Anthony Lolli is a real estate developer and founder of the Brooklyn-based brokerage firm Rapid Realty.
Video Anthony Lolli
Youth and education
Anthony Lolli was born in New York City. His father was a teacher and his mother immigrated from Ecuador. Lolli attended John Jay High School and then went to Brooklyn-based Kingsborough College.
Maps Anthony Lolli
Real estate career
He entered the real estate industry at the age of nineteen in 1998. He founded a real estate agency, Rapid Realty, at the age of 21, at the behest of his mother's encouragement. In 2009, Rapid Realty became the first rental-based real-estate franchise system in the US. Lolli has stated that franchising became necessary for growth, because it gave top sales talent the opportunity to own their own business rather than simply managing it. He personally designed Rapid Realty's brokerage database, which features a dashboard that combines payroll management, transaction management services, and a leaderboard allowing brokers to see the volume of deals closing instantly.
In 2013 the company expanded to California and Massachusetts. By 2014 Rapid Realty had become the largest rental-based real estate brokerage in New York City. Lolli attributes the success of the company in part to the "assembly line" style sales process that he created, wherein the commission generated from a transaction is split among multiple agents who each played a different role in the deal, as well as their franchisees, and the parent company. Lolli has stated that he hires people with no previous experience, claiming that they have not yet developed any bad habits. That year Lolli implemented a policy at Rapid Realty, where sales agents who received a tattoo of the Rapid Realty logo on their person would receive a raise; a story that was picked up by several news organizations. Lolli also founded Express Real Estate School, which has trained in excess of forty thousand licensed real estate agents. He has appearances on Fox Business, where he discussed real estate industry news. In addition to his rental agency company, Lolli has owned investment properties and a vacation home in Ecuador.
Recognition
In 2013, he won Golden Bridge's Entrepreneur of the Year Award, an honor typically given to tech innovators. He is the first real estate businessperson to receive the award. He also received a Silver Stevie Award from the International Business Awards. Some have called his methods innovative, while others have found them to be controversial. New York Business Journal called Lolli a "real estate icon".
Publications
Lolli's first book, The Heart of the Deal, a memoir of his career in real estate as well as a guide to investing, was published in June 2017.
Personal life
In January 2014, Lolli became an advisor to the Brooklyn Borough President Eric Adams. The hip-hop artist 50 Cent filmed commercials for his energy drinks at the mansion home of Lolli, located in Bay Ridge, known as the "Lolli Mansion".
Philanthropy
Lolli supports the Filomeno Family Awards Foundation, Life's WORC, Toys for Tots, and the Queen Kid's Expo. He was a sponsor at Operation Warrior Wellness. In 2013, Lolli paid for a screening of The Butler for 300 senior citizens. He donated $3,000 to Christ the King Regional High School for its Cipolla-Schochet Broadcast Journalism Scholarship.
References
External links
- Anthony Lolli Interview
- Fox Business: Do Investors Overshadow Real State of Housing Market?
- Fox Business: Will 2013 Be the Year of the Real-Estate Boom?
Source of article : Wikipedia
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