Nest Seekers recognizes the importance of networking, connecting and sharing our voice and content with communities around the world.
You can now follow us at your convenience on your favorite community platforms including FaceBook, YouTube, LinkedIN, Jigsaw, Twitter and many more.
Join us, follow us, share us and share with us. Stay connected.
|April 28, 2014||Tweet|
Over the past fifteen years or so I have had the opportunity to associate with many real estate professionals who ply their trade in the Hamptons real estate market. I recently spoke with several, each of whom has managerial responsibilities and experience with their respective firms. The question I posed was, how have you seen changes in the real estate market impact the skills required of agents and managers, especially since the market recession?
"For me, it's not as much a change related to pre- and post-recession, but more of an evolution in the required skill set, " says John Gicking, Vice President/Brokerage Manager, Sotheby's International Realty. "Competition is fierce, and everyone knows more than one agent on the East End. It requires dedication for full-time work, good sales skills, tech savvy, the ability to be a self-starter, social media proficiency, the ability to interact effectively with four different generations of clients - Millennial/Generation Y; Generation X; Baby Boomers: Traditional/Veterans. Most importantly, customer base/network and strength at maintaining and building relationships."
Gicking explained the four generations, "We train our agents to recognize that different generations react to technology in different ways. For instance, the Traditional are less likely to engage in social media. For them it's more personal contact and loyalty between them and their agents. "
When it comes to the Buyer Agency Gicking says, "I definitely seeing it as the way of doing business going forward more and more customers want it, and more and more brokers are doing it."
"The greatest change in the real estate business over the last ten years has been the impact of the internet, showcasing listings and delivering content and data to both buyers and sellers," explains Geoff Gifkins, Hamptons Regional Manager, Nest Seekers International. "In the past, when hiring agents, we looked for professionalism, presentation, qualifications, and communications and sales skills. All of these are very important today but now we are looking for tech-savvy agents that have the ability to use and embrace all the new and emerging technologies that have become essential to marketing real estate these days."
According to the National Association of Realtors, most buyers start their search for a property on the internet but work through a broker to show them properties. Gifkins says that, "Many buyers and sellers get their information from the internet, unfortunately, on some sites, it is not accurate or updated correctly. Therefore, it is imperative that the agent they are working with has access to and can deliver factual data."
Gicking agrees, "We often have to re-educate buyers and sellers because of the misinformation that appears on certain websites."
"Real estate can't all be done from a computer at home," says veteran real estate pro Paul Brennan, Regional Manager, Douglas Elliman Real Estate. "It takes personal communication out of the process. Getting on the telephone creates and emotional connection. It's like dating by email and texting. It leads to misunderstandings and problems that could have been avoided by talking on the phone or in person."
When it comes to buyers and sellers, the prevailing opinion that they more knowledgeable, but Brennan disagrees, "I think that's a fallacy. They think they know more but they don't appreciate all of the nuances of the market. They too often get misinformation from the Internet and then it becomes our job to re-educate them."
Brennan does not see a reason for the Buyer Agency, "If I represent a seller I find out everything I can about the property and what a buyer should want to know before I show it to them. That way I can anticipate a problem and address it before it becomes a problem. Real estate is a referral business and a repeat business. Buyers become sellers, sellers become buyers, and renters become buyers. I don't see why a buyer's agent can do more for the buyer than I would do as a seller's agent."
"I think they started out with good intentions but have become the gorilla in the room," says Brennan regarding MLS. "It has created its own bureaucracy. It has become more about reading MLS rules and regulations than about selling real estate."
Brennan, who it should be noted played professional basketball for two seasons in Australia with the Bankstown Bruins, does like the idea of teams in brokerages. "No one person can do everything or know everything. Real estate is a labor intensive business. It's like a basketball team. The members of the team working together can achieve a result they never could individually."
Regional Manager, Licensed Associate Broker
|Nest Seekers International Expands to New Jersey with Jersey City and Hoboken Offices|
|Things You May Not Know about the Flatiron Building|
|10 Inspiring Rustic Meets Industrial Interior Design Concepts|
|Living life on the edge, literally|
|Brace yourselves, Manhattanhenge is coming!|
|How to host an open house and attract serious offers|
|Nothin' better than a loft in Soho|
|Nest Seekers agent looks to set the record for the most expensive single-family condo sale in Long Island City|
|Cayman Islands real estate surges as the U.S. and global economy strengthens|
|NYC Taxi Magnate To List $27 Million Penthouse With World Trade Center Views|
|The gated estates of Los Angeles’ Westside never go out of style, reflected in a soaring luxury market.|
|Upper West Side mansion asking $40M now down to $30M|
|Ryan Serhant on movie role: Another way to win clients|
|Porter House's Sixth Floor Wants $22M, Needs to be Combined|
|The 30 Most Expensive Homes In Tech, Ranked!|
|The Most Expensive Homes In Finance, Ranked!|
|Real Estate Roundtable: What Is Your Dream Hamptons Listing?|
|Can the Ritz Brand Carry a $118M Condo in Battery Park City?|
|Real Estate Roundtable: What Is Your Dream Hamptons Listing?|
|Manhattan’s Top Listing Agents|
|‘Million Dollar Listing’ Star Reveals Hottest Properties for Unfamiliar Buyers|
|'Million Dollar Listing' Star Reveals Hottest Properties for Foreign Buyers|
|Why a $118.5 Million Apartment is an Easier Sell than an $11 Million One|
|CONDO CLASH: Broker for $48M Tribeca sky loft with 360-degree views lays down the penthouse challenge|
|Start-up says it’s redesigning interior design|
|HOUSE OF THE DAY At $118.5 Million, This Giant Ritz-Carlton Penthouse is NYC's Most Expensive Home|
|$118 million penthouse listing now biggest in downtown NYC|
|Three Contiguous New York Condos Ask a Combined $118.5 Million|
|Meet Robert Canberg of Nest Seekers International|
|Posh condo sale sets new Queens record as waterfront real estate booms A buyer from Colombia purchased the ground floor apartment at The View in Long Island City for $3.35 million|