“It wasn’t an official event,” Lamacchia emphasized. “It was a friend-of-a-friend connection. But when the chance to talk to the president comes, you don’t say no.”
Lamacchia’s briefing
Among 21 leaders across various business sectors, Lamacchia stood out as the sole voice for the real estate brokerage industry, although he noted that there were homebuilders and developers in the audience. He took that responsibility seriously.
“He [Trump] didn’t just yes me. He dug in,” Lamacchia recalled. Trump was particularly animated when learning that his administration’s DOJ settlement with NAR had been reversed under Biden. “His eyes widened,” Lamacchia said. “He was visibly frustrated.”
Trump requested a follow-up. “Get me that information by tomorrow night,” he told Lamacchia. True to his word, Lamacchia sent a concise summary through intermediaries.
While he hasn’t heard back, he remains hopeful. “If I made any dent — if my email made it to a to-do pile — I’ll consider it worthwhile.”
Transparent system?
Lamacchia didn’t hold back on what he sees as the devastating fallout of the DOJ’s reversal of the original settlement with NAR and subsequent lawsuits.
“Judicially sanctioned extortion,” he called it, referencing the large payouts going to plaintiffs’ attorneys. “Buyers aren’t paying commissions out of pocket. Sellers are still paying them. The system’s less transparent and yet, somehow, commissions are going up.”
Indeed, according to Lamacchia, most agents report that commissions have either remained the same or increased post-settlement. “I’m seeing it in closing statements and hearing it from title companies,” he noted. “Because now, every deal is a negotiation. Agents are having those conversations and pushing for more.”
While 58.8% of agents in HousingWire’s recent commission survey said that buy-side commissions remained the same, nearly 12% reported increases. On the sell side, more than 20% saw commission increases, contradicting the narrative that the settlement would reduce consumer costs.
In addition, a recent survey from Clever Real Estate that polled 806 real estate agents across the country on commission rates and dollar amounts found that the average rate is currently about 5.44% — with the listing agent getting 2.77% and the buyer’s agent getting 2.67%.
Critics might raise eyebrows at Lamacchia’s meeting with Trump, but he’s quick to neutralize any political assumptions. “I would’ve met with President Biden, Obama, any of them,” he said. “I’ve met with more Democrats than Republicans over my career.”
For Lamacchia, it’s not about politics — it’s about protecting an industry. “Our system isn’t perfect, but it works,” he said. “Consumers keep using agents. Our lead flow never dipped, even during the height of the lawsuit media frenzy. That says something.”
Interest rates and market recovery
On the macroeconomic front, Lamacchia remains cautiously optimistic.
“We’re addicted to interest rates,” he said. “And they are coming down gradually.” He praised Trump’s economic stance on pressuring the Federal Reserve but added nuance. “I didn’t love him calling Powell ‘dumb,’ but the pressure is warranted. The data lags, and Powell’s behind.”
Lamacchia forecasts a real estate rebound beginning in the fall and accelerating through 2026. “This is the pivot year,” he declared. “By 2027, I think we’ll be back to a normalized level of home sales.”
Whether he hears back from the president or not, Lamacchia’s mission is clear. “I want to protect a good industry that’s been unfairly targeted,” he said. “And if I can advocate at the highest levels to make a difference, even just a small one, I’ll keep doing it.”
As the real estate industry braces for ongoing regulatory shifts, it’s voices like Lamacchia’s — unfiltered, informed and unafraid — that are likely to shape its direction.
