John Manocchio is a real estate adviser with HomeSmart Real Estate Professionals in Smithfield. He is also the team founder and director of the Make Your Move Group. Manocchio was born and raised in Johnston and graduated from the University of Rhode Island before joining the real estate industry in 2012.
PBN: What has your career in real estate been like so far with HomeSmart and Make Your Move Group?
MANOCCHIO: I’m approaching my 13th year in real estate this January, and although there have been highs and lows along the way, I can honestly say I’ve enjoyed every second. I became a licensed Realtor in Rhode Island right after graduating from the University of Rhode Island with a degree in political science and campaign management. My initial goal was to pursue a career in politics, but through trial and error, I quickly realized my heart was no longer in what I had spent my life preparing for.
At just 21 years old, I stepped into the world of real estate, and I’ve never looked back. Since then, I’ve been privileged to serve over 300 buyers and sellers from all walks of life, each seeking expert guidance through one of the biggest transitions of their lives. Working with HomeSmart Professionals has given me access to innovative tools and a supportive team, allowing me to provide exceptional service and build lasting relationships with my clients. Every client, and every transaction, has brought unique challenges and rewards, and it’s incredibly fulfilling to be a trusted adviser in this milestone decision-making process.
PBN: What are some of the biggest challenges for you and your firm right now?
MANOCCHIO: When I started my career, the median price of a home in Rhode Island was around $195,000. Today, it’s hovering closer to $480,000. On top of that, available inventory has shrunk from roughly 7,000 homes statewide to around 1,100.
Like most Realtors, I find that the greatest challenges buyers face today are affordability and lack of inventory. Securing a home often means facing fierce competition, with multiple offers, bidding above the asking price, waiving contingencies and, in some cases, making concessions to meet the seller’s terms.
For sellers, while it’s been a favorable market over the past several years, we’re beginning to see a gradual shift toward more balance. Rising inventory and slightly lower mortgage rates may help ease the pressure on buyers, but it’s still a challenging market. Helping clients navigate this environment requires staying on top of changing trends and adapting strategies to give them the best possible outcomes.
PBN: What are your best tips to prospective home sellers in this market in the Rhode Island and southeastern Massachusetts area?
MANOCCHIO: Contemplate your goals and make sure your decision to buy or sell is based on timing that works for you. Many clients ask me whether they should “wait to buy” or “wait to sell,” but I always advise timing your move according to your personal goals rather than trying to time the market. If you need more space now, start looking now. If you’re ready to downsize, begin exploring your options. Market trends can be unpredictable – buyers who waited for prices to drop in 2021 are now paying around 20% more than they would have back then.
For sellers, we’re starting to see prices level out and inventory gradually increase. We may have hit the peak, and it’s a good time to list if you’re looking to maximize your return. My advice is to move when it aligns with your goals and personal needs, rather than holding off for changes you can’t control.
PBN: Why is it so important that a home seller finds a reputable real estate agent to list their property in an age where some online outfits offer more of a self-serve approach?
MANOCCHIO: Real estate technology has come a long way. Buyers and sellers now have an incredible amount of information available at their fingertips, but this doesn’t replace the value of a seasoned, local real estate professional.
Buying or selling a property is often one of the biggest financial decisions a person will make and can be a very personal journey. It’s not just about finding or listing a property; it’s about understanding the nuances of neighborhoods, crafting competitive offers, managing inspections and coordinating the many professionals involved in the transaction.
A good real estate agent does much more than list a home online. They offer guidance, handle negotiations and advocate for their client’s best interests throughout the entire process. A local, experienced agent brings insight and expertise that simply can’t be replaced by self-serve options, ensuring that buyers and sellers are fully supported from start to finish.
PBN: What do you think about the National Association of Realtors settlement earlier this year over commission rules and how it has impacted the way Realtors now do business?
MANOCCHIO: This industry is constantly evolving to better serve clients, and the recent settlement reflects a shift toward greater transparency in how real estate agents are compensated. By opening up discussions around agent fees, it gives clients a clearer understanding of each agent’s responsibilities and how those relate to the value they provide. With this transparency, buyers and sellers can make more-informed decisions about the services they receive and how they’re compensated, fostering a stronger sense of trust and accountability between agents and their clients.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
