Above, Lori Penney
A graduate of the University of Massachusetts with a degree in international marketing, Lori Penney is a born entrepreneur, with more than 10 years of business success to her credit before she set her sights on real estate in 2008.
She was also early to see the value in teaming, and in 2010, she created Team Blue, so named because it’s her favorite color and easy to replicate in team hats, shirts, and more.
There were three on board, including Lori’s husband, when Team Blue joined ERA Key Realty in 2018. Today the team has snowballed to include their 19-year-old daughter as well as four other agents with a wealth of diverse business experience.
A force to be reckoned with in the Greater Boston and Southern New Hampshire real estate markets, Team Blue was recently named the top team in all of ERA Realty and the top team for ERA KEY for the seventh consecutive year, receiving the company’s Leaders’ Circle Award honoring agents who have sold at least 65 units or at least $10 million in volume.
Barbara Pronin: Congratulations on these recent awards, Lori. What do you think is the something special that makes your group a winning team?
Lori Penney: Mostly, I think it is the wealth of experience we bring to every phase of the business, from local market knowledge to marketing innovation to negotiation skills—and, as any one of our clients can confirm, our commitment to exceptional service.
BP: How would you describe your team culture?
LP: We are like one big family here at Team Blue. The fact that three of us really are family is beside the point. We all love to hang out and have fun—and we all have the same objective: to help every client realize their goal.
BP: How do you stay organized, and inspire growth?
LP: We’re in touch all the time, but we meet formally every other Monday. We love the success strategies of real estate coach Tom Ferry, like setting up friendly sales and listings competition. So, we always have contests, where the top performers get gift cards as prizes, and the weekly prizes build up to grand prizes. It’s fun, it keeps us all on our toes, but most of all the competition keeps us accountable.
BP: Are you open to expanding your team, Lori, and if so, what do you look for in hiring?
LP: We are currently eight agents with two busy administrators, but we will always be open to the right people—people who will fit into our strict work ethic and our culture of family-friendly competition. I never pigeonhole people as buyer or seller agents Everyone has free rein. My role, and my joy, is to let them do their thing and help them grow.
BP: Tell us something about the markets you serve.
LP: We are located just 18 miles from Boston, and we serve all the city’s suburbs here and into southern New Hampshire. Most of these areas offer great school districts and a short commute to the city, so they are very attractive to Boston professionals with families. We handle mostly the upscale market, including new construction, and relocation.
BP: What would you say is the average sale price?
LP: About $1.6 million in the most desirable areas. Of course, the farther from Boston, the lower the price. Some very nice homes can be found further out for maybe $650- or $675 thousand.
BP: And what are your team goals for 2025?
LP: It’s hard to say how the year will play out, but I can tell you this: In 2024, we did $44 million in sales. But in a recent snapshot, we posted $3.5 million just in February of this year, so that is an encouraging beginning.
BP: And how do you like to give back to the communities you serve?
LP: Oh, my! We like to do Kentucky Derby Parties for past clients, and we give to support autism and Alzheimer’s research. We also participate every year in the Run to Home Base. That’s a run in Boston sponsored by the Red Sox Foundation. A lot of runners end their races by crossing home base at the stadium. The event raises millions every year for veterans and their families, and we love to be a part of that.
BP: And finally, Lori, what advice would you have for team leaders just starting out?
LP: Every team has its own structure and its own personality, but it starts with a leader who wants every team member to shine in their own way and provides them with the resources for doing so. The Tom Ferry strategies helped us find a niche, establish our style, and constantly set new targets. There is a lot of great sales strategy out there. You have to find what works for you.
Team Blue Listing
39 High Street
Wilmington, Massachusetts
4 Bedrooms
3 Baths
3,081 square feet
Listing price: $1,100,000
From the listing description: Step into luxury and versatility with this exquisitely updated home that includes a separate in-law suite each boasting its own charming farmer’s porch. No detail was overlooked in recent renovations, featuring 2 stunning full kitchen remodels, new central air system added 2020, new heating system 2021, all new windows, doors, and siding completed 2022 and more. The main kitchen impresses with beautiful cabinets, a custom-built island and a stylish coffee bar. Relax by the stone fireplace in the cozy living room or enjoy the master suite with a walk-in closet and Juliet balcony. The in-law suite offers modern comforts with a bedroom, a full bathroom, laundry hookups and a private entrance. Set on over an acre, the property promotes outdoor enjoyment with a fenced-in backyard, back deck, and raised patio. Conveniently located close to schools, train station and I-93, this home is an ideal choice for those seeking a lifestyle of comfort and convenience. Also listed as Multi-Family MLS.
To see the full listing, click here.
To contact Lori Penney, email teamblue@erakey.com.