Almost straight out of college Richard Matricaria was swept up by Marcus & Millichap. He started out brokering sales of shopping centers in south Florida and now is the vice president and Midwest division manager here in Chicago. He initially joined Marcus & Millichap because he wanted a company that had an extensive training program and support system.
“What I didn’t realize was that even after I was trained on the basics, the firm offered training for you to grow your business at different stages,” Matricaria said.
Matricaria graduated from the University of Alabama with a degree in marketing and management then got his MBA in sports administration from St. Thomas University. He realized the sports management industry wasn’t for him and the comprehensive training and opportunity at Marcus & Millichap offered him a new path.
When Matricaria started out he was working on straight commission. During his first year, business was tough and he thought he might have to ask his parents for a loan. At the last moment a deal came through and kickstarted his steady determination.
Even now as a manager Matricaria never lost sight of what his brokers are going through. During his eight years as sales associate, he had successes and failures but most importantly learned how to hustle. Sometimes getting his foot in the door took a little creativity.
There was a client in Florida who Matricaria had called for months with no success. Then one night at a charity’s silent auction, he noticed the client had bid on a Mike Schmidt jersey. So Matricaria made sure to outbid him, and when he won the jersey he sent it to the client with his business card.
“That must have resonated with him, so he gave me a shot. He offered to buy lunch and ended up being one of my best clients,” Matricaria said.
When Matricaria switched from sales to management in 2009, he fully embraced the collaborative approach that is part of Marcus & Millichap’s philosophy. A large part of his move to the Midwest was so that he could further incorporate team building and mentorship throughout all branches of the company.
“The culture here is to pay it forward and give back. Even while I was selling I was mentoring other agents. It’s a great, and a very tangible thing, to be able to see that you’ve helped someone reach their goals and be successful,” he said.
Traditionally, most firms want to put as many brokers into the market as possible and instill a strict hierarchy. At Marcus & Millichap, Matricaria worked on developing teams around top brokers and strategically deploying them. He encouraged the practice of pairing young associates with more experienced brokers. The support system allowed younger brokers to learn pure industry knowledge from their seniors.
“Then there is this reverse mentoring going on too. The youngest among us are teaching veterans how to make their business more efficient on the tech side,” he said.
The internal technology at Marcus & Millichap is geared towards collaboration as well. A system called MNet centralizes the company’s listings nationwide. Brokers can even get a text message alert when a new listing that might be relevant for a client is added. MNet helps keep the process seamless for clients, Matricaria said. If a broker’s client wants to look at property in another market, they don’t have to go through another office or agent, they can work with who they know.
One reason Matricaria has stayed in the industry for so long, is that he loves learning something new every day—from how to structure deals, to leading a team, to helping someone become the best they can be. The very advice he teaches his brokers—to avoid taking short cuts—he tries to follow himself.
“My people are on the front lines and it can be difficult to focus on the right things. I like being that person, that confidant that helps them focus on the process and do things the right way. If you do that, the results will come,” he said.
