Billy Joel's new digs - right next door to his most recent purchase on Gibson Lane in Sagaponack. Maybe he's planning a compound?

I learned something. Old, old deeds going way back for vacant properties, even though on the Suffolk County Tax Map have no metes and bound descriptions needed for surveyors! They went something like from the old elm, forty steps to the right, past the boulder, etc. etc. So if someone with deep east end roots sells such a vacant property, the surveyor has to survey almost everything abutting the area and start from scratch.

More on co-exclusives!

A kindly and knowledgeable administrative assistant for one of the bigger outfits, who is not sure she can be a spokesperson, delivered these insights to the co-exclusive discussion. It is amazing how much good stuff we get with people reluctant to have the material attributed. I don't think this phenomenon is modest driven. In any case, here it is.

"As long as you have the 2 agents from the different companies "working" together and communicating on a daily basis, I think it's okay to do a co-exclusive but only if it's done with the communication lines open. This way, the week one company doesn't advertise or whatever, the other one does. It gives both companies the 'chance' to sell it."

She continues, "The downside? One company is going to 'lose money' if the co-exclusive company sells. Usually the agreement is 80/20 – 80" going to selling broker, 20% to co-listor from an agent's stand point they feel why should they do 1/2 of the effort if they may only get 20% if the co listing company sells it? Can't blame them for that. If the co exclusive could be 50/50 it might make more sense and co-exclusive would probably become more commonplace."

"So it can be pros and cons from an agent's stand point. The customer doesn't care as long as his property sells and he/she is represented by marketing and or open houses, etc. But I think the customer should realize that by giving a co-exlusive the agents may or may not put their full effort into marketing a property," she finishes.

Interesting viewpoint.

Corcoran Goes Commercial

The Corcoran Group has announced the creation of a Commercial Real Estate Division for their East End offices. The launch of this division marks the first real estate company on the East End to have a formally designated commercial real estate group. This will involve a designated team of expert agents, commercial specific signage, marketing and website designation.

"As the East End becomes a year-round destination, the demands for commercial properties and broker representation in leasing, selling, and buying commercial properties is exponentially increasing. As the market leader in residential real estate sales and rentals, The Corcoran Group will offer the superior services of our commercial real estate experts to an ever expanding client/customer base," comments the Corcoran folks.

The Corcoran Group is proud to continue to be the undisputed market leader serving all aspects of the local real estate community. (They said that, not us.)

Members of the group include: Kathy Anrig of Westhampton Beach, James Arnold of Bridgehampton, Roger Blaugh and Paul Henneforth of Southampton, Marc Heskell and Greg O'Halloran of Sag Harbor; Sheri Clarry of Southold, Lynda Passaretti of Montauk, Frank Schwal of Hampton Bays, and Fred Butti, Lee Minetree Charlotte DePersia, and Sheila Smith of East Hampton.

Bits and Pieces

A gentleman named Rick Koller, the COO of Tauscher Cronacher, founded the home inspection industry. He is receiving a peer award at a recent Washington DC conference for the anniversary. That industry (?) needed a founder (?)!

After buying Roy Scheider's Oceanfront Sagaponack home in the neighborhood of $16 million, Billy Joel picked up the oceanfront cottage next door asking close to $13 million. Very nice neighborhood. Can the Piano Man really appreciate the real estate firm and its brokers releasing all that information and more to the NY Post? But then whaddoIknow?

Uh Ohh! Back to Corcoran! More unattributed comments from timid critics! –

"Corcoran's ad campaign claiming their 'portion' of market share. Truth or fiction? Most believe that the math is a little 'biased' (kind word). In most deals nowadays there are two sides (Sometimes three or even four! Tri-exclsive where a fourth actually sells it.) is what Corcoran doing, counting each of their 'sides', as a sale. But they are counting each 'deal' as only one 'side'. That must be new math. Is reality that their 100 percent universe is actually AT LEAST a 200 percent universe? Confused? Corcoran hoped you would be! What do others think?"

Here is what another agent reportedly said, "MacDonald's makes more hamburgers than anyone...but I can't remember the last time I ate there."

East End real estate? A very strange business.