall Street Journal and Real Trends. I am regularly quoted in The New York Times, The Wall Street Journal, The Robb Report, Banker & Tradesman, The Boston Globe, and the Boston Business Journal.
I have been in the business for 30 years and have $2 Billion+ in career sales. I am the exclusive Sales Agent for the St Regis Residences in Boston and an Ambassador for the Four Seasons Hotel and Residences in Boston.
I have also been featured on NECN Television for a segment about the Boston housing market (https://www.necn.com/on-air/as-seen-on/necn_092516_twib_b_11am_necn/41376/) and have been the agent of HGTV’s Cindy Stumpo from “Tough as Nails” (https://www.bostonherald.com/2013/07/26/stakes-raised-at-belmont-estate/).
Link to one of my Wall Street Journal features about selling a 15.75 million home. “Renovated Townhouse in Boston’s Back Bay Seeks $15.75 Million” (https://www.wsj.com/articles/renovated-townhouse-in-bostons-back-bay-seeks-15-75-million-1490885292#comments_sector)
Featured in USA Today’s “Whatever happened to Tom Brady’s mansion in suburban Boston?” https://www.usatoday.com/story/sports/nfl/2021/10/01/tom-bradys-house-whatever-happened-quarterbacks-brookline-home/5944494001/
Link to one of my NY Times features
Link to my feature in the Huffington Post