Seasoned Agents Break Down the Ins and Outs of Buying and Renting in the Hamptons
Memorial Day weekend is just around the corner, a momentous time in the Hamptons each year. It marks the beginning of the high season, when those who own getaways on the East End sojourn there often and locals see many new faces: Renters.
Top agents in the Hamptons have experience with all angles of the market. So, for the Hamptons Design Guide 2022, the editors of HC&G tapped real estate experts to share their thoughts on buying and renting in the affluent coastal area right now.
“Many seasonal brokers don’t want to deal with rentals because there’s a lot of back and forth. But it’s important (for brokers) to do rentals, too, because it can lead to so many other possibilities. – Dana Trotter, Sotheby’s International Realty
“As far as investment is concerned, you don’t want to be the most expensive house on the block. Buy something that you can add value to over time, and always be thinking about resale.” – Martha Gundersen, Douglas Elliman Real Estate
“Both the sales market and the rental market are challenging and competitive. Some potential buyers are exasperated by low inventory and might gravitate toward renting, whereas renters who can’t find something they like are opening up to the idea of purchasing – RC Atlee, Compass
“A broker with a lot of experience is key to guiding you to a sale. Most new agents in the business don’t have enough experience troubleshooting.” – Dana Trotter, Sotheby’s International Realty
“A lot of the deals we’re doing now, both sales and rentals, are for properties that haven’t even hit the market. There’s so little inventory, we’re practically knocking on doors to find more. – Ryan Jacka, Sotheby’s International Realty
“We’re still in a seller’s market, and there’s not enough inventory, so you need to move quickly and be aggressive. The luxury of time is not on your side . ” – Denise Wider, Douglas Elliman Real Estate