- Judi Desiderio
, Chief Executive Officer at Town & Country
Real Estate with offices in the Hamptons and on the North Fork, has been in the real estate business for over three decades. Desiderio believes that, "Agents who are truly dedicated to this business will enjoy a healthy 2010 but those who are 'doing it part-time' or 'on the side' will find it impossible to earn a good living."
Some people feel that the Golden Age of real estate in the Hamptons has come and gone. How do you feel?
I've seen the best and the worst of times - and everything in between! This is the in between and probably will be for some time.
Looking at the profile of the local industry as a whole, what changes would you predict for the future?
Judi Desiderio, President of Town & Country Real Estate.
Less is more! While there will always be a market for '"The Exceptional Properties" the bulk of the business will be in the low to mid range - in each hamlet that dollar sum varies - you can view media home sales prices for 11 different Hampton markets in the quarterly home sales reports Town & Country publishes. Go to www.1TownAndCountry.com click on 'reports.'
Which traits do you look for when you interview a potential sales associate?
(1) Work Ethic, (2) Communication Skills, (3) Professional Presentation, (4) A Desire To Succeed, (5) Share Of Influence - but the common denominator is an entrepreneurial spirit - a self starter!
How do you feel about the fact there is no MLS (multiple listing service) in the Hamptons market?
MLS has its good points and its bad - just as the open market we function in today. My greatest issue with MLS is the way it homogenizes the business. The customers and clients in the Hamptons are not of the mind that bigger is better or that more matters most. Because it doesn't! It is the quality not the quantity. Furthermore, the markets are so specialized that most agents in, say, Montauk, won't take customers to Southampton and vice versa. Yet, with MLS, I found agents take customers from Nassau County and further into our market with zero knowledge of rental values, land values, recent sales, appreciation rates, etc. thus really not serving the seller, the client, or the buyer for that matter. We don't believe in lock boxes.
What price trends do you see for 2010?
: I really don't see much upward movement, but fortunately the correction has been realized.
What is your prediction for the 2010 rental season?
: Better, thank goodness. Last year there was a real feeling of fear - fear for the stock market, fear for job security, fear for the future of the U.S. economy, not to mention the war and losses. As of the second half of 2009, there's real stabilization on so many fronts that while people are still keeping a careful watch on things, it's not with fear in their hearts.
Editor's Note: "Broker's Outlook" is a new column here at Hamptons.com where we invite all real estate agents from across the Hamptons and East End to be part of the story discussing their take on the Hamptons real estate market. For details contact Nicole B. Brewer at firstname.lastname@example.org.
Nicole, an award-winning journalist, is Executive Editor & Publisher of Hamptons.com where she focuses on celebrity interviews, fine living and design, social events, fashion and beauty. She lives on the North Fork with her husband, their two daughters, and Bernese Mountain dog, Cooper. www.hamptons.com