DAN'S PAPERS, August 14, 2009 Page 45 www.danshamptons.com
AProtocol for Agents, Buyers, Sellers, Renters By Susan M. Galardi It’s August. A typically slow month to end a lazy real estate season on the East End. Many agents take August off, and many of them need it—this year more than ever. By all reports, whether statistical or anecdotal, this has been an unusually tough season for agents. Their typical stresses and challenges increased exponentially. Any who are still standing will tell you that they worked 10 times as hard for a fraction of the results. For those reading this and thinking, “They’re just doing what we pay them 6% commission to do,” read on. You’re just the audience I’m after. Firstly, the agent sees only a fraction of that 6%. There was a great song by The Kinks called “The Money-Go-Round,” that went: “Robert owes half to Grenville Who in turn gave half to Larry Who adored my instrumentals And so he gave half to a foreign publisher She took half the money that was earned in some far distant land Gave back half to Larry and I end up with half of goodness knows what.” That’s basically how the divvying up of the 6% goes for an agent. Yes, I’m making the argument that good agents deserve every dollar they make. And so far this year, those who earned money did so by knowing their inventory and the market inside and out, following trends diligently, and having the patience of Job. But things are looking up. Wall Street/big bank bonuses are back, thanks in part to that bailout
money. (Who knew it was designed to bail out East End real estate?) There are new housing starts, asking prices are stabilizing, and sales are inching up. There are rumblings that the bottom has been reached. So the fall promises to be a return to activity in the real estate market, and activity on the street is beginning to bear that out. Considering the agents have just come out of a period akin to a tour of duty on the front lines, now is the time to establish guidelines for agents and brokers to work together most productively. This week, the first installment of Susan Galardi’s Complete Book of Real Estate Etiquette is from the agent’s POV, as it pertains to customers—e.g., those looking to buy or rent. Later, the column will explore that topic in reference to clients—those looking to sell or rent their own houses; and then the same relationships from the other side. 1. Be considerate of the agent’s time. A typical outing with an agent involves getting access/approval from other agents or owners/renters, coordinating with listing agents’
schedules and getting keys. Patrick McLaughlin, manager of the Prudential Douglas Elliman Sag Harbor office, said, “Sometimes on a weekend, I have to schedule appointments down to the minute, especially if I have a few customers that day,” he said. “If a customer is late, it could throw everyone off.” 2. Be loyal. Working with more than one agent spins everyone’s wheels (including your own). While we don’t have MLS on the East End, ALL listings, even exclusives, are co-brokered. “Any agent can show you a listing from any company,” said Beth Troy of Town & Country in Bridgehampton. “Developing a one to one relationship allows the agent to really focus on a customer’s likes and dislikes.” 3. Trust your agent. A good agent’s goal is to find the right property for you. One agent I spoke with, who asked to remain nameless, said the worst situation is the customer who feels the need to do excessive research on his own, either because he feels the agent isn’t being thorough or has ulterior motives. “Sometimes, on a Saturday morning, two hours before a meeting, I’ll get an email from the customer with 20 listings they found online,” he said. “Most are either outdated, or I’ve seen them and know they aren’t right for that customer.” But Troy said it’s helpful, at the beginning, if customers send several listings. “It gives me a sense of what they’re looking for,” she said. 4. Be specific. This applies to neighborhoods (continued on next page)
EVERYTHING OVER A MILLION Sales Between 06/13/2009 The most reliable source for real estate information
BRIDGEHAMPTON
SHELTER ISLAND
Regina & Kevin Sheridan to Susan & Richard Willis, 81 Hildreth Avenue, 1,500,000
Estate of Doris H Kelly to Anne C Taranto Trust, 92 Gardiners Bay Drive 1,835,000
Susan W McGee, 311 Kings Point Road LLC, 311 Kings Point Road, 2,000,000
Richard Lecausi to Rachel & Jason Adler, 46 White Oak Lane, 1,490,000
Jean & Celine El Khoury-Andrew Lucas Van Praag-10 Noelles Lane, 1,750,000
26 Underhill Drive LLC to Robert & Carol Costello, 26 Underhill Dr, 1,265,000
William David Tobin to Anthony Falk, 110 Bull Path, 1,670,000
Lee Appleton to Jennifer Failla, 84 Cedar Avenue, 1,237,500
EAST HAMPTON
Now w Available! Accurate, up-to-date, affordable, on-line information about all real estate transactions in your community. Our weekly reports contain: > All Residential and Commercial closed sales in your area
RKS Hill LLC to Diane Moss, 31 South Hill Street, 6,875,000
Joel Neil Mendel Kissin Trust to Elizabeth Anne Frowein, 50 Middle Ln, 11,740,000
Jay Furman to White Sand Beach LLC,15 Halsey Farm Drive, 6,000,000
Jorge O Mariscal to Henchie Holdings LLC, 26 Beech Street, 1,400,000
Joanne Gouveia to Soteroulla Despotis to 55405 County Rd 48, 1,675,000
Arnold P Ferolito Trust to Walrus Properties LLC, 1559 Millstone Road. 2,175,000
Juliet C Glennon to Paul & Vizcarrondo, 61 Westminster Road, 3,800,000
MONTAUK NOYACK
SAGAPONACK
Janet & Dennis S Page to Larry 31 LLC, 31 Lawrence Court, 3,200,000
WATER MILL
Marvin Numeroff to 343 Dune LLC, 343 Dune Road, 4,600,000
John Sughrue to H Debra Jaliman, 139 Seascape Lane, 3,050,000
Celeste Cheatham to JMJD LLC, 127 Dune Road, 3,550,000
Of Not Quite A Million During This PeriodV AMAGANSETT
PECONIC
Dominick J Quitadamo to Cynthia J Pavia, 3 Atlantic Drive, 800,000
Richard Reilly to Vito & Carla Santarsieri, 5690 Indian Neck Lane, 590,000
EAST HAMPTON
Heater Trust to Kathleen & Cyrille Briancon, 6130 Indian Neck Lane, 690,000
RIVERHEAD Riverhead Sound Assoc LLC to Ralph Palamidessi, 475 Stonecrop Rd, 559,900
2 Winward Road LLC to Alastair Blackwell, 2 Windward, 600,000
SHELTER ISLAND
New Sunshine Realty Ltd to Marc Mathews, 264 Abrahams Path, 685,000
Nancy & Lawrence Staebler to Joan Mlicko, 2 Sandpiper Road, 995,000
Winifred B Meddaugh to Virginia & Thomas Hessler, 26 McGuirk Street, 950,000
EAST QUOGUE Jacqueline Krentzel to Matthew Setzer, 7 Friese Drive, 500,000
GREENPORT DKS Limited Partnership to Dorothy M & Charles D Reid, 160 5th St #30F, 690,000
SOUTHAMPTON Michael H Ahearn (Referee) to US Bank, 52 Country Club Drive, 655,016
WADING RIVER Theresa Motroni to Mel Greifinger, 42 Beach Club Lane, 530,000
WESTHAMPTON
HAMPTON BAYS
Paul & Gail A Garber to Susan Wasserstein, 97 Samantha Circle, 530,000
Margaret A & Anthony Veziris to Kim Mogul, 15 Foxboro Road., 700,000
Sandra & Jerome Rich to 3321 Whitney LLC, 37 North Quarter Road, 800,000
Visit us at: www.LIRealEstateReport.com
Joan & Dermot Murphy to Anne Marie Anzalone, 3 Bittersweet South, 505,000
For more info, call: 631-539-7919
Joseph H Dittrich to Laurie Spampinato, 2435 Marlene Lane, 516,000
1143168
WATER MILL
461 Parsonage Ln LLC to Trust Agreement No C, 3-461 Parsonage Ln, 11,950,000
Susan M & Stephen Breitenbach to Anita Sosne, 2316 Main Street, 675,000
The most comprehensive reporting methods available, delivered right to your inbox every week.
SOUTHOLD
Wainscott Harbor Rd LLC to David Danovitch, 425 Wainscott Harbor Rd, 1,600,000
BRIDGEHAMPTON
> The most up-to-date information available
SOUTHAMPTON
Kenneth M Seidell to American Home Mortgage, 30 Montauk Ave, 1,071,438
VSales
> A weekly list of mortgage Lis Pendens filings
and 7/30/2009
MATTITUCK
Data Provided by Long Island Real Estate Report